smit (student) (30 Points)
29 December 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(176622 Points)
Replied 02 January 2018
"Is there any difference between furtherance of business and ordinary course of business?"
As such none........ but the core issue should be any trade, commerce, manufacture, profession, vocation, adventure, wager or any other similar activity whether or not it is for pecuniary benefits.
Supplies made as a main activity of business gets covered under ambit of supply by use of words ‘course or furtherance’. E.G. A banking company selling hypothecated vehicles due to default in payment of instalments by borrowers sells them in the course or furtherance of business. An insurance company selling waste paper generated in its office does so in the course or furtherance of its business of insurance. Similarly renovation of a building purchased may be for furherance of business for a real estate agent but the same may not be true for a manufacturere if his office or business is not situated in that building.
If you are utilising the laptop/printer etc for business purpoes then you can avail the input credit on the same, but not for personal usage.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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