supply under gst
Model CGST Law (Revised)
- u/s 2(95): “supply” shall have the meaning as assigned to it in section 3;
Model IGST Law (Revised)
- u/s 2(26): “supply” has the same meaning as assigned to it in section 3 of the CGST Act, 2016;
Taxable Supply
In order to attract GST, the following elements are required to be satisfied, i.e.
- (i) supply of goods and / or services;
- (ii) supply is for a consideration (few exceptions);
- (iii) supply is made in the course or furtherance of business;
- (iv) supply is made in the taxable territory;
- (v) supply is a taxable supply; and
- (vi) Supply is made by a taxable person (covered u/s 10)
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