2. Definitions

In this Act, unless there is anything repugnant in the subject or context

(y). "purchase price" means the amount payable by a purchaser to a seller as consideration for the purchase of any goods made by or through him after deducting the amount, if any refunded to the purchaser by the seller in respect of any goods returned to such seller within such period as may be prescribed.

Explanation: Purchase price does not include:

(i) the amount representing the cost of outward freight or cost of installation, charged by the seller from the purchaser of goods if such amount has been shown separately on sale invoice or tax invoice issued by the seller;

(ii) amount of tax if such amount is shown separately on the sale invoice or tax invoice.