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of <h1>GST Act 2016: Section 003 Defines 'Supply' to Include Sale, Transfer, Importation, and Free Supplies per Schedule I.</h1> The Goods and Services Tax (GST) Act of 2016 defines 'supply' under Section 003 as encompassing various transactions, including sale, transfer, barter, exchange, license, rental, lease, or disposal for consideration in business activities. It also includes importation of services, regardless of consideration or business purpose, and certain supplies without consideration as specified in Schedule I. While transactions with consideration are clearly defined, the inclusion of free supplies through Schedule I raises questions about its necessity. The section distinguishes domestic supply from importation, which is specifically addressed under Section 3(1)(b) for services.
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