GST Supply Archives

Mixed Supply and Composite Supply under GST

November 4, 2024 Admin GST Supply

The Goods and Services Tax (GST) regime in India has brought various concepts to standardize indirect taxation, two of which are Mixed Supply and Composite Supply. These terms might sound similar but have distinct meanings and implications under GST. Correctly categorizing supplies is crucial, as it impacts the applicable tax rates and compliance. Principal Supply: This refers to the good […]

Definition of Supply under GST: Scope explained

September 26, 2024 Admin GST Supply

Definition of Supply: Under GST, the law widely defines ‘supply’ to include all types of transactions involving goods and services, such as sale, transfer, barter, exchange, licensing, rental, leasing, or disposal. A person must make or intend to make these transactions for consideration in the course or furtherance of their business. This comprehensive definition is crucial as GST is levied […]