Analysis of Definition of Scope Supply under GST
The law has provided an inclusive meaning to the word ‘supply’ which implies that the specific transactions which are listed in the said Section are only illustrative. (1) For the purposes of this Act, the expression “supply” includes, (a) All forms of supply of goods or services or both such as 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. SALE:- Sales is lawful, permanent and absolute transfer of ownership of property in goods for money consideration under valid contract such that no rights are left behind with the transferor. Here Title of goods are moving. TRANSFER:- Transfer means to pass over, convey, relinquishment of right, abandonment of a claim lawfully. Hence in simple term transfer means Lawful convey of property from one person to another person. Here right in goods are mov