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TMI BlogDefinitionsX X X X Extracts X X X X X X X X Extracts X X X X ..... 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 means a person who cultivates land personally, f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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, the nature of the regulatory environment, for example, banking, insurance, or public utilities. (19) capital goods means goods, the val ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... her 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 separate tickets or invoices are issued; Explanation .- For the purposes of this clause, stopover means a place where a passenger can disembark either to transfer to another conveya ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... roducts 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 said manufacturer or from where the goods are sold by or on behalf of the said manufacturer, under cover of an invoice; or (ii) an importer or from the depot of an importer or from the premises of the consignment agent of the importer, under c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 other authority legally entitled to, or entrusted by the Central or any State Government with the control or management of a municipal or local fund; (d) a Cantonment Board as defined in section 3 of the Cantonments Act, 2006 (41 of 2006); (e) a Regional Council or a District Council constituted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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(45) of the Companies Act, 2013 (18 of 2013); (h) any body corporate incorporated by or under the laws of a country outside India; (i) a co-operative society registered under any law relating to cooperative societies; (j) a local authority; (k) government; (l) society as defined under the Societies Registration Act, 1860 (21 of 1860); (m) trust; and (n) every artificial ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pplied. (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) one of them directly or indirectly controls the other; (f) both of them are directly or indirectly controlled by a third person; (g) together they directly or indirectly control a third person; or (h) they are members of the same family; Explanation I. - The term person also includes legal persons. Explanation II. - Persons who are associated in the business of one another in that one is the sole agent or sole distributor or sole concessionaire, howsoever described, of the other, shall be deemed to be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0; (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 mail, voice mail, data services, audio text services, video text services, radio paging and cellular mobile telephone services) which is made available to users by means of any transmission or reception of signs, signals, writing, images and sounds or intelligence of any nature, by wire, radio, visual or other electro-magnetic means; (104) time of supply of goods shall have the meaning as assigned to it in section 12 ; (105) time of supply of services shall have the meaning as assigned to it in section 13; (106) to cultivate personally means to carry on any agricultural operation on one s ow ..... 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