https://www.taxtmi.com/caselaws?id=166438 Transactions structured through procuring agents under the Kerala General Sales Tax Act were treated according to their substance rather than their form. Although the agents bought coco beans in their own names and issued statutory declarations under the last-purchase scheme, the surrounding facts showed that they acted on their own funds, at their own risk, and delivered goods only after transport to the buyer's stockyard. Splitting the price into cost, freight, expenses and commission did not change the character of the dealings. The arrangement was therefore treated as a purchase by the buyer, and the reimbursed amounts were included in taxable purchase turnover. en-us Mon, 18 Jul 2011 00:00:00 +0530 Thu, 25 Sep 2014 11:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=166438 Transactions structured through procuring agents under the Kerala General Sales Tax Act were treated according to their substance rather than their form. Although the agents bought coco beans in their own names and issued statutory declarations under the last-purchase scheme, the surrounding facts showed that they acted on their own funds, at their own risk, and delivered goods only after transport to the buyer's stockyard. Splitting the price into cost, freight, expenses and commission did not change the character of the dealings. The arrangement was therefore treated as a purchase by the buyer, and the reimbursed amounts were included in taxable purchase turnover. Case-Laws VAT and Sales Tax Mon, 18 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=166438