GST Supply

Taxable Event in GST

• The taxable event in GST is the 'supply' of goods or services.

Definition of 'Supply'

• 'Supply' includes all forms of supply of goods or services, such as sale, transfer, barter, lease, licensing, or disposal made for a consideration.

Separate Persons in GST

• The following are considered as separate persons in GST:
  • Any legal person who owns or controls a business
  • A parent and subsidiary company
  • A trustee and beneficiary of a trust
  • A partner and partnership firm
  • A manufacturer and job worker
  • A principal and agent

Supply in GST

• Supply includes all forms of supply of goods or services, including:
  • Sale, transfer, barter, lease, licensing, or disposal made for a consideration
  • Supply of goods and services imported into the territory of India
  • Supply of goods and services to or by a Special Economic Zone (SEZ) developer or an SEZ unit

Events Done Away with in GST

• The following events have been done away with in GST:
  • Manufacturing and generation of electricity have been exempted
  • Services provided by an employee to an employer in the course of employment
  • Services by an intermediary, such as an agent or broker, to a principal

Taxable Event

• The taxable event in GST is the 'supply' of goods or services, which includes:
  • Sale, transfer, barter, lease, licensing, or disposal made for a consideration
  • Supply of goods and services imported into the territory of India
  • Supply of goods and services to or by a Special Economic Zone (SEZ) developer or an SEZ unit