CENTRAL GOODS AND SERVICE TAX 2017: SCOPE OF SUPPLY & TAX LIABILITY ON COMPOSITE AND MIXED SUPPLIES (SECTION 7 & 8 )
Section 7 of the CGST Act defines what constitutes a “supply” under GST. It includes all forms of supply of goods or services such as sale, transfer, barter, exchange, lease, or disposal made for a consideration in the course or furtherance of business. It also covers import of services for consideration, and specific activities listed in Schedule I even if made without consideration. Activities listed under Schedule III and certain government functions are excluded from the definition of supply. The section further empowers the government to classify transactions as either supply of goods or services as recommended by the GST Council.
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