Definition of trading of goods.

[VINOD KUMAR]

What is the statutory definition of trading of goods. Please reply with statutory provisions. Thanks and regards.

[Ramanujam Varadarajan]

Generally mean purchase and sale of goods as a course of business.

AI Summary

Trading of goods: defined as purchase and sale of goods conducted in the course of business for tax classification.
Trading of goods is defined as the purchase and sale of goods in the course of business, describing commercial acquisition and disposal of goods as ongoing business activity for VAT/CST and sales tax classification.