Introduction:
The GST Act came in force from 1st July, 2017. There were many interpretation issues with respect to the definitions, glossary and terms use in the law. Since, such definitions were adopted from various legacy laws in India prior to GST; such as Service Tax, State VAT, Central Excise Act, Luxury Tax, Entertainment Tax, etc. it was difficult to make applicable one definition for different sectors. Hence, some modifications from existing definitions were made. Therefore, it was important to established a nexus of the terms used in the GST definitions. The definition discussed here is”Continuous Supply of Goods”.
So what do you mean by”Continuous Supply of Goods”?
“Continuous Supply of Goods” means a supply of goods which is provided, or agreed to be provided, continuously or on recurrent basis, under a contract, whether or not by means of a wire, cable, pipeline or other conduit, and for which the supplier invoices the recipient on a regular or periodic basis and includes supply of such goods as the Government may, subject to such conditions, as it may, by notification, specify;
Conclusion:
Continuous Supply of Goods means goods and supply on regularly but invoice raised periodically irrespective of payment tax collect periodically bases.For,Eg saling on newspaper daily in such case newspaper distributor give us bill on 1st of every month but supply made by him daily bases.