SCOPE OF BUSINESS UNDER GST LAW
By: – Dr. Sanjiv Agarwal
Goods and Services Tax – GST
Dated:- 7-11-2017<\/p>\n
Meaning of Business [Section 2(17)]
\nAs per section 2(17) of the CGST Act, 2017 'business' includes –
\n * any trade, commerce, manufacture, profession, vocation adventure, wager or any other similar activity, whether or not it is for a pecuniary benefit;
\n * any activity or transaction in connection with or incidental or ancillary to (a) above;
\n * any activity or transaction in the nature of (a) above, whether or not there is volume, frequency, continuity or regularity of such transaction;
\n * supply or acquisition of goods including capital assets and services in connection with commencement or closure of business;
\n * provision by a club, association, society, or any such body (for a subscription or any other consideration) of the facilities or benefits to its members as the case may be;
\n * admission, for a consideration, of persons to any premises;
\n * s<\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ts. In that case, transactions of such hospital are also covered under the scope of 'business'. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n course or furtherance of business are taxable. Any supplies of goods and\/or services which is not made in the course or furtherance of business will not be covered by the definition of Supply. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" SCOPE OF BUSINESS UNDER GST LAWBy: – Dr. Sanjiv Agarwal Goods and Services Tax – GSTDated:- 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 adventure, wager or any other similar activity, whether or not it is for a … Continue reading “SCOPE OF BUSINESS UNDER GST LAW”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-8578","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/8578","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8578"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/8578\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8578"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nIn 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' extends the covenant to all cases where work, involving the recourse of numerous persons to the premises, is done for payment, or even without payment where the result is in effect the same as if a charge were made. The making of profit is not essential to constitute a business; nor, on the other hand, does payment necessarily constitute one.
\nThe Supreme Court in State of Andhra Pradesh v. H. Abdul Bakhi and Bros. 1964 (4) TMI 75 – SUPREME COURT OF INDIA, held as under:
\n “The expression “business” though extensively used a word of indefinite import, in taxing statutes it is used in the sense of an occupation, or profession which occupies the time, atte<\/p>\n
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\nHowever, the importation of services whether or not in the course or furtherance of business, will be considered as a Supply.
\nIt is important to note that for coverage under the term business, the intention to earn profit out of it will not be considered. Even if there is no intention to make profit out of it, still the transaction may be covered in the definition of 'business'. For example, supply of goods by an association to its members.
\nAgriculture under scope of 'business' ?
\n'Taxable person' means a person who is registered under GST law and as per section 23 of CGST Act, 2017 an agriculturist shall not be required to obtain registration to the extent of supply of produce out of cultivation of land. As such, agriculturist is not required to be registered for his a<\/p>\n
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