Clarification: "Holding of stock" in statute refers to running stock, not turnover, affecting VAT and Sales Tax rules.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Interpretation of statute - holding of stock - scope of the word “held” - the holding of stock, as found in the provision, can only be running stock and not the turnover in any event.....