Giving Shuttering on hire to builders for use in construction is deemed sales- Rent Received therefrom is liable to VAT under Punjab VAT

0 comments Monday, February 21, 2011
The word Sale has been defined under section 2(zf) of  Punjab VAT Act 2005 as including the transfer of the right to use any goods for any purpose (whether or not for a specified period) for cash, deferred payment or other valuable consideration.

Thus transfer of right to use any goods is also considered as deemed sales. Such transfer also includes giving shuttering goods on hire for use in the cource of  construction of a building or any other structure.

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