TMI BlogDefinitions.X X X X Extracts X X X X X X X X Extracts X X X X ..... pt of goods or services or both on behalf of another; (6) aggregate turnover means the aggregate value of all taxable supplies (excluding the value of inward supplies on which tax is payable by a person on reverse charge basis), exempt supplies, exports of goods or services or both and inter-State supplies of persons having the same Permanent Account Number, to be computed on all India basis but excludes central tax, State tax, Union territory tax, integrated tax and cess; (7) agriculturist means an individual or a Hindu Undivided Family who undertakes cultivation of land- (a) by own labour; or (b) by the labour of family; or (c) by servants on wages payable in cash or kind or by hired labour under personal supervision or the personal supervision of any member of the family; (8) Appellate Authority means an authority appointed or authorised to hear appeals as referred to in section 107; (9) Appellate Tribunal means the Goods and Services Tax Appellate Tribunal referred to in section 109; (10) appointed day means the date on which the provisions of this Act shall come into force; (11) assessment means determination of ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (18) business vertical means a distinguishable component of an enterprise that is engaged in the supply of individual goods or services or a group of related goods or services which is subject to risks and returns that are different from those of the other business verticals. Explanation .- For the purposes of this clause, factors that should be considered in determining whether goods or services are related include- (a) the nature of the goods or services; (b) the nature of the production processes; (c) the type or class of customers for the goods or services; (d) the methods used to distribute the goods or supply of services; and (e) the nature of regulatory environment (wherever applicable), including banking, insurance, or public utilities; (19) capital goods means goods, the value of which is capitalised in the books of account of the person claiming the input tax credit and which are used or intended to be used in the course or furtherance of business; (20) casual taxable person means a person who occasionally undertakes transactions involving supply of goods or services or both in the course or furtherance of busine ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... but shall not include any subsidy given by the Central Government or a State Government; (b) the monetary value of any act or forbearance, in respect of, in response to, or for the inducement of, the supply of goods or services or both, whether by the recipient or by any other person but shall not include any subsidy given by the Central Government or a State Government: Provided that a deposit given in respect of the supply of goods or services or both shall not be considered as payment made for such supply unless the supplier applies such deposit as consideration for the said supply; (32) continuous supply of goods means a supply of goods which is provided, or agreed to be provided, continuously or on recurrent basis, under a contract, whether or not by means of a wire, cable, pipeline or other conduit, and for which the supplier invoices the recipient on a regular or periodic basis and includes supply of such goods as the Government may, subject to such conditions, as it may, by notification, specify; (33) continuous supply of services means a supply of services which is provided, or agreed to be provided, continuously or on recurrent basis, under a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t of this Act by the Legislature or any Authority or person having the power to make such law, notification, order, rule or regulation; (49) family means,- (i) the spouse and children of the person; and (ii) the parents, grand-parents, brothers and sisters of the person if they are wholly or mainly dependent on the said person; (50) fixed establishment means a place (other than the registered place of business) which is characterised by a sufficient degree of permanence and suitable structure in terms of human and technical resources to supply services, or to receive and use services for its own needs; (51) fund means the Consumer Welfare Fund established under section 57; (52) goods means every kind of movable property other than money and securities but includes actionable claim, growing crops, grass and things attached to or forming part of the land which are agreed to be severed before supply or under a contract of supply; (53) Government means the Government of Uttar Pardesh; (54) Goods and Services Tax (Compensation to States) Act means the Goods and Services Tax (Compensation to States) Act, 2017 (Act no. 15 of 2017); ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... edit of input tax; (64) intra-State supply of goods shall have the same meaning as assigned to it in section 8 of the Integrated Goods and Services Tax Act, 2017 (Act no. 13 of 2017); (65) intra-State supply of services shall have the same meaning as assigned to it in section 8 of the Integrated Goods and Services Tax Act, 2017 (Act no.13 of 2017); (66) invoice or tax invoice means the tax invoice referred to in section 31; (67) inward supply in relation to a person, shall mean receipt of goods or services or both whether by purchase, acquisition or any other means, with or without consideration; (68) job work means any treatment or process undertaken by a person on goods belonging to another registered person and the expression job worker shall be construed accordingly; (69) local authority means- (a) a Panchayat as defined in clause (d) of article 243 of the constitution; (b) a Municipality as defined in clause (e) of article 243P of the Constitution; (c) a Municipal Committee, a Zila Parishad, a District Board, and any other authority legally entitled to, or entrusted by the Central Government or any State Gov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... related; (74) mixed supply means two or more individual supplies of goods or services, or any combination thereof, made in conjunction with each other by a taxable person for a single price where such supply does not constitute a composite supply: Illustration .- A supply of a package consisting of canned foods, sweets, chocolates, cakes, dry fruits, aerated drinks and fruit juices when supplied for a single price is a mixed supply. Each of these items can be supplied separately and is not dependent on any other. It shall not be a mixed supply if these items are supplied separately; (75) money means the Indian legal tender or any foreign currency, cheque, promissory note, bill of exchange, letter of credit, draft, pay order, traveller cheque, money order, postal or electronic remittance or any other instrument recognized by the Reserve Bank of India when used as a consideration to settle an obligation or exchange with Indian legal tender of another denomination but shall not include any currency that is held for its numismatic value; (76) motor vehicle shall have the same meaning as assigned to it in clause (28) of section 2 of the Motor Vehicles Act, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... siness includes- (a) a place from where the business is ordinarily carried on, and includes a warehouse, a godown or any other place where a taxable person stores his goods, supplies or receives goods or services or both; or (b) a place where a taxable person maintains his books of account; or (c) a place where a taxable person is engaged in business through an agent, by whatever name called; (86) place of supply means the place of supply as referred to in Chapter V of the Integrated Goods and Services Tax Act, 2017 (Act no. 13 of 2017); (87) prescribed means prescribed by rules made under this Act on the recommendations of the Council; (88) principal means a person on whose behalf an agent carries on the business of supply or receipt of goods or services or both; (89) principal place of business means the place of business specified as the principal place of business in the certificate of registration; (90) principal supply means the supply of goods or services which constitutes the predominant element of a composite supply and to which any other supply forming part of that composite supply is ancillary; (91) proper of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... curities shall have the same meaning as assigned to it in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (Act no. 42 of 1956); (102) Services means anything other than goods, money and securities but includes activities relating to the use of money or its conversion by cash or by any other mode, from one form, currency or denomination, to another form, currency or denomination for which a separate consideration is charged; (103) State means the State of Uttar Pradesh; (104) State tax means the tax levied under this Act; (105) supplier in relation to any goods or services or both, shall mean the person supplying the said goods or services or both and shall include an agent acting as such on behalf of such supplier in relation to the goods or services or both supplied; (106) tax period means the period for which the return is required to be furnished; (107) Taxable person means a person who is registered or liable to be registered under section 22 or section 24; (108) Taxable supply means a supply of goods or services or both which is leviable to tax under this Act; (109) taxable territory means t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ds or services or both to be supplied or the identities of their potential suppliers are either indicated on the instrument itself or in related documentation, including the terms and conditions of use of such instrument; (119) works contract means a contract for building, construction, fabrication, completion, erection, installation, fitting out, improvement, modification, repair, maintenance, renovation, alteration or commissioning of any immovable property wherein transfer of property in goods (whether as goods or in some other form) is involved in the execution of such contract; (120) words and expressions used and not defined in this Act but defined in the Integrated Goods and Services Tax Act, 2017 (Act no. 13 of 2017), the Central Goods and Services Tax Act, 2017 (Act no. 12 of 2017), the Union Territory Goods and Services Tax Act, 2017 (Act no. 14 of 2017) and the Goods and Services Tax (Compensation to States) Act, 2017 (Act no. 15 of 2017) shall have the same meanings as assigned to them in those Acts. - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management India - taxmanagementindia - taxmanagemen ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
