Section-1 and section-2 of the CGST ACT

  • What is actionable claim under GST| section 2(1)

Transfer of property act,1882.actionable claim

A claim to any debt other than a debt secure by mortgage of improvable property or by hypothecation or pledge of moveable property, or to any beneficial interest in movable property not in the possession, either actual or constructive, of the claimant, which the civil court recognizes as affording grounds for relief, whether such debt or beneficial interest be existent, accruing, conditional or contingent;
example:- betting, laudatory, insurance claim
the actionable claim is related to goods.

  • what is address of delivery and address on record.

The address means the address of the recipient of goods or service or both indicated on the tax invoice issued by a registered person for delivery of such goods or services or both:

( it means the address of the recipient as available in the record of the supplier, this is related to services.)

  • What is taxable supply under GST| section 2(108)

Section 2(108) taxable supply means a supply of goods or services or both which is leviable to tax under this act;
(this is related to goods, this section is not under into the schedule 3, this is not related to the non-supply, and under this section fill full the meaning of supply.)

  • What is reverse charge under GST|section 2(98) | CGST ACT:defination

It means the liability to pay by the recipient of supply of goods or services or both instead of the supplier or such goods or service or both under sub-section (3)or sub-section (4)of section 9(CGST).or under sub-section (3) or sub-section(4)of section 5(IGST) of the integrated goods and services tax act

  • What is union territory under GST| section 2(114)|CGST ACT: Definition

Union Territory means a country that does not have its own authority, it is the right of the Central Government. It has no power to make laws and make amendments.
union territory place.
A. Andaman and Nicobar island,
b. Lakshadweep
c. daman and diu
d. Chandigarh

  • what is meaning of India under GST| section 2(56)|CGST act

section 2(56) the territory of India as referred to in article 1 of the constitution.its territorial waters, seabed, and sub oil underlying such waters. the continental shelf, exclusive economic zone or any other maritime zone as referred to in the territorial waters, continental shelf, exclusive economic zone, and other maritime zones act 1976, and the air space above its territory and territorial waters;

  • what is definition of securities under GST| section 2(101)|CGST act

Under section (101)securities shall have the same meaning as assigned to it in clause (h)of section 2 of the security contracts (regulation)act,1956;
securities include:-
1 share, scrips, stocks, bonds, debenture, debenture stock or other marketable securities of a like nature in or of any incorporated company or other body corporate;
1 (a) derivative;
(b)units or any other instrument issued by any collective investment scheme to the investors in such schemes;
(c)securities receipt as defined in clause(zg)of section 2 of the securitization and reconstruction of financial assets and enforcement of securities interest act 2002
(d)units or any other such instrument issued to the investors under any mutual fund scheme
2 Government securities
3 Such other instrument as may be declared by the central government to be securities
4 Right and interest in securities

  • What is definition of goods under GST| section 2(52)|CGST ACT

section 2(52) it means every kind of movable property other than money and securities but includes actionable claim growing crops. grass and things attached to or forming part of the land which are agreed to be severed before supply or under a contract of supply;

  • What is define of capital goods under GST| section 2(19)

Section 2(19) it means goods, the value of which is capitalized in the books of account of the person claiming the input tax credit and which are used or intended to be used in the course or furtherance of business;

  • What is definition of place of business under GST| section 2(85)

place of business include-
(a) A place from where the business is ordinarily carried on and includes a warehouse a godown or any other place where a taxable person store his goods, supplies or receives goods or service or both
(b)A place where a taxable person maintains his books of account
(c)A place where a taxable person is engaged in business through an agent. By whatever name called(the simple meaning of place of business is Our place of business is the place where we do business)

  • What is definition of location of the recipient of services under GST

Section-2 clause(17)(a) where a supply is received at a place of business for which the registration has been obtained.the location of such place of business;
(b)Where a supply is received at a place other than the place of business for which registration has been obtained (a fixed establishment elsewhere), the location of such fixed establishment;
(c)Where a supply is receiving at more than one establishment.wheter the place of business or fixed establishment. the location of the establishment most directly concerned with the receipt of the supply;
(d)In absence of such places the location of the usual place of residence of the recipient

  • What is non resident taxable person under GST| section2(77)

Section 2(77) any person who occasionally undertakes transaction involving the supply of goods or service or both, whether as principal or agent or in any other capacity, but who has no fixed place of business or residence in India

  • What is e-commerce OPERATOR in GST| section 2(45)|CGST ACT definition

Section 2(45) Any person who owns, operates or manages digital or electronic facility or platform for electronic commerce this is e-commerce.

  • What is turnover in state or turnover in Union territory| section 2 (112)

The aggregate value of all taxable supplies (excluding the value of inward supplies on which tax is payable by a person on reverse charge basis) and exempt supplies made within a state or union territory by a taxable person .exports of goods or services or both and inter-state supplies of goods or services or both made from the state or union territory by the said taxable person but excludes central tax, union territory tax, integrated tax and cess

  • What is audit under GST|section 2(118)|CGST ACT” definition meaning

The examination of records, returns, and other documents maintained or furnished by the registered person under this ACT OF THE RULES made thereunder or under any other law for the time being in force to verify the correctness of turnover declared, taxes paid, refund claimed and input tax credit availed. and to assess his compliance with the provisions of this ACT or the rules made thereunder