composite supply means a supply made by a taxable person to a recipient consisting of two or more taxable supplies of goods or services or both, or any combination thereof, which are naturally bundled and supplied in conjunction with each other in the ordinary course of business, one of which is a principal supply;
composite supply means a supply made by a taxable person to a recipient consisting of two or more taxable supplies of goods or services or both, or any combination thereof, which are naturally bundled and supplied in conjunction with each other in the ordinary course of business, one of which is a principal supply;Illustration.- Where goods are packed and transported with insurance, the supply of goods, packing materials, transport and insurance is a composite supply and supply of goods is a principal supply;
composite supply means a supply consisting of -
Examples of composite supply in a sentence
Composite supply must take into account supplies as effected at a given point in time on "as is where is" basis.
More Definitions of composite supply
composite supply means a supply made by a taxable person to a recipient consisting of two or more taxable supplies of goods or services or both, or any
composite supply means a supply made by a taxable person to a recipient consisting of two or more taxable supplies of goods or services or both, or any combination thereof, which are naturally bundled and
composite supply means a supply made by a
composite supply means a supply made by a taxable person to a recipient consisting of 2 or more taxable supplies of goods or services or both, or any combination thereof, which are naturally bundled and supplied in conjunction with each other in the ordinary course of business, one of which is principal supply, illustration: Where goods are packed and transported with insurance, the supply of goods, packing materials, transport and insurance is a composite supply and supply of goods is a principal supply. The word composite supply should not be confused with mixed supply, Section 2(74) defines mixed supply as follows:
composite supply means a supply made by a taxable person to a recipient consisting of two or more taxable
composite supply means supply of goods/services or both which are naturally bundled and are provid- ed in conjunction which each other in the course of business. Since above stated goods are supplied to in-patients as prescribed by the doctor for which a single bill is raised and after usage of medicines etc, treatment gets completed.
composite supply means a supply made by a taxable person to a recipient comprising two or more supplies of goods or services, or any combination thereof, which are naturally bundled and supplied in conjunction with each other in the ordinary course of business, one of which is a principal supply;Illustration : Where goods are packed and transported with insurance, the supply of goods, packing materials, transport and insurance is a composite supply and supply of goods is the principal supply.Author comments: The term composite supply is used at in the definition of ‘supply’ [section 3 (5)]. In this regard, the tax liability on a composite or a mixed supply shall be determined in the following manner: