principal supply definition

principal supply means the supply of goods or services which constitutes the predominant element of a composite supply and to which any other supply forming part of that composite supply is ancillary;
principal supply means the supply of goods or services which constitutes the predominant element of a composite supply and to which any other supply forming part of that composite supply is ancillary and does not constitute, for the recipient an aim in itself, but a means for better enjoyment of the principal supply;
principal supply means the supply of goods or services which constitutes the predominant element of a composite supply and

Examples of principal supply in a sentence

  • Principal supply has been defined in Section 2(90} of the Central Goods and Services Tax Act as supply of goods or services which constitutes the predominant element of a composite supply and to which any other supply forming part of that composite supply is ancillary.

  • Further, CBIC vide Circular No. 11/11/2017-GST dated 20.10.2017, has clarified as to what constitutes the 'Principal supply' in composite supply of printing contracts.

  • Also, it was held that in such activity, 'Supply of printing' is the 'Principal supply' of the said 'composite supply'.


More Definitions of principal supply

principal supply means supply of goods or service which is the predominant element of a composite supply to which the other supplies are only ancillary. Thus, a plain reading of composite supply and principal supply indicates that a composite supply has only one principal supply and if a particular contract has more than one principal supply, the contract will cease to be a composite supply.
principal supply means the supply of goods or services which constitutes
principal supply means th e supp l y of goods or services whi h con 1i w1e s the pn:J om i nanl e lement of a composite supply and to whic h any other sup pl y fom1ing pan or that com po ·i t..: s upply is ancillary: From the above definition of principal supp l y it is clear that in the present cast: t he re is .'.I principal supply of goods or services which constitutes the predominant element of a composite supply . The predominant element of the composite supply is to be dete rmi ned on the basis of facts and circ umstance s of the present case. Now classification of this composite supp l y, as goods or ervice wo u ld depend on ,,hich supply is the principal supply which is also to be deten n i ne d on the basis of facts and circumstances of the present case. Further the tax liability on compo sit e sup pl y has been determined under Sec t io n 8 o'l t heCGST/SGST Act, 2017, as unde r: T he tax liabi'lity on a composite or a mixed supply shall be determined in the follo\\'ing manner, nam ely : -
principal supply means the supply of goods or services wh ich cons titutes the pre dominant element of a compos ite supply and to which any other supply form ing part of that compos ite supply is ancillary;
principal supply means the supply of goods or services which constitutes the predominant element of a composite supply and to which any other supply forming part of that composite supply is ancillary. -
principal supply means the supply of electricity to the Building by the Board to the Principal Intake Meter
principal supply means the supply of goods or services which constitutes the predominant element of a composite supply and to which any other supply forming part of that composite supply is ancillary;Illustration:Indian Airlines provides passenger transportation service. They also supply food on board to passengers. Supply of transportation services would be the principal supply and the service as a whole would qualify as composite supply.One principal supply2 or more supplies of goods/ servicesNaturally bundled Mixed SupplySection 2(74)