Question 4 - What are the necessary elements that constitute supply under MGL? - FAQ on GST dated 21.9.2016 based on Draft Model GST

Q 4. What are the necessary elements that constitute supply under MGL? Ans. In order to constitute a supply , the following elements are required to be satisfied, i.e.- (i) supply of goods and / or services; (ii) supply is for a consideration; (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.