https://www.taxtmi.com/caselaws?id=160639 Cylinder holding charges for company-owned cylinders were treated as hire consideration for the use of goods, because the contract required return of the cylinders after use and the charge depended on the period of retention; they were therefore not part of the sale price of gas and were assessable under the transfer-of-right-to-use provision rather than the general sales provision. Amounts recovered for lost cylinders were also held taxable, being linked to the replacement value of the cylinders, and the applicable rate was taken as 5%, with the remand for recalculation of the correct turnover sustained. The result was that the taxability of both turnovers remained, subject to the corrected statutory basis and fresh quantification. en-us Fri, 20 Aug 1999 00:00:00 +0530 Sat, 21 Dec 2013 13:10:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=160639 Cylinder holding charges for company-owned cylinders were treated as hire consideration for the use of goods, because the contract required return of the cylinders after use and the charge depended on the period of retention; they were therefore not part of the sale price of gas and were assessable under the transfer-of-right-to-use provision rather than the general sales provision. Amounts recovered for lost cylinders were also held taxable, being linked to the replacement value of the cylinders, and the applicable rate was taken as 5%, with the remand for recalculation of the correct turnover sustained. The result was that the taxability of both turnovers remained, subject to the corrected statutory basis and fresh quantification. Case-Laws VAT and Sales Tax Fri, 20 Aug 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=160639