Professional Documents
Culture Documents
Supply and Its Types
Supply and Its Types
(GST)
Meaning & Scope of Supply
Supply includes :
(a) All forms of supply of goods and/or services such as sale, transfer,
barter, exchange, license, rental, lease or disposal made or agreed
to be made for a consideration by a person in the course or
furtherance of business,
Outward Supply
6
List of Exempt Supply
The following are the businesses or services fall under the
list of Exempt Supply:
•Financial Services
•Public Transport Services
•Private Education Services
•Tolled Highways or Bridges
•Childcare Services
•Funeral, Burial and Cremation Services
•Private Healthcare Services
•Supplies Made by Societies
•Residential Land or Building
•Agriculture or General Use Land
Public Transport Services Under Exempt Supply
Illustration
9
Principal Supply
10
Mixed Supply
Means : 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 composite supply;
Illustration
7
Taxability : Mixed Supply
8
Zero Rated Supply
Means export of goods or services or both; or
supply of goods or services or both to a Special
Economic Zone developer or a Special Economic
Zone unit (eligible for ITC)
Time of Supply-Goods & Services
12
General Rule
Time of supply of goods could be the earlier of the
following:
The date of issue of the invoice with respect to the
supply; or
The date on which the supplier receives the
payment.
Where it is not possible to determine the Time of
Supply, then Time of Supply would be:
In case where Return to be filed, then the date on which
Return to be filed.
In any other case on which CGST/SGST is paid.
Taxes not to be subsumed
●Basic Customs Duty ●Export Duty ●Toll Tax
●Road and Passenger Tax ●Electricity Duty
●Stamp Duty ●Property Tax
• The Central GST and the State GST would be levied simultaneously on
every transaction of supply of goods and services except the
exempted goods and services.
• While the location of the supplier and the recipient within the
country is immaterial for the purpose of CGST, however, SGST
would be chargeable only when the supplier and the recipient are
both located within the State.
Working Example of GST under CGST & SGST
How GST will operate under
Integrated GST (GST) ?
• Integrated GST (IGST) would be levied and collected by the
Centre on inter-State supply of goods and services.
GSTR – 3 GST monthly return along with the Monthly 20th of next month
payment of amount of tax
GSTR – 4 Quarterly return for GST ( compounding Quarterly 18th of month next quarter
cases)
GSTR – 5 Periodic return by Non-Resident foreign Monthly 20th of next month
taxpayer
GSTR – 6 Return for Input Service Distributor (ISD) Monthly 15th of next month
GSTR – 8 GST return for ecommerce suppliers Monthly 10th of next month
• But with the introduction of single tax GST regime, the double taxation
effect due to disputed goods and services in the current tax system will
get eliminated. In GST tax structure both supplies of goods and
services will be treated once with the unique rate of tax respectively.
• In current Service tax system there are provisions for two half-yearly
returns in regards to services rendered during that period but in GST
Model law there are multiple returns prescribed adding to compliance
costs.