https://www.taxtmi.com/caselaws?id=163080 DEPB premium received on transfer of the entitlement was treated as taxable goods under the Kerala General Sales Tax Act, 1963 because the DEPB scrip carried a transferable market value and a commercially recognised property interest. Applying the principle that freely tradable licences and scrips treated as merchandise in commerce are goods, the court held that DEPB was not merely an actionable claim. The premium was therefore liable to sales tax under section 5, and the challenge to the assessment failed. en-us Mon, 04 Oct 2004 00:00:00 +0530 Fri, 21 Mar 2014 14:34:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=163080 DEPB premium received on transfer of the entitlement was treated as taxable goods under the Kerala General Sales Tax Act, 1963 because the DEPB scrip carried a transferable market value and a commercially recognised property interest. Applying the principle that freely tradable licences and scrips treated as merchandise in commerce are goods, the court held that DEPB was not merely an actionable claim. The premium was therefore liable to sales tax under section 5, and the challenge to the assessment failed. Case-Laws VAT and Sales Tax Mon, 04 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=163080