Section 2(4) in The Maharashtra Value Added Tax Act, 2002
(4)"business" includes, -(a)any service;(b)any trade, commerce or manufacture;(c)any adventure or concern in the nature of service, trade, commerce or manufacture,whether, or not the engagement in such service, trade, commerce, manufacture, adventure or concern is with a motive to make gain or profit and whether or not any gain or profit accrues from such service, trade, commerce, manufacture, adventure or concern.Explanation. - For the purpose of this clause, -[***] [Deleted '(i)' by Maharashtra Act No. 42 of 2017, dated 29.5.2017.](ii)any transaction of sale or purchase of capital assets pertaining to such service, trade, commerce, manufacture, adventure or concern shall be deemed to be a transaction comprised in business;(iii)sale or purchase of any goods, the price of which would be credited or, as the case may be, debited to the profit and loss account of the business under the double entry system of accounting shall be deemed to be transactions comprised in business;(iv)any transaction in connection with the commencement or closure of business shall be deemed to be a transaction comprised in business;
