Under the Goods and Services Tax (GST), the supply of goods and services is considered a taxable event, as tax liability only arises when a good or service is supplied. All GST-related acts define various types of supplies such as sale, transfer, barter, exchange, license, rent, and lease as taxable events. For a supply to be taxable, it must be made for consideration in the course of business by a registered taxable person within the taxable territory.

3.  Under GST, taxable event is very important,
because only after the taxable event occurs,
taxability is generated under GST.

4.  Under GST, supply of Goods and Services is
considered a taxable event, because the tax
liability will arise only, when Goods or
Services will be supplied.

5.  Determination of taxable events is important
under GST.
 Creation of tax-liability is possible only after
the event occurs.
 Event occurs at special time.

6.  Taxation can be on the date after the date of
occurrence of events.
 All GST related Acts considers supply of
goods and services as taxable event.

7.  Sale
 Transfer
 Barter
 Exchange

8.  License
 Rent
 Lease
 Disposal

9.  Supply of anything other than goods or
services does not attract GST.
 Supply should be made for a consideration.
 Supply is a taxable event.

10.  There can not be mere supply without
application of GST.
 Supply should be made in the course or
furtherance of business.
 Supply should be made by a taxable person.

11.  Supply should be made within the taxable
territory.
 Supply includes import of services.
 Without supplier, there can be no supply.

12.  No one can supply to himself.
 Something need to be done for supply.
 Import of goods are not included under
supply.

13.  Intra-state Supply
 Inter-state Supply
 Supply with consideration
 Supply without consideration

14.  In lieu of supply of goods and services,
something is paid to the supplier by
recipient. It is called the Consideration of
Supply.

15.  Consideration is defined as any payment to
be made or monetary value of any act:
 (i) whether in money or otherwise
 (ii) the supply of goods and services or both

16.  (iii) whether by the recipient or by any other
person
 (iv) but shall not include any subsidy given by
the Central or State Government

17.  Supplier of Goods, is called seller in general.
 Supplier of Services is called service provider
in general.
 Supplier also includes his agent.

18.  Supplier is important under GST, because this
person collects GST on Goods and Services.
 This is usually a registered person.

19.  Deemed Supply
 Inward Supply
 Outward Supply
 Continuous Supply

20.  Exempted Supply
 Taxable Supply
 Non-taxable Supply
 Principal Supply