Supply under GST defines the taxable event and captures no-consideration and import-service transactions as taxable supplies. The taxable event under GST is the supply of goods or services for consideration in the course or furtherance of business; supply requires goods/services, consideration (unless excepted), business nexus, taxable territory, taxability and a taxable person. Certain transactions-including import of services and items listed in Schedule I-are treated as supply despite missing elements. Transfers of title and possession, self-supplies, and distinctions in Schedule II and Schedule III determine whether a transaction is a supply of goods, a supply of services, or neither.
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Provisions expressly mentioned in the judgment/order text.
Supply under GST defines the taxable event and captures no-consideration and import-service transactions as taxable supplies.
The taxable event under GST is the supply of goods or services for consideration in the course or furtherance of business; supply requires goods/services, consideration (unless excepted), business nexus, taxable territory, taxability and a taxable person. Certain transactions-including import of services and items listed in Schedule I-are treated as supply despite missing elements. Transfers of title and possession, self-supplies, and distinctions in Schedule II and Schedule III determine whether a transaction is a supply of goods, a supply of services, or neither.
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