Question

An “enterprise”, in a GST context, is not an activity or series of activities done: Which of the below options is most correct?

On a regular or continuous basis in the form of a lease,

licence or grant of interest in property.

In the form of an adventure or concern in the nature of trade

. In the form of a business

. By a religious institution.

By a person as an employee.

Answer 1

An enterprise is defined as an activity or series of activities done in a certain manner or by certain entities. The activities covered include those done in the form of a business or an adventure or concern in the nature of trade, leasing on a regular or continuous basis, activities done by charitable or religious institutions, superannuation funds, and activities done by the Commonwealth, a State, a Territory, or local government.

The most correct statement is :- on an regular or continous basis in the form of lease, license or grant of interest in property.

In the form of an adventure or concern in the nature of trade

In the form of a business

By a religious institution.

Incorrect statement is By a person as an employee.