TYPES OF \u2018SUPPLY\u2019 UNDER \u2018GST\u2019 REGIME
By: – DR.MARIAPPAN GOVINDARAJAN
Goods and Services Tax – GST
Dated:- 2-5-2017<\/p>\n
Section 66B of the Finance Act, 1994 provides that there shall be levied a tax at the rate of fourteen per cent. on the value of all services, other than those services specified in the negative list, provided or agreed to be provided in the taxable territory by one person to another and collected in such manner as may be prescribed. The central excise duty is leviable on the manufacturing of goods. GST, being subsumed service tax and central excise duty, levies tax on the concept of supply. The key word that is to be remembered by the stakeholders is 'supply'. In this article the meaning of the term 'supply' and the types of various supplies are discussed for the information of the readers.
\nSupply
\nSection 7 of the Act defines the term 'supply' including-
\n * all forms of supply of goods or services or both such as sale, transfer, barter, exchange<\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n nuous supply of goods' as a supply of goods which is provided, or agreed to be provided, continuously or on recurrent basis, under the contract whether or not by means of a wire, cable, pipeline or other conduit, and for which the suppler invoices the recipient on a regular or periodic basis and includes supply of such goods as Government may, subject to such conditions as it may, by notification, specify. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n al supply = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n oods to or by a Special Economic Zone developer or a Special Economic Zone Unit; = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" TYPES OF \u2018SUPPLY\u2019 UNDER \u2018GST\u2019 REGIMEBy: – DR.MARIAPPAN GOVINDARAJANGoods and Services Tax – GSTDated:- 2-5-2017 Section 66B of the Finance Act, 1994 provides that there shall be levied a tax at the rate of fourteen per cent. on the value of all services, other than those services specified in the negative list, provided or agreed … Continue reading “TYPES OF \u2018SUPPLY\u2019 UNDER \u2018GST\u2019 REGIME”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-3325","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/3325","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3325"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/3325\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3325"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nSection 2(33) defines the expression 'continuous supply of services' as a supply of services which is provided, or agreed to be provided, continuously or on recurrent basis, under a contract for a period exceeding three months with periodic payment obligation and includes supply of such services as the Government may, subject to such conditions, as it may, by notification, specify.
\nInward supply
\nSection 2(67) defines the expression 'inward supply' in relation to a person, as receipt of goods or services or both whether by purchase, acquisition or any other means with or without co<\/p>\n
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\nSection 2(90) defines the expression 'principal supply' as the supply of goods or services which constitutes the predominant element of a composite supply and to which any other supply forming part of that composite supply is ancillary.
\nInter-State supply
\nSection 7 of Integrated Goods and Services Tax Act, defines the expression 'inter-State Supply' as supply of goods, where the location of the supplier and place of supply are in-
\n * two different States;
\n * two different Union territories; or
\n * a State and a Union territory
\nshall be treated as a supply of goods in the course of inter-State trade or commerce.
\nSupply of goods imported into the territory of India, till they cross the customs frontiers of India, shall be treated to be a supply of goods in the course of inter-State trade or commerce.
\n Where the location of the supplier and the place of supply are in-
\n * two different States;
\n * two different Union territories; or
\n * a State and a Union territory
\nsha<\/p>\n
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\n * goods imported into the territory of India till they cross the customs frontiers of India; or
\n * supplies made to a tourist referred to in Section 15.
\nThe supply of services where the location of the supplier and the place of supply of services are in the same State or same Union territory shall be treated as intra-State supply. The intra-State supply of services shall not include supply of services to or by a Special Economic Zone developer or a Special Economic Zone unit.
\nExplanation 1. -for the purposes of this Act, where a person has-
\n * an establishment in India and any other establishment outside India;
\n * an establishment in a State or Union territory and any other establishment outside that State; or
\n * an establishment in a State or Union territory and any other establishment being a business vertical registered with that State or Union territory,
\nthen such establishments shall be treat<\/p>\n
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