{"id":54517,"date":"2017-05-04T11:27:24","date_gmt":"2017-05-04T05:57:24","guid":{"rendered":"http:\/\/www.vskills.in\/certification\/tutorial\/?p=54517"},"modified":"2024-04-12T14:20:15","modified_gmt":"2024-04-12T08:50:15","slug":"gst-definitions-gst-meaning","status":"publish","type":"page","link":"https:\/\/www.vskills.in\/certification\/tutorial\/gst-definitions-gst-meaning\/","title":{"rendered":"GST Tutorial | GST Definitions |  GST Meaning"},"content":{"rendered":"<h1>GST Definitions | GST Meaning<\/h1>\n<p><span class=\"rendered_qtext\"><strong>GST Meaning &#8211;<\/strong> GST is Goods and Service Tax is an indirect tax which the Government of India is planning to levy on all goods and services apart from those exempted by the GST law. <\/span>The sole purpose of GST is to <span class=\"rendered_qtext\">put an end to multiple taxes like excise, CST, VAT, service tax which are levied on different products, starting from the source of manufacturing, till reaching the end consumer.<\/span><\/p>\n<p><span style=\"text-decoration: underline;\"><strong>GST Definitions<\/strong><\/span><\/p>\n<p><em><strong>Section &nbsp;2. Definitions<\/strong><\/em><\/p>\n<p>In this Act, unless the context otherwise requires,-<\/p>\n<p>(1) \u201cactionable claim\u201d shall have the meaning assigned to it in section 3 of the Transfer of Property Act, 1882 (4 of 1882);<\/p>\n<p>(2) \u201caddress of delivery\u201d means the address of the recipient of goods and\/or services indicated on the tax invoice issued by a taxable person for delivery of such goods and\/or services;<\/p>\n<p>(3) \u201caddress on record\u201d means the address of the recipient as available in the records of the supplier;<\/p>\n<p>(4) \u201cadjudicating authority\u201d means any authority competent to pass any order or decision under this Act, but does not include the Board, the Revisional Authority, Authority for Advance Ruling, Appellate Authority for Advance Ruling, the First Appellate Authority and the Appellate Tribunal;<\/p>\n<p>(5) \u201cagent\u201d means a person, including a factor, broker, commission agent, arhatia, del credere agent, an auctioneer or any other mercantile agent, by whatever name called, who carries on the business of supply or receipt of goods or services on behalf of another, whether disclosed or not;<\/p>\n<p>(6) \u201caggregate turnover\u201d 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;<\/p>\n<h5>This part of the section therefore explains that 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.<\/h5>\n<p>&nbsp;<\/p>\n<h3><a href=\"https:\/\/www.vskills.in\/certification\/accounting-banking-and-finance\/gst-professional\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-61729\" src=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/05\/GST-Tutorials.png\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" srcset=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/05\/GST-Tutorials.png 1200w, https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/05\/GST-Tutorials-300x45.png 300w, https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/05\/GST-Tutorials-768x115.png 768w, https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/05\/GST-Tutorials-1024x153.png 1024w, https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/05\/GST-Tutorials-712x106.png 712w\" alt=\"\" width=\"1200\" height=\"179\"><\/a><\/h3>\n<p>&nbsp;<\/p>\n<p><a href=\"http:\/\/www.vskills.in\/certification\/tutorial\/accounting-banking-finance\/gst-tutorial\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-55483 size-full\" src=\"http:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2017\/05\/Back-Arrow.jpg\" alt=\"GST Tutorial Index\" width=\"47\" height=\"52\">Back to GST Tutorial Main Page <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>GST Definitions | GST Meaning GST Meaning &#8211; GST is Goods and Service Tax is an indirect tax which the Government of India is planning to levy on all goods and services apart from those exempted by the GST law. The sole purpose of GST is to put an end to multiple taxes like excise,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"categories":[4,7079],"tags":[7097,7107,7104,7093,7103,7080,7089,7106,7101,7102,7100,7094,7091,7095,7090,7096,7092,7086,7099,7085,7083,7084,7105,7088,7087,7098],"class_list":["post-54517","page","type-page","status-publish","hentry","category-accounting-banking-finance","category-gst-tutorial","tag-about-gst-bill","tag-full-form-of-gst-bill","tag-good-and-service-tax","tag-goods-and-services-tax","tag-goods-service-tax","tag-gst","tag-gst-bill","tag-gst-bill-full-form","tag-gst-bill-meaning","tag-gst-definition","tag-gst-details","tag-gst-full-form","tag-gst-india","tag-gst-meaning","tag-gst-registration","tag-gst-tax","tag-income-tax-act","tag-income-tax-return","tag-meaning-of-gst","tag-service-tax","tag-tax","tag-tax-return","tag-what-does-gst-stand-for","tag-what-is-gst","tag-what-is-gst-bill","tag-what-is-gst-tax"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - 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