TaxTMI 
TaxTMI 
Definitions
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....r receipt of goods or services on behalf of another, whether disclosed or not; (6) "aggregate turnover" means the aggregate value of all taxable supplies, exempt supplies, exports of goods and/or services and inter-State supplies of a person having the same PAN, to be computed on all India basis and excludes taxes, if any, charged under the CGST Act, SGST Act and the IGST Act, as the case may be; Explanation.- Aggregate turnover does not include the value of inward supplies on which tax is payable by a person on reverse charge basis under sub-section (3) of Section 8 and the value of inward supplies. (7) "agriculture" with all its grammatical variations and cognate expressions, includes floriculture, horticulture, sericulture, the raising of crops, grass or garden produce and also grazing, but does not include dairy farming, poultry farming, stock breeding, the mere cutting of wood or grass, gathering of fruit, raising of man-made forest or rearing of seedlings or plants; Explanation.- For the purpose of this clause, the expression 'forest' means the forest to which the Indian Forest Act, 1927 (XVI of 1927) applies. (8) "agriculturist" m....
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....; and (g) services supplied by a person as the holder of an office which has been accepted by him in the course or furtherance of his trade, profession or vocation; (h) services provided by a race club by way of totalisator or a licence to book maker in such club; Explanation.- Any activity or transaction undertaken by the Central Government, a State Government or any local authority in which they are engaged as public authorities shall be deemed to be business. (18) "business vertical" means a distinguishable component of an enterprise that is engaged in supplying an individual product or service or a group of related products or services and that is subject to risks and returns that are different from those of other business verticals; Explanation: Factors that should be considered in determining whether products or services are related include: (a) the nature of the products or services; (b) the nature of the production processes; (c) the type or class of customers for the products or services; (d) the methods used to distribute the products or provide the services; and (e) if applicable, t....
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....es (a) any payment made or to be made, whether in money or otherwise, in respect of, in response to, or for the inducement of, the supply of goods or services, whether by the recipient or by any other person but shall not include any subsidy given by the Central Government or a State Government; (b) the monetary value of any act or forbearance, whether or not voluntary, in respect of, in response to, or for the inducement of, the supply of goods or services, whether by the recipient or by any other person but shall not include any subsidy given by the Central Government or a State Government: PROVIDED that a deposit, whether refundable or not, given in respect of the supply of goods or services shall not be considered as payment made for the supply unless the supplier applies the deposit as consideration for the supply; (29) "continuous journey" means a journey for which a single or more than one ticket or invoice is issued at the same time, either by a single supplier of service or through an agent acting on behalf of more than one supplier of service, and which involves no stopover between any of the legs of the journey for which one or more se....
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.... above enumerated laws; (40) "electronic cash ledger" means the electronic cash ledger referred to in sub-section (1) of section 44; (41) 'electronic commerce' means supply of goods and/or services including digital products over digital or electronic network; (42) 'electronic commerce operator' means any person who owns, operates or manages digital or electronic facility or platform for electronic commerce; (43) "electronic credit ledger" means the electronic credit ledger referred to in sub-section (2) of section 44; (44) "exempt supply" means supply of any goods and/or services which are not taxable under this Act and includes such supply of goods and/or services which attract nil rate of tax or which may be exempt from tax under section 11 ; (45) "First Appellate Authority" means an authority referred to in section 98; (46) "first stage dealer" means a dealer, who purchases the goods directly from,- (i) the manufacturer under the cover of an invoice issued in terms of the provisions of Central Excise Rules, 2002 or from the depot of the said manufacturer, or from premises of the consignment agent of the sai....
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...." means credit of 'input tax' as defined in sub-section (55); (57) "intra-State supply of goods" means the supply of goods in the course of intra-State trade or commerce in terms of sub-section (1) of section 4 of IGST Act, 2016; (58) "intra-State supply of services " means the supply of services in the course of intra-State trade or commerce in terms of sub-section (2) of section 4 of IGST Act, 2016; (59) "invoice" shall have the meaning as assigned to it under section 28; (60) "inward supply" in relation to a person, shall mean receipt of goods and/or services whether by purchase, acquisition or any other means and whether or not for any consideration; (61) "job work" means undertaking any treatment or process by a person on goods belonging to another registered taxable person and the expression "job worker" shall be construed accordingly; (62) "local authority" means (a) a "Panchayat" as defined in clause (d) of Article 243 of the Constitution; (b) a "Municipality" as defined in clause (e) of Article 243P of the Constitution; (c) a Municipal Committee, a Zilla Parishad, a District Board, and any oth....
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....taxable territory" means the territory which is outside the taxable territory; (70) "notification" means notification published in the Official Gazette and the expressions 'notify' and 'notified' shall be construed accordingly; (71) "output tax" in relation to a taxable person, means the CGST/SGST chargeable under this Act on taxable supply of goods and/or services made by him or by his agent and excludes tax payable by him on reverse charge basis; (72) "outward supply" in relation to a person, shall mean supply of goods or services, whether by sale, transfer, barter, exchange, licence, rental, lease or disposal or any other means made or agreed to be made by such person in the course or furtherance of business; (73) "person" includes- (a) an individual; (b) a Hindu undivided family; (c) a company; (d) a firm; (e) a Limited Liability Partnership; (f) an association of persons or a body of individuals, whether incorporated or not, in India or outside India; (g) any corporation established by or under any Central, State or Provincial Act or a Government company as defined in section 2(4....
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....able, or to whom possession or use of the goods is given or made available, and (c) where no consideration is payable for the supply of a service, the person to whom the service is rendered, and any reference to a person to whom a supply is made shall be construed as a reference to the recipient of the supply; Explanation.- The expression "recipient" shall also include an agent acting as such on behalf of the recipient in relation to the goods and/or services supplied. (82) "registered importer" means the importer registered in terms of the provisions of Central Excise Rules, 2002; (83) "regulations" means the regulations made by the Commissioner under any provision of the Act on the recommendation of the Council; (84) persons shall be deemed to be "related persons'' if only - (a) they are officers or directors of one another's businesses; (b) they are legally recognized partners in business; (c) they are employer and employee; (d) any person directly or indirectly owns, controls or holds twenty five per cent or more of the outstanding voting stock or shares of both of them; (e) o....
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....erson supplying the said goods and/or services and shall include an agent acting as such on behalf of such supplier in relation to the goods and/or services supplied; (95) "supply'' shall have the meaning as assigned to it in section 3; (96) "tax" means goods and services tax levied on the supply of goods and/or services under this Act and includes any amount payable under section 9 or sub-section (10) of section 18; (97) "tax period'' means the period for which the return is required to be filed; (98) "taxable person'' shall have the meaning as assigned to it in section 10; (99) "taxable supply'' means a supply of goods and/or services which is chargeable to tax under this Act; (100) "non-taxable supply'' means a supply of goods or services which is not chargeable to tax under this Act; (101) "taxable territory'' means the territory to which the provisions of this Act apply; (102) "Tax Return Preparer" means any person who has been approved to act as a Tax Return Preparer under the scheme framed under section 43; (103) "telecommunication service" means service of any description (including electronic ....