Composite Supply
A supply of two or more goods or services naturally bundled and supplied together in the ordinary course of business, taxed at the rate applicable to the principal supply.
Related terms
- Compensating Control
A control that reduces the risk of an existing control weakness to an acceptable level, without eliminating the weakness itself.
- Componentization
Depreciating significant parts of an asset separately when they have different useful lives — required under Schedule II of the Companies Act for assets with materially different component lives.
- Composition Scheme
A simplified GST scheme for small taxpayers below a specified turnover threshold, paying tax at a fixed, lower rate on turnover and generally unable to claim input tax credit.
- Computer-Assisted Audit Techniques (CAAT)
Software-based techniques used to extract, analyse and test data directly from a client's systems, rather than relying solely on manual inspection.
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