Q 97. What are the necessary elements that constitute supply under MGL?

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Ans. In order to constitute a ‘supply’, the following elements are required to be satisfied, i.e.- (i)   supply of goods and / or services; (ii)  supply is for a consideration; (iii) supply is made in the course or furtherance of business; (iv) supply is made in the taxable territory; (v)  supply is a taxable supply;…

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