FAQs on Meaning and Scope of Supply Under GST

Meaning and Scope of Supply What is the taxable event under GST? Ans. The taxable event under GST shall be the supply of goods or  services or both made for consideration  in  the course or furtherance of business. The taxable events under the existing indirect tax laws such as manufacture, sale, or provision of services Read more about FAQs on Meaning and Scope of Supply Under GST[…]

Schedule-III of GST Act – Activities Not Treated as Supply (Negative List)

SCHEDULE III of CGST Act, 2017- ACTIVITIES OR TRANSACTIONS WHICH SHALL BE TREATED NEITHER AS A SUPPLY OF GOODS NOR A SUPPLY OF SERVICES [See section 7] 1.   Services by an employee to the employer in the course of or in relation to his employment. 2.  Services by any court or Tribunal established under any law Read more about Schedule-III of GST Act – Activities Not Treated as Supply (Negative List)[…]

Schedule II – Activities to be Treated as “Supply of Goods” or “Supply of Services”

SCHEDULE II of CGST Act, 2017 – ACTIVITIES TO BE TREATED AS SUPPLY OF GOODS OR SUPPLY OF SERVICES [See section 7] 1. Transfer (a)  any transfer of the title in goods is a supply of goods; (b)   any transfer of right in goods or of undivided share in goods without the transfer of title Read more about Schedule II – Activities to be Treated as “Supply of Goods” or “Supply of Services”[…]

Schedule I – Specified Activities Without Consideration to be Treated as “Supply”

SCHEDULE I of CGST Act – ACTIVITIES TO BE TREATED AS SUPPLY EVEN IF MADE WITHOUT CONSIDERATION [See section 7] 1.  Permanent transfer or disposal of business assets where input tax credit has been availed on such assets. 2.  Supply of goods or services or both between related persons or between distinct persons as specified in Read more about Schedule I – Specified Activities Without Consideration to be Treated as “Supply”[…]

Concept of “Supply” Under GST

“Supply” – The Taxable Event Under GST Taxable event under GST is supply. The concept of a supply is broader than a sale is illustrated by the British case involving the taxpayer’s sale of a known stolen car at auction (Customs and Excise Commissioners v Oliver, [1980] 1 All ER 353). Although the sale may Read more about Concept of “Supply” Under GST[…]