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of <h1>Understanding 'Supply in Course or Furtherance of Business' Under CGST Act 2017: Key to Tax Obligations & Exemptions</h1> The GST Ready Reckoner addresses the concept of 'supply in the course or furtherance of business' under the CGST Act 2017, highlighting that while 'business' is defined, the phrase itself is not. Business encompasses activities such as trade, commerce, and services related to these activities. Supplies are taxable under GST if they are in the course or furtherance of business, with exceptions like personal sales or charitable acts. Input Tax Credits can be claimed for business-related transactions. The document emphasizes the importance of understanding these definitions to determine tax obligations and exemptions accurately.
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