with the explanation added by the Finance Act 2008, goods includes any material article or substance which is capable of being bought & sold and shall be deemed as marketable
my question are(plz reply part wise answer)
(a) are the test of marketability have become redundant as scrap is also capable of being bought & sold.
(b) a product which is not known in market, is also capable of being bought & sold so is it a goods now & deemed to be marketable?
(c) are the previous case laws on marketability are of no use, bcoz even a product is not a commercially known product in the market, but is capable of being bought & sold
(d) are now all the intermediary products mentioned in Tariff list to be considered as goods, bcoz even intermediate products-mentioned in tariff list are not commercially known products but are capable of being bought & sold.
SOLID REPLIES REQUIRED WITH JUSTIFICATIONS
CAclubindia
