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2. Interpretation in this Act, unless the context otherwise requires-

"annual declaration" means a declaration required to be lodged by a limited liability partnership under section 68;

"approved liquidator" has the meaning assigned to it in the companies Act 1965 [Act 125] and includes the Director General of insolvency when acting as a liquidator of a limited liability partnership;

"body corporate" means any body corporate formed or incorporated or existing within Malaysia or outside Malaysia and includes any foreign company, limited liability partnership and foreign limited liability partnership registered under this Act but does not include-

(a) any body corporate that is incorporated within Malaysia and is by notice of the Minister published in the Gazette declared to be a public authority or an instrumentality or agency of the Government of Malaysia or of any state or to be a body corporate which is not incorporated for commercial purposes;

(b) any corporation sole;

(c) any society registered under any written law relating to co-operative societies; and (d) any trade union registered under any written law as a trade union;

"commission" means the companies commission of Malaysia established under

the companies commission of Malaysia Act 2001[Act 614];

"conventional partnership" means a partnership registered under the Registration of Businesses Act 1956 [partnership established by two or more persons Act 197] and a for the purposes of carrying on any professional practice;

"court" means the High court or a judge of the High court;

"Director General of customs and Excise" means the Director General of customs and Excise appointed under section 3 of the customs Act 1967[Act 235];

"Director General of insolvency" has the meaning assigned to it in the Bankruptcy Act 1967[Act 360];

"distribution" means distribution of dividends, profits, returns or refunds of capital by the limited liability partnership, whether in cash or in kind; "document" has the meaning assigned to it in the Evidence Act 1950[Act 56];

"financial year" means the period in respect of which any profit and loss account of a limited liability partnership is made up, whether that period is a year or not;

"inland Revenue Board" means the inland Revenue Board of Malaysia established under the inland Revenue Board of Malaysia Act 1995 [Act 533];

"limited liability partnership" means a limited liability partnership registered under section 11 or a foreign limited liability partnership registered under section 45;

"limited liability partnership agreement" , in relation to a limited liability partnership, means a written agreement between the partners of the limited liability partnership or between the limited liability partnership and its partners which determines the mutual rights and duties of the partners among themselves and their rights and duties in relation to the limited liability partnership;

"Minister" means the Minister charged with the responsibility for domestic trade;

"partner" , in relation to a limited liability partnership, means any person who has been admitted as a partner in the limited liability partnership in accordance with the limited liability partnership agreement, and includes a salaried partner whether or not he is an employee of the limited liability partnership; "prescribed" means prescribed by the Minister by regulations made under this Act;

"private company" has the meaning assigned to it in the companies Act 1965;

"professional practice" means the practice as specified in the first column of the First schedule which is governed by the written law as specified in the second column of the First schedule, respectively; "property", in relation to a limited liability partnership, includes land, money, goods, chose in action, goodwill, and every valuable thing, whether corporeal or incorporeal, movable or immovable, and whether situated in Malaysia or elsewhere and also includes obligations, servitudes, and every description of estate, interest and profit, present or future, vested or contingent, arising out of or incident to the property; "register" means any register kept and maintained under this Act; "Registrar" means the Registrar of Limited Liability Partnerships as designated under subsection 5(1) and includes any Assistant Registrar appointed under subsection 5(2).

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GST India Solution is an effort of firm of professionals who welcome implementation of GST. This is an interactiveplatformthat aspires to disseminate right knowledge to professionals, practitioners and public at large. This platform has beenfloatedbya firm of Chartered Accountants relentlessly working in field of direct and indirect taxes since early 1985.

Goods & Service Tax

Our core competence is statutory compliance, advisory, corporate tax planning and appellate matters of direct and indirect taxesandcorporate training sessions on GST.

The senior partner of the firm has to his credit several professional publications viz., Delhi Sales Tax Right to Use Goods Act, Delhi VAT, Maharashtra VAT, West Bengal VAT, Haryana VAT published by Taxmann. Madhya Pradesh VAT and Chhattisgarh VAT were published by Suvidha Law House, Bhopal. He has also addressed seminars on indirect taxes organized by professional bodies like ICAI, IMA, NIFM etc. and has also contributed articles on subjects of pro. . . . .