Supply and types of supply in GST in India

1. How many schedules are there relating to supply?

There are 3 schedules:
1. SCHEDULE I - Supply with or without consideration.
2. SCHEDULE II- Activities to be treated as supply.
3.  SCHEDULE III- Activities which are not supply.

2. What is composite supply?

Two or more supply.
Naturally bundled.
In ordinary course of business.
One of which is principal supply.

Example:
Goods are packed and transported with insurance.
Goods, packing material, transport and insurance is composite supply, when goods is principal supply.

3. What is principal supply?

The supply which is predominant element of composite supply and others are ancillary.

4. What is Mixed supply?

Two or more individual supplies of goods or services in conjunction with each other for a single price.

5. What are the main determining factors of composite supply?

*Existence of principal supply.
*Nature and manner of bundling e.i. whether the bundling is natural or artificial.
*Manner of pricing


6. Which section of CGST Act mentioned different forms of supply?

Section 7 of CGST Act.

7. Whether making gift to employees in excess of Rs.    50,000. 00 for furtherance of business qualifies as supply?

Yes

8. Whether payment for the following will qualify as supply:
    - not selling any article
    - not making any article

Yes

9. Whether exempt supply includes:
    - NIL rate
    - Exempt us 6 / 11 of IGST Act
    - Non taxable supply

Yes