Taking further to our discussion, we are continuing our discussion the definitions given under Section 2 of revised IGST law and comparing the same with old model GST law to know the changes made in revised law:-\n<\/p>\n

Section 2(1) Accounts<\/strong>: the newly added definition reads as follows:
\n\u201cAccount means an account bearing interest to the depositor, and includes a non-resident external account and a non-resident ordinary account\u201d
\nNew definition of \u2018Account\u2019 has been inserted which refers to bank account. It seems that \u201cinterest\u201d may be exempted from payment of GST. Earlier this definition was not there. It\u2019s main use will be in the determination of time of supply and place of supply.<\/p>\n

Section 2(4) Custom frontiers of India:<\/strong> the newly added definition reads as follows:
\nmeans the limits of the area of a customs station as defined in section 2 of the Customs Act, 1962 (52 of 1962) in which imported goods are ordinarily kept before clearance by customs authorities.
\nThis definition is newly inserted so as to cover bonded warehouses and hence clearance title change before crossing customs frontiers will not be subjected to GST.\n<\/p>\n

Section 2(19) non-taxable online recipient<\/strong> : the definition reads as follows:
\nmeans Government, a local authority, a governmental authority, an individual or any person not registered under section 23 19 of the CGST Act, 2017 receiving online information and database access or retrieval services in relation to any purpose other than commerce, industry or any other business or profession, located in taxable territory;<\/p>\n

Explanation.-For the purposes of this clause, ?governmental authority? means an authority or a board or any other body:<\/p>\n

(i) set up by an Act of Parliament or a State legislature; or
\n(ii) established by Government, with 90% or more participation by way of equity or control, to carry out any function entrusted to a municipality under article 243Wof the Constitution<\/p>\n

This is a newly added definition which has been added keeping in view the recent amendments made in the service tax laws relating to online data access and retrieval services. Definition has been inserted so as to exclude any downloads or data retrieval of personal purpose. This is very welcome step. This also indicates that GST may not be applicable on services.<\/p>\n","protected":false},"excerpt":{"rendered":"

Taking further to our discussion, we are continuing our discussion the definitions given under Section 2 of revised IGST law and comparing the same with old model GST law to know the changes made in revised law:- Section 2(1) Accounts: the newly added definition reads as follows: \u201cAccount means an account bearing interest to the … Read more<\/a><\/p>\n","protected":false},"author":17,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[15],"tags":[217],"class_list":["post-3851","post","type-post","status-publish","format-standard","hentry","category-gst","tag-gst"],"yoast_head":"\n