Scope of supply under GST: definition, consideration rules, taxable person and place determine tax character of transactions. The concept of Supply under GST is the single taxable event defined by six parameters: supply of goods or services, consideration, course or furtherance of business, supply by a taxable person, taxability, and place within the taxable territory. Goods and services are defined with specified inclusions and exclusions; Schedule II lists treated supplies and Schedule III lists activities outside GST. Specified transactions are deemed supplies without consideration. Place of supply and supplier location determine intra- or inter-state character and applicable tax treatment. Composite and mixed supplies are taxed by rules identifying principal or highest-rate supply.
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Scope of supply under GST: definition, consideration rules, taxable person and place determine tax character of transactions.
The concept of Supply under GST is the single taxable event defined by six parameters: supply of goods or services, consideration, course or furtherance of business, supply by a taxable person, taxability, and place within the taxable territory. Goods and services are defined with specified inclusions and exclusions; Schedule II lists treated supplies and Schedule III lists activities outside GST. Specified transactions are deemed supplies without consideration. Place of supply and supplier location determine intra- or inter-state character and applicable tax treatment. Composite and mixed supplies are taxed by rules identifying principal or highest-rate supply.
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