Works contract definition expanded to include construction and manufacturing activities, affecting sale price determination for goods transfers. Amendments to section 2 provide that when property in goods is transferred in the execution of a works contract the sale price of such goods shall be determined in the prescribed manner by making prescribed deductions from the total consideration for the works contract and that price shall be deemed the sale price; they also redefine sales tax law and general sales tax law to include value added tax law and insert a definition of works contract covering a broad range of construction and manufacturing activities.
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Provisions expressly mentioned in the judgment/order text.
Works contract definition expanded to include construction and manufacturing activities, affecting sale price determination for goods transfers.
Amendments to section 2 provide that when property in goods is transferred in the execution of a works contract the sale price of such goods shall be determined in the prescribed manner by making prescribed deductions from the total consideration for the works contract and that price shall be deemed the sale price; they also redefine sales tax law and general sales tax law to include value added tax law and insert a definition of works contract covering a broad range of construction and manufacturing activities.
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