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Define the term “Supply” as defined under the GST law and explain the scope of supply.
As per provisions & rules of GST law, supply can be defined as a taxable event of supply of goods & services, or both made for a consideration in the course or furtherance of business. The scope of supply covers all forms of supply of goods and/or services including sale, transfer, barter, exchange, licence, rental, lease, or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business. Imports of goods and/or services is also covered under the scope of GST.
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