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SCOPE OF BUSINESS UNDER GST LAW

Goods and Services Tax - GST - By: - Dr. Sanjiv Agarwal - Dated:- 7-11-2017 - Meaning of Business [Section 2(17)] As per section 2(17) of the CGST Act, 2017 'business' includes - any trade, commerce, manufacture, profession, vocation adventur .....

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is volume, frequency, continuity or regularity of such transaction; supply or acquisition of goods including capital assets and services in connection with commencement or closure of business; provision by a club, association, society, or any such b .....

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ccepted by him in the course or furtherance of his trade, profession or vocation; services provided by a race club by way of totalisator or a licence to book maker in such club; and any activity or transaction undertaken by the Central Government, a .....

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fession, vocation, adventure or wager or other similar activities are covered. It is immaterial whether such transactions are for pecuniary benefit or not. These terms have not been defined. 'Agriculture' has not been specifically included in .....

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'business'. In Income Tax, business has been defined to include any trade, commerce or manufacture or any adventure or concern in the nature of trade, commerce or manufacture. According to Halsbury (4th edition, Vol. 27), the word business e .....

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al to constitute a business; nor, on the other hand, does payment necessarily constitute one. The Supreme Court in State of Andhra Pradesh v. H. Abdul Bakhi and Bros. 1964 (4) TMI 75 - SUPREME COURT OF INDIA, held as under: The expression business th .....

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as business there must be a course of dealings, either actually continued or contemplated to be continued with a profit motive, and not for sport or pleasure. Business includes: day-to-day running of the business, rationalization of business administ .....

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commencement or carriage of business, things incidental to carriage of business. [Birla Cotton Spng. & Wvg. Mills Ltd v. CFT, 1967 (3) TMI 104 - CALCUTTA HIGH COURT ,, affirmed, 1971 (8) TMI 9 - SUPREME Court ]. Relevance of scope of 'busine .....

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