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THE UTTARAKHAND (THE UTTARANCHAL VALUE ADDED TAX ACT, 2005)
CHAPTER-I : PRELIMINARY

2: Definitions:

In this Act, unless the context otherwise requires-

(18) "Lease" means any agreement or arrangement whereby the right to use any goods for any purpose is transferred by one person to another (whether or not for a specified period) for cash, deferred payment or other valuable consideration without the transfer of ownership and includes a sub-lease but does not include any transfer on hire purchase or any system of payment by instalment;