Definition Of Business Under Gst
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This article explains the definition with examples.
Definition of business under gst. The gst portion is collected by the business or seller and forwarded to the government. B any activity or transaction in connection with or incidental or ancillary to a above. Business sec 2 17 of cgst act 2017 business includes a any trade commerce manufacture profession vocation adventure wager or any other similar activity whether or not it is for a pecuniary benefit. Any trade commerce manufacture profession vocation or any other similar activity can be called as business under gst.
It is also referred to as value added tax vat in some countries. Business includes a any trade commerce manufacture profession vocation or any other similar activity whether or not it is for a pecuniary benefit. The new definition reads as follows.
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