https://www.taxtmi.com/caselaws?id=127973 For composition under the stock-based taxing scheme, only goods actually in the dealer's possession, custody or control on the relevant date could be counted. Sugar bags already booked and still in transit, with railway receipts not endorsed to the dealer and goods remaining in the vendors' name, were excluded from the composition basis, giving the assessee partial relief. The governing instructions also treated total purchase value as the full cost of the stock, so freight and incidental charges were properly included in that value. The composition demand was therefore reduced only to the extent of the in-transit bags, while inclusion of freight and incidental charges was upheld. en-us Mon, 18 Jan 1960 00:00:00 +0530 Mon, 25 Mar 2013 13:09:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=127973 For composition under the stock-based taxing scheme, only goods actually in the dealer's possession, custody or control on the relevant date could be counted. Sugar bags already booked and still in transit, with railway receipts not endorsed to the dealer and goods remaining in the vendors' name, were excluded from the composition basis, giving the assessee partial relief. The governing instructions also treated total purchase value as the full cost of the stock, so freight and incidental charges were properly included in that value. The composition demand was therefore reduced only to the extent of the in-transit bags, while inclusion of freight and incidental charges was upheld. Case-Laws VAT and Sales Tax Mon, 18 Jan 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=127973