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TYPES OF SUPPLY UNDER GST REGIME

Goods and Services Tax - GST - By: - Mr. M. GOVINDARAJAN - Dated:- 2-5-2017 - Section 66B of the Finance Act, 1994 provides that there shall be levied a tax at the rate of fourteen per cent. on the value of all services, other than those services specified in the negative list, provided or agreed to be provided in the taxable territory by one person to another and collected in such manner as may be prescribed. The central excise duty is leviable on the manufacturing of goods. GST, being subsumed .....

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sideration by a person in the course or furtherance of business; import of services for a consideration whether or not in the course or furtherance of business; the activities specified in Schedule I, made or agreed to be made without a consideration;; and the activities to be treated as supply of goods or supply or services as referred to in Schedule II; Types of Supply Composite Supply Section 2(30) defines the expression composite supply means a supply made by a taxable person to a recipient .....

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nuously or on recurrent basis, under the contract whether or not by means of a wire, cable, pipeline or other conduit, and for which the suppler invoices the recipient on a regular or periodic basis and includes supply of such goods as Government may, subject to such conditions as it may, by notification, specify. Section 2(33) defines the expression continuous supply of services as a supply of services which is provided, or agreed to be provided, continuously or on recurrent basis, under a cont .....

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ble person, as supply of goods or services or both, whether by sale, transfer, barter, exchange, licence, rental, lease or disposal or any other mode, made or agreed to be made by such person in the course or furtherance of business. Mixed supply Section 2(74) defines the expression mixed supply as 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 comp .....

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he predominant element of a composite supply and to which any other supply forming part of that composite supply is ancillary. Inter-State supply Section 7 of Integrated Goods and Services Tax Act, defines the expression inter-State Supply as supply of goods, where the location of the supplier and place of supply are in- two different States; two different Union territories; or a State and a Union territory shall be treated as a supply of goods in the course of inter-State trade or commerce. Sup .....

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ted to be a supply of services in the course of the inter-State trade or commerce. Supply of goods or services or both- when the supplier is located in India and the place of supply is outside India; to or by a Special Economic Zone or a Special Economic Zone unit; or in the taxable territory, not being an intra-State supply and not covered elsewhere in this section shall be treated as a supply of goods or services or both in the course of inter-State trade or commerce. Intra-State supply Sectio .....

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plies made to a tourist referred to in Section 15. The supply of services where the location of the supplier and the place of supply of services are in the same State or same Union territory shall be treated as intra-State supply. The intra-State supply of services shall not include supply of services to or by a Special Economic Zone developer or a Special Economic Zone unit. Explanation 1. -for the purposes of this Act, where a person has- an establishment in India and any other establishment o .....

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