Report No. 61

Chapter 2

Evasion of Central Sales Tax by Means of Transfer of Goods from one State to another, on what Purports to be Consignment Transfer or a Transfer to another branch of The Same Institution

Introductory

2.1. Ingredients of Sale.-

The question that is considered in this chapter is one connected with the basic concept of sales. In order that the turnover from a transaction may be taxable under the Act, the transaction must have four constituent elements, viz., (i) parties competent to contract; (ii) mutual assent; (iii) transfer of property in goods from the seller to the buyer; and (iv) price in money paid or promised.