Question

The furtherance of business is a how to increase the business

Answer 1

The word ‘business’ has been defined in the GST law. Broadly it means any trade, commerce, manufacture, profession, vocation, adventure, wager or any other similar activity whether or not it is for pecuniary benefits. Any activity ancillary or incidental to these activities are also covered as business. It has also been provided that any activity or transaction falling in above categories would be business whether or not there is volume, frequency, continuity or regularity in transactions.

Answer 2

Meaning of Furtherance of Business Under GST.

Thus, in course or furtherance of Business means either of following:

Anything done in relation to business, while carrying out business or simply a revenue-generating ordinary activity of that organisation/concern.

The definition of a furtherance is the act of helping, or an advancement.

A Principal Place of Business is the central location from where a taxpayer's business is conducted and the business's records and accounts are stored.

An example of a furtherance is an internship that gives experience before applying to jobs.

${\fcolorbox{blue}{black}{\orange{\:\:\:\:\:\:\:\:\:\:\:\:\:\:\:\:\:\:\:\:\:\:\:\:\: DecentMortal\:\:\:\:\:\:\:\:\:\:\:\:\:\:\:\:\:\:\:\:\:\:\:\:\:}}}$