[aaykarbhavan] 31 Points You Must Know in Model GST Act, 2016 (Section Wise Avenue Analysis)

Dear All,

 

The Model GST Act, 2016 released by Sub-Committee II Report is yet to be authenticated since it is not available and hosted on government’s website. Nonetheless, we have tried to analyse the significant areas outlined in the Model GST Act, 2016 which needs significant attention / discussion of trade at large and law-makers as well. The Law to be implemented in finality needs to be progressive. 

1)     The Definition of Business / Supply is wide – What can be the Implications ?

a.       Section 2(13) – The term ‘Business’ shall include, “ …. any similar activity whether or not it is for a pecuniary benefit”. Pecuniary benefit means monetary benefit. Then the definition of business goes on to say, “ … whether or not there is volume, frequency, continuity or regularity of such transaction”.

Complete Article Link is as under:-

 

http://goo.gl/jR99NG

 

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Thanks & Regards,

 

CA Ankit Gulgulia (Jain)

+91-9811653975

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Posted by: "Ankit Gulgulia" <ankitgulgulia@gmail.com>

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