2017 (10) TMI 1055

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.... on receipt of consideration, whether the same is a service or goods. 2. Heard the parties. 3. We find from the impugned Order-in-Appeal that the Learned Commissioner (Appeals) have placed reliance on the ruling of Hon'ble Supreme Court in Vikas Sales Corporation and another's Versus Commissioner of Commercial Taxes, (1996) 4 SCC 433, wherein the issue before the Court was whether the transfer of REP licence/Exim scrips by the holder thereof to another person constitutes a sale of goods within the meaning of, or for purposes of the sales tax enactment of Tamil Nadu, Karnataka and Kerala. The Hon'ble Supreme Court relying on the definition of goods as defined in clause d of Section 2 of the Central Sales-Tax Act, 1956, which de....

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....herefore, excluded from the definition of goods under the Sales Tax Act and hence the sale of lottery tickets was not subject to sales tax, and the earlier Two Bench decision in the case of H. Anraj versus Government of Tamil Nadu holding otherwise, did not lay down the correct legal position? 5. The Hon'ble Supreme Court have made the following observations: - "We are afraid, we find the submission unacceptable. We are unable to see DEPB either as a debt or as a beneficial interest in movable property not in possession of the claimant. To us it is plain that DEPB like REP licence has its own intrinsic value and the purchaser, on payment of consideration, buys something for its value. DEPB credit is thus clearly "goods" within the....