When goods or services are supplied through the process of sale or transfer, barter or exchanged, licensed or leased to the consumer. It also includes services that are imported for consideration. It refers to the total amount of product which is made available to customers. Anything in demand which is being sold can be termed as supply.
GST, a unified tax regime for indirect taxes. This is perhaps the biggest tax reform in the regime of indirect taxes as it succeeds a number of indirect taxes that are applicable under the current regime.
The taxation framework in India is about to experience a radical shift once the GST (Goods and Services Tax) system takes over.
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