Meaning and scope of supply under GST (Part 1) – Since CGST, SGST or IGST will be levied on supply of goods or services, it is important to understand this term first

Dated:- 23-8-2016 – Section – 003 – Meaning and scope of supply MODEL GST LAW – GOODS AND SERVICES TAX ACT, 2016 – Draft June 2016 Sub Section (1) states that:- Supply includes (a) all forms of supply of goods and/or services such as sale, transfer, barter, exchange, license, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business, (b) importation of service, whether or not for a consideration and whether or not in the course or furtherance of business, and (c) a supply specified in Schedule I, made or agreed to be made without a consideration. Accordingly: – Whereas clause (a) covers all transactions where consideration is there, any free supply / without consideration i

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =