https://www.taxtmi.com/article/detailed?id=11148 The note defines a commercial concern as a firm, business entity or organisation engaged in sale, purchase or provision of services for consideration with a profit motive; individuals in personal capacity are excluded unless operating as an established concern. Key tests for commerciality include risk of profit or loss, earning a livelihood or substantial profits, motive and intention, benefit to the public, and reinvestment or distribution of surplus. Illustrative inclusions cover banking, insurance, financial corporations, transport, plantations, advertising, brokers and forwarding agents, and other entities notified as commercial concerns. en-us Sat, 25 Feb 2023 09:54:39 +0530 Sat, 25 Feb 2023 09:54:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11148 The note defines a commercial concern as a firm, business entity or organisation engaged in sale, purchase or provision of services for consideration with a profit motive; individuals in personal capacity are excluded unless operating as an established concern. Key tests for commerciality include risk of profit or loss, earning a livelihood or substantial profits, motive and intention, benefit to the public, and reinvestment or distribution of surplus. Illustrative inclusions cover banking, insurance, financial corporations, transport, plantations, advertising, brokers and forwarding agents, and other entities notified as commercial concerns. Articles Goods and Services Tax - GST Sat, 25 Feb 2023 09:54:39 +0530 https://www.taxtmi.com/article/detailed?id=11148