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GOODS AND SERVICES TAX (GST) Important Definitions under GST – The Goods and Services Tax (GST) is governed mainly by the Central Goods and Services Tax Act, 2017 (CGST Act) and the Integrated Goods and Services Tax Act, 2017 (IGST Act) . Understanding definitions is very important for exams , because GST liability depends on these terms. (a) Business – Section 2(17), CGST Act, 2017 Definition (Simplified) Under GST, business is defined very widely . It includes: Any trade, commerce, manufacture, profession or vocation Any activity done for profit or not for profit Supply of goods or services connected with trade Activities of clubs, associations, societies Government or local authority activities (in some cases) 👉 Profit motive is NOT necessary under GST. Key Points for Exam Even one-time activity can be business Even charitable or religious activity may be business Frequency or continuity is not compulsory Important Case Law State of Gujarat v. Raipur ...