TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Contracts Adjusted for Tax Changes Under Sales of Goods Act 1930; Sellers and Buyers Can Modify Prices</h1> In contracts of sale under the Sales of Goods Act, 1930, if taxes on goods are imposed, increased, decreased, or remitted after a contract is made, adjustments to the contract price are allowed unless otherwise specified in the contract. If taxes increase, the seller can add the equivalent amount to the contract price and recover it. Conversely, if taxes decrease, the buyer can deduct the equivalent amount from the contract price and is not liable for the deducted amount. This applies to customs, excise duties, and sales or purchase taxes.
TaxTMI 
TaxTMI 
