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Supply Under GST - 1 Video Lecture | Crash Course for CA Intermediate

Q: 1. What is the definition of supply under GST?

Ans. Under the Goods and Services Tax (GST) framework, 'supply' is a comprehensive term that includes the sale, transfer, barter, exchange, license, rental, lease, or disposal of goods or services. It encompasses all forms of supply made for a consideration, whether by a person or a business entity, and is crucial in determining the taxability of goods and services under GST.

FAQs on Supply Under GST - 1 Video Lecture - Crash Course for CA Intermediate

1. What is the definition of supply under GST?

Ans. Under the Goods and Services Tax (GST) framework, "supply" is a comprehensive term that includes the sale, transfer, barter, exchange, license, rental, lease, or disposal of goods or services. It encompasses all forms of supply made for a consideration, whether by a person or a business entity, and is crucial in determining the taxability of goods and services under GST.

2. What are the different types of supplies recognized under GST?

Ans. GST recognizes several types of supplies, including but not limited to: 1. Taxable Supply: Any supply on which GST is levied. 2. Exempt Supply: Supplies that are not subject to GST. 3. Zero-Rated Supply: Supplies that are taxable at a rate of 0%, such as exports. 4. Composite Supply: A supply comprising two or more goods or services, where one is a principal supply. 5. Mixed Supply: A supply consisting of two or more individual supplies of goods or services that are made together for a single price.

3. How does the concept of 'consideration' impact the definition of supply under GST?

Ans. The term 'consideration' refers to the payment made in exchange for goods or services. Under GST, the definition of supply includes only those transactions that involve consideration. However, certain supplies, such as those made without consideration (e.g., gifts or free samples), are also considered supply under specific conditions outlined in the GST law. This broadens the scope of taxable activities.

4. What is the significance of the place of supply in determining GST liability?

Ans. The place of supply is critical in determining the applicable GST rates and whether the supply is intra-state or inter-state. It helps in identifying which state has the jurisdiction to levy tax. For instance, if the supply is made within the same state, it attracts State GST (SGST) and Central GST (CGST), while inter-state supplies attract Integrated GST (IGST). The correct identification of the place of supply ensures compliance with tax regulations and proper revenue allocation to states.

5. Can a supply under GST include activities that are not commercial in nature?

Ans. Yes, under GST, certain non-commercial activities can also be classified as supply. For example, activities such as the transfer of goods by a principal to an agent for sale, or the supply of goods or services without consideration in specific scenarios (like charitable donations), can still be treated as supply. This ensures comprehensive coverage of various transactions under the GST regime, promoting transparency and accountability.

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Sep 30, 2025 Last updated

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