CHAPTER 2

 

Supply as per GST law

Section 7(1) of CGST Act: for the purpose of CGST Act, the expression ‘supply’ includes:

  1. All forms of supply of goods or services or both, made or agreed to be made for a consideration by a person in the course or furtherance of business, such as:
    Sale
    Transfer
    Barter
    Exchange
    License
    Rental
    Lease
    Disposal
  2. Importation of services for a consideration whether or not in the course or furtherance of business.
  3. The activities specified in Schedule I made or agreed to be made without a consideration.
  4. Activities to be treated as supply of goods or services in Schedule II.

 

Activities which are neither supply of goods or services:

  1. As specified in Schedule III.
  2. Activities or transactions undertaken by Central / State Government / local authority, in which they are engaged as public authorities as notified.