Supply definition governs taxable transactions including supplies for consideration, deemed supplies, and specified government exclusions.

The provision defines supply to include transfers of goods or services for consideration, import of services for consideration, activities in Schedule I made without consideration, and activities in Schedule II treated as goods or services; excludes Schedule III activities and specified public authority functions from being supplies; and empowers the Government, on the Council's recommendation, to notify transactions to be treated as supply of goods rather than services or vice versa.

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