Devesh Thakur & Co(Chartered Accountants)

Concept of Supply under GST by CA Devesh Thakur

Concept of Supply under GST by CA Devesh Thakur

Concept of Supply under GST by CA Devesh Thakur

Introduction

Get PDF Notes

Conditions:

Example:

🔹 2. Future Supplies Also Covered

GST applies to agreed-to-be-made supplies too.
Advance received for a future supply = Taxable

Example:
Advance ₹10,000 for service to be delivered next month → GST payable on receipt.

🔹 3. Consideration Must Be Present (Sec 2(31))

Can be:

Example:

🔹 4. Supply by a Person – Section 2(84)

“Person” includes:

Example:
Supply made by a registered LLP to another business unit

🔹 5. Self-Supply is Taxable

Distinct persons under GST = Separate GSTINs
Transfer between branches in different states = Supply

Example:
Stock transferred from Delhi Head Office to Bangalore branch → GST applicable

🔹 6. Club/Association to Members – Section 7(1)(aa)

Inserted via Finance Act, 2021 (retrospective effect from 01.07.2017)

Example:
Gym membership fees collected by an association → Supply

🔹 7. Import of Services – Section 7(1)(b)

Example:
Netflix US subscription for personal entertainment = Supply

🔹 8. Deemed Supply Without Consideration – Section 7(1)(c)

As per Schedule I, following are deemed as supply even without consideration:

Examples:

Classification Based on Schedule

Intra-State vs Inter-State Supply

Reference:

  1. GST is a destination-based consumption tax.
  2. Supply is the triggering event under GST.
  3. Future supplies, self-supplies, and imports for personal use are all covered.
  4. Others are not treated as supply at all (Schedule III).

Author: CA Devesh Thakur
Category: GST Basics | 30 Days GST Challenge – Day 3

Learn More
Day 2: GST Explained with Simplicity | Threshold, Supply, Types, Valuation & Key Terms

Day 1:Introduction to GST – What is GST and Why It Matters?

Exit mobile version