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MEANING AND SCOPE OF SUPPLY UNDER MODEL GST LAW

Goods and Services Tax - GST - By: - Mr. M. GOVINDARAJAN - Dated:- 2-11-2016 - Taxable event The taxable event in respect of services is for the services provided or to be provided. The taxable event also depends upon the place of provision of service and point of taxation. Likewise the taxable event in excise duty is the removal of excisable goods manufactured or produced. In VAT the taxable event is the time of sale of goods. The taxable events under the existing indirect laws shall stand subs .....

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consideration and whether or not in the course of furtherance of business, and a supply specified in Schedule I, made or agreed to be made without a consideration Section 3(4) provides that notwithstanding anything contained in Section 3(1) the supply of any branded service by an aggregator, under a brand name or trade name owned by him shall be deemed to be a supply of the said service by the said aggregator. Consideration Since the taxable event on supply is mainly on consideration it is immin .....

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inducement of, the supply of goods and/or services, whether by the said person or by any other person. Deposit - consideration? The proviso to Section 2(28) provides that a deposit, whether refundable or not, given in respect of the supply of goods and/or services shall not be considered as payment made for the supply unless the supplies applies the deposit as consideration of the supply. Under service tax provisions the deposit is not liable to pay tax but the advance payment received for any s .....

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; Supply of goods and/or services by a taxable person to another taxable or non taxable person in the course or furtherance of business. The proviso to this Schedule provides that 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 goods. Determination of service Section 3(2) provides that Schedule II, in respect of matters mentioned therein , shall apply for determining what is, or is to be treated as a supply of goods or .....

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ns that are to be treated as- a supply of services and not as a supply of goods; or neither a supply of goods nor a supply of services. Essential ingredients to supply In order to constitute a supply the following element are required to be satisfied- supply of goods and/or services; supply is for a consideration; supply is made in the course of furtherance of business; supply is made in the taxable territory; supply is a taxable supply; supply is made by a taxable person. Under certain circumst .....

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ly of goods. In case title is not transferred, the transaction would be treated as supply of services in terms of Schedule II (1). In some cases, possession may be transferred immediately but tile may be transferred at a future date. Such transactions will also be treated as supply of goods. Types of supplies The Act gives various types of supplies. Inward supply and outward supply; Continuous supply of goods and continuous supply of services; Composite supply; Exempt supply; Zero rated supply. .....

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of business except in case of such supplies where the tax is payable on reverse charge basis. Continuous supply of goods Section 2(30) defines the term continuous supply of goods as 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 period basis. Continuous supply of services Section 2(31) defines .....

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or more services; or a combination of goods and services. provided in the course of furtherance of business, whether or not the same can be segregated. Exempt Supply Section 2(42) defines the term exempt supply as supply of any goods and/or services which are not taxable under this Act and includes such supply of goods and/or services which are specified in the Schedule …..(to be specified) of the Act or which may be exempt from tax under Section 10. Zero rated supply Section 2(109) defi .....

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