What is a works contract, and how is it related to a tax on the transfer of property in goods?
A works contract is a type of contract where one party agrees to perform certain works or services, and the other party agrees to pay for those works or services. It is related to a tax on the transfer of property in goods as it involves the execution of a works contract, which can lead to the transfer of property in goods (whether as goods or in some other form). This transfer may be subject to taxation under certain circumstances, such as when the transfer is done for cash, deferred payment, or other valuable consideration.