Meaning and scope of supply under GST (Part 1) - Since CGST, SGST or IGST will be levied on supply of goods or services, it is important to understand this term first
23 August, 2016
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Scope of supply under GST includes consideration-based transactions, importation of services, and specified free supplies. The statutory definition of supply under the Model GST Law comprises three categories: supplies for consideration in the course or furtherance of business ... Summary
MODEL GST LAW - GOODS AND SERVICES TAX ACT, 2016 - Draft June 2016
Scope of supply under GST includes consideration-based transactions, importation of services, and specified free supplies.
The statutory definition of supply under the Model GST Law comprises three categories: supplies for consideration in the course or furtherance of business (sale, transfer, barter, exchange, licence, rental, lease or disposal); importation of services regardless of consideration or business purpose; and specified supplies made without consideration as listed in Schedule I. Clause (a) targets domestic, consideration-based transactions; clause (b) treats importation of services as separately taxable; and clause (c) assimilates certain gratuitous transactions into the tax net via Schedule I.
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