Home List Manuals GSTGST Ready ReckonerImportant Definitions, terms, meaning and Scope This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
Continuous supply of goods - GST Ready Reckoner - GSTExtract Continuous supply of goods means a supply of goods which is provided, or agreed to be provided, continuously or on recurrent basis, under a contract, whether or not by means of a wire, cable, pipeline or other conduit, and for which the supplier invoices the recipient on a regular or periodic basis and includes supply of such goods as the Government may, subject to such conditions, as it may, by notification, specify. Example : Examples Of Continuous Supply Of Goods Are: 1. Open Purchase Orders With An Understanding Of Fortnightly Billing 2. Vmi (Vendor Managed Inventory) Where The Agreed Periodicity For Billing say monthly /Forthnightly 3. Supply Of Gases Through Pipeline With A Weekly Billing Schedule; 4. Supply Of Say, 5 Liter Water Cans On An As And When Required Basis with frequency of Monthly billing under a contract
|