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of <h1>Understanding 'Supply' Under Meghalaya GST Act 2017: Key Inclusions and Exclusions for Business Transactions</h1> Under the Meghalaya Goods and Services Tax Act, 2017, 'supply' encompasses various transactions involving goods or services, including sale, transfer, barter, exchange, license, rental, lease, or disposal for consideration in business contexts. It also includes import of services for consideration, certain activities without consideration as per Schedule I, and activities classified under Schedule II. However, activities listed in Schedule III or those undertaken by governmental bodies as public authorities, as notified by the Government, are not considered supply. The Government may, based on Council recommendations, classify transactions as supply of goods or services through notifications.
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