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What is Supply of Goods and What is Supply of Services?
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What is Supply of Goods and What is Supply of Services?
A supply of goods involves:-
The transfer of ownership of the goods from one person to another person
Any transaction treated as a supply of goods under hire purchase or finance lease agreement.
“Services” mean anything done including the granting, assignment or surrender of any right or the making available of any facility or advantage. It may include a transfer of possession of goods without transferring the ownership.
The transfer of ownership of the goods from one person to another person
Any transaction treated as a supply of goods under hire purchase or finance lease agreement.
“Services” mean anything done including the granting, assignment or surrender of any right or the making available of any facility or advantage. It may include a transfer of possession of goods without transferring the ownership.
Re: What is Supply of Goods and What is Supply of Services?
Customs has an encompassing definition for supply of services: any supply which is not a supply of goods is a supply of services.
joseph- Posts : 277
Join date : 2014-09-25
Re: What is Supply of Goods and What is Supply of Services?
Section 4 of the GST Act 2014: anything which is not a supply of goods but is done for a consideration is a supply of services.
joseph- Posts : 277
Join date : 2014-09-25
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