9911796707
TMI BlogServicesX X X X Extracts X X X X X X X X Extracts X X X X ..... ions in securities or separate consideration is charged for conversion of money from one form to another form denomination. As per An Education Guide - Guidance Note 2 - What is Service? 'Service' has been defined in clause (44) of the new section 65B and means - any activity for consideration carried out by a person for another and includes a declared service. The said definition further provides that 'Service' does not include - any activity that constitutes only a transfer in title of (i) goods or (ii) immovable property by way of sale, gift or in any other manner (iii) a transfer, delivery or supply of goods which is deemed to be a sale of goods within the meaning of clause (29A) of article 366 of the Constitution a tran ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... person located in taxable territory and establishment of such person located in non-taxable territory are deemed to be establishments of distinct persons. Further an unincorporated association or body of persons and members thereof are also deemed as separate persons. For implications please see point no 2.4.2 of this Guide. Explanation 4 explains that a branch or an agency of a person through which the person carries out business is also an establishment of such person. Para 2.1.1 of An Education Guide - What does the word 'activity' signify? 'Activity' has not been defined in the Act. In terms of the common understanding of the word activity would include an act done, a work done, a deed done, an operation carried out, exe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t services which appears to be a phrase of wide ambit? Support services have been defined in section 65B of the Act as 'infrastructural, operational, administrative, logistic marketing or any other support of any kind comprising functions that entities carry out in ordinary course of operations themselves but may obtain as services by outsourcing from others for any reason whatsoever and shall include advertisement and promotion, construction or works contract, renting of movable or immovable property, security, testing and analysis. Thus services which are provided by government in terms of their sovereign right to business entities, and which are not substitutable in any manner by any private entity, are not support services e.g. gran ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
