Goods: [Section 2(22)] :

“Goods‟ includes-

(a) vessels, aircrafts and vehicles;

(b) stores;

(c) baggage;

(d) currency and negotiable instruments;

(e) any other kind of movable property;

Fundamental aspects of goods

There are two fundamental aspects for any thing to be called as goods and they are moveability and marketability.

(a) Concept of moveable

The first aspect of goods is that they should be movable. The Supreme Court has enunciated this principle in the case of UOI v. Delhi Cloth Mills (1977) ELT J – 199 and in South Bihar Sugar Mills v. UOI (1978) ELTJ 336 by holding that to be called goods, the articles are such as are capable of being bought and sold in the market. Though these judgments are rendered in the context of excise duty, the subject matter being pari materia, they can also be applied in the context of customs duty.

(b) Concept of marketable

The second fundamental aspect of goods is that they should be capable of being marketed. Marketability is the capability of an article to be put into market for sale. Whether a particular article is marketable or not is decided on the circumstances of each case.