The time of supply fixes the point when the liability to charge GST arises. It also indicates when a supply is deemed to have been made. The CGST/SGST Act provides separate time of supply for goods and services.
As a general principle, import of services without consideration will not be considered as supply under GST in terms of Section 3. However, import of services by a taxable person from a related person or from any of his other establishments outside India, in the course or furtherance of business, even without consideration will be […]
Zero rated supply means export of goods and/or services or supply of goods and/or services to a SEZ developer or a SEZ Unit.
Yes. Schedule-III of the model GST law lists certain activities such as (i) services by an employee to the employer in the course of or in relation to his employment, (ii) services by any Court or Tribunal established under any law, (iii) functions performed by members of Parliament, State Legislatures, members of the local authorities, […]
A mixed supply comprising two or more supplies shall be treated as supply of that particular supply which attracts the highest rate of tax.
Mixed Supply means two or more individual supplies of goods or services or any combination thereof, made in conjunction with each other by a taxable person for a single price where such supply does not constitute a composite supply. For example, a supply of package consisting of canned foods, sweets, chocolates, cakes, dry fruits, aerated […]
A composite supply comprising two or more supplies, one of which is a principal supply, shall be treated as a supply of such principal supply.
Composite Supply means a supply made by a taxable person to a recipient comprising two or more supplies of goods or services, or any combination thereof, which are naturally bundled and supplied in conjunction with each other in the ordinary course of business, one of which is a principal supply. For example, where goods are […]
Supply of goods on hire purchase shall be treated as supply of goods as there is transfer of title, albeit at a future date.
Development, design, programming, customization, adaptation, upgradation, enhancement, implementation of information technology software shall be treated as supply of services as listed in Sl. No. 5 (2)(d) of Schedule –II of the model GST law.