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What is ‘supply’ in terms of GST?

In GST regime, all ‘supply’ such as sale, transfer, barter, lease, import of services etc. of goods and/ or services made for a consideration will attract CGST (to be levied by Centre) and SGST (to be levied by State).

As GST will be applicable on ‘supply’ the erstwhile taxable events such as ‘manufacture’, ‘sale’, ‘provision of services’ etc. will lose their relevance.

Also, distinction, in GST regime, would lose its importance as both goods and services would be treated at par for taxing purposes. Effectively, trader and manufacturer will both be equal from the perspective of taxation.