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GST - Concept of Supply

Goods and Services Tax - GST - By: - CA Akash Phophalia - Dated:- 11-7-2016 - Introduction : The most awaited GST is all about supply as it merger sale and service in the term supply. The learned author aims at enlightening readers about the concept and importance of supply. Meaning and scope of supply The law provides for the definition and scope of apply. In simple terms, supply includes all the following - All forms of supply of goods and/or services such as sale, transfer, barter, exchange, .....

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n of business assets to a private or non-business use. Services put to a private non-business use. Assets retained after deregistration. Supply of goods and/or services by a taxable person to another taxable or non-taxable person in the course of furtherance of business. However, the supply of goods by a registered taxable person to a job worker in terms of section 43A shall not be treated as supply of good Supply as mentioned in Schedule II Schedule II, in respect of matters mentioned therein, .....

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ase, tenancy, easement, license to occupy land is a supply of services. Lease or letting out of the building including a commercial, industrial or residential complex for business or commerce, either wholly or partly, is a supply of services. Treatment or process Treatment or process which is being applied to another person's goods is a supply of services. Transfer of business assets Goods forming part of the assets of a business when transferred or disposed of so as no longer to form part o .....

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siness assets of a taxable person, are sold by any other person who has the power to do so to recover any debt owed by the taxable person, the goods shall be deemed to be supplied by the taxable person in the course or furtherance of his business. Where any person ceases to be a taxable person, any goods forming part of the assets of any business carried on by him shall be deemed to be supplied by him in the course or the furtherance of his business immediately before he ceases to be a taxable p .....

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pletion certificate, where required, by the competent authority or before its first occupation, whichever is earlier. Here, the expression construction includes additions, alterations, replacements or remodeling of any existing civil structure; Temporary transfer or permitting the use or enjoyment of any intellectual property right; Development, design, programming, customization, adaption, up gradation, enhancement, implementation of information technology software; Agreeing to the obligation t .....

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