Supply under GST is defined as the movement of goods or services from a taxable person to another taxable person in the course of business. It is a taxable event that triggers the obligation to charge GST.

Types of Supply:

• Supplies of Goods: Sale of tangible goods, such as vehicles, electronics, and raw materials.
• Supplies of Services: Provision of services, such as transportation, telecommunication, and financial services.
• Supplies of Goods and Services: Sale of goods and services simultaneously, such as the sale of goods with installation services.

GST Rate:

The GST rate applicable to a supply depends on the nature of the supply. The most common rates are:

• 18%: Standard rate applicable to most supplies of goods and services.
• 12%: Rate for certain specified goods and services, such as food and beverages.
• 5%: Rate for certain essential goods and services, such as petroleum products and medicines.

GST Registration:

A person who exceeds the threshold limit of Rs. 20 lakh in a financial year or is required to charge GST on supplies exceeding Rs. 20 lakh in a financial year is obligated to register for GST.

GST Invoice:

A GST invoice is a document issued by a taxable person to a customer that details the supply of goods or services and the GST charged. It is a mandatory document for all taxable supplies.

GST Returns:

GST payers are required to file returns regularly to the government in the prescribed format. The frequency of filing returns depends on the turnover of the business.

Key Points:

• Supply under GST is the movement of goods or services from a taxable person to another taxable person in the course of business.
• The GST rate applicable depends on the nature of the supply.
• GST registration is mandatory for persons exceeding the threshold limit or required to charge GST on supplies exceeding the threshold.
• GST invoices are mandatory for all taxable supplies.
• GST returns are required to be filed regularly to the government.