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furtherance of business

Mahesh Korgaokar (Student) (47 Points)

28 June 2017

can some one explain me the meaning of furtherance of business " in gst

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2 Replies

Mansoor Mampad (99 Points)
Replied 29 June 2017

Business Launching `and Promotion Expenditures including Capital Asset and Advt expenditures ...Sales Promotion

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Dr A SUBRAHMANYAM (CEO) (95 Points)
Replied 25 October 2017

With the inclusive definition of Sec 2(17) of the Act, it is explicit that "Business" is in relation to the specified activity....trade means trader or trading.... manufacture means manufacturer......profession means professional services..... etc. These all issues will crop up in the course of availing of Input Tax Credit, which was hitherto remained controversial in the Modvat as well as Cenvat regime. Conflicting Judicial Decisions and piece-by-piece Govt Circulars will pour into action in the coming days !!