https://www.taxtmi.com/highlights?id=97311 Taxation of goods in a works contract is governed by the principle that the taxable event is the transfer of property in goods incorporated in the works and the taxable value is the value of those goods at the time of incorporation. Applying the transformation and marketability tests, fabricated steel superstructures/triangulated girders were held to be commercially distinct, marketable goods whose value included embedded fabrication, transportation, launching and erection costs; accordingly they were taxable as unspecified goods and most claimed fabrication-related deductions were disallowed. Reassessment under Section 31 BVAT was held within jurisdiction where recorded satisfaction existed on the material before the assessing officer. en-us Mon, 02 Mar 2026 08:35:01 +0530 Mon, 02 Mar 2026 08:35:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=97311 Taxation of goods in a works contract is governed by the principle that the taxable event is the transfer of property in goods incorporated in the works and the taxable value is the value of those goods at the time of incorporation. Applying the transformation and marketability tests, fabricated steel superstructures/triangulated girders were held to be commercially distinct, marketable goods whose value included embedded fabrication, transportation, launching and erection costs; accordingly they were taxable as unspecified goods and most claimed fabrication-related deductions were disallowed. Reassessment under Section 31 BVAT was held within jurisdiction where recorded satisfaction existed on the material before the assessing officer. Highlights VAT / Sales Tax Mon, 02 Mar 2026 08:35:01 +0530 https://www.taxtmi.com/highlights?id=97311