Important Keyword: Section 14 of the UTGST Act 2017 Definitions, Section 97, Section 100, Section 16, Section 15, UTGST Act.
Table of Contents
Section 14 of the Union Territory Goods and Services Tax Act, 2017: Definitions.
In this Chapter, unless the context otherwise requires,-
(a) ”advance ruling” means a decision provided by the Authority or the Appellate Authority to an applicant on matters or on questions specified in sub-section (2) of section 97 or sub-section (1) of section 100 of the Central Goods and Services Tax Act, in relation to the supply of goods or services or both being undertaken or proposed to be undertaken by the applicant;
(b) ”Appellate Authority” means the Appellate Authority for Advance Ruling constituted under section 16;
(c) ”applicant” means any person registered or desirous of obtaining registration under this Act;
(d) ”application” means an application made to the Authority under sub-section (1) of section 97 of the Central Goods and Services Tax Act;
(e) ”Authority” means the Authority for Advance Ruling, constituted under section 15.
Frequently Asked Questions
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What is the significance of Section 14 UTGST Act: Definitions?
Section 14 of the UTGST Act provides essential definitions that clarify terminology used throughout the legislation, ensuring a clear understanding of tax-related concepts.
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Which terms are defined under Section 14 UTGST Act: Definitions?
Section 14 includes definitions for key terms such as goods, services, taxable person, and supply, among others, which are critical for the application of the UTGST.
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How does Section 14 UTGST Act: Definitions affect taxpayers?
By providing precise definitions, Section 14 helps taxpayers comprehend their obligations and rights under the UTGST, promoting compliance and reducing ambiguities.
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Are there any specific examples of terms defined in Section 14 UTGST Act: Definitions?
Yes, Section 14 defines terms such as input tax, which refers to the tax paid on purchases that can be claimed as credit, and aggregate turnover, which impacts tax thresholds.
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Can I find the definitions in Section 14 UTGST Act: Definitions online?
Yes, the full text of the UTGST Act, including Section 14 and its definitions, is available on official government websites and legal resource platforms.
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Why is it important to understand Section 14 UTGST Act: Definitions?
Understanding the definitions in Section 14 is crucial for accurate tax reporting and compliance, helping individuals and businesses navigate the tax system effectively.
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Does Section 14 UTGST Act: Definitions apply to all types of goods and services?
Yes, Section 14 applies to all types of goods and services that fall under the jurisdiction of the UTGST, ensuring a comprehensive legal framework.
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How often are the definitions in Section 14 UTGST Act: Definitions updated?
Definitions in Section 14 can be amended through legislative updates, reflecting changes in the economic environment and tax policies.
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Can businesses seek clarification on definitions in Section 14 UTGST Act: Definitions?
Yes, businesses can seek clarification from tax professionals or official authorities to ensure proper interpretation and application of the definitions in Section 14.
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What role do definitions in Section 14 UTGST Act: Definitions play in dispute resolution?
Clear definitions help mitigate disputes by providing a common understanding of terms, facilitating smoother interactions between taxpayers and tax authorities.
Download Pdf: https://taxinformation.cbic.gov.in/
