https://www.taxtmi.com/caselaws?id=128752 Turnover under the sales tax law covers the aggregate price of goods sold, and a business as such is not goods. On that basis, proceeds from the transfer of an entire business are not part of taxable turnover, even if stock-in-trade sold with the business may be separately identifiable. The rule-making power can prescribe the manner of computing turnover, but cannot expand the statutory tax base. Rule 44(f) therefore cannot override the definition of turnover, and the distinction between single-point and multi-point goods is not determinative for a sale of business as a whole. en-us Tue, 13 Nov 1962 00:00:00 +0530 Wed, 10 Apr 2013 18:13:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=128752 Turnover under the sales tax law covers the aggregate price of goods sold, and a business as such is not goods. On that basis, proceeds from the transfer of an entire business are not part of taxable turnover, even if stock-in-trade sold with the business may be separately identifiable. The rule-making power can prescribe the manner of computing turnover, but cannot expand the statutory tax base. Rule 44(f) therefore cannot override the definition of turnover, and the distinction between single-point and multi-point goods is not determinative for a sale of business as a whole. Case-Laws VAT and Sales Tax Tue, 13 Nov 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=128752