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of <h1>Understanding 'Supply' Under Section 7 of CGST Act: Key Transactions, Inclusions, and Exceptions Explained</h1> The GST Ready Reckoner outlines the definition and scope of 'Supply' under Section 7 of the CGST Act, 2017. 'Supply' includes various transactions like sale, transfer, barter, and more, conducted for consideration in business. It also covers transactions between entities and their members. Import of services for consideration is included, irrespective of business context. Schedule I identifies certain activities as supply even without consideration, while Schedule III lists exceptions. The government can specify transactions as supply of goods or services. Key elements of supply are consideration and business furtherance; absence of these means it is not a sale.
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