Clause 203 - Certain definitions - Direct Taxes Code Bill, 2009

Certain definitions 203. For purposes of this sub-chapter,- (a) "buyer" means a person who obtains in any sale, by way of auction, tender, or any other mode, goods of the nature specified in the Table in sub-section (1) or the right to receive any such goods but does not include,- (i) a public sector company, the Central Government, a State Government, an embassy, a high commission, legation, commission, consulate and trade representation of a foreign State, and a club; or (ii) a buyer in the retail sale of such goods, purchased by him for personal consumption; (b) "lessee or licensee" means a person other than a public sector company who is granted a lease or licence or is awarded a contract; (c) "lessor or licensor" means a person who grants a lease or licence or enters into a contract or otherwise transfers, wholly or partly, any right or interest to a lessee or licensee, (d) "scrap" means waste from the manufacture or mechanical working of materials which is unusable because of breakage, wear and tear and other reasons; (e) "seller" means,- (i) the Central Government, a State Government or any local authority; (ii) a corporation, or authority, established by, or under, a Central, State, or Provincial Act; (iii) any company, firm or co-operative society;and (iv) an individual or a Hindu undivided family, if the total sales, gross receipts or turnover from the business carried on by him exceed the monetary limits specified in sub-section (1) of section 84 during the financial year immediately preceding the financial year in which the goods of the nature specified in column 2 of Table 6 against entry number (i) to (v).