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 supplied in
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
composite supply means a supply m ad e by a t axable p erson to a re cipie nt consisting of two or more taxable supplies of goods or services or both, or any combination t h ereof, w hich are n a t urally b u n dle d a n d supplied in conjunction with each other in the ordinary course of business, one of which is a principal supply;
composite supply means a supply ma de by a taxable person to a re cipient consisting of two or more taxable supplies of goods or services or both, or any combination thereof, w hich are naturally b un dled and supplied in conjunction with each other in the ordinary course of business, one of which is a principal supply;