Counsel
Ask an expert!
Legal, accounting and compliance advice from qualified professionals.
The activities enumerated in Schedule I qualify as supply even if made without consideration. Therefore, such supplies, even in the absence of consideration, are liable to be taxed under the GST regime. Following are the activities which qualify as supply in the absence of consideration:
- Permanent transfer or disposal of business assets...
Wazzeer Professional Network
ProfessionalDoes supply of goods without any charge attract GST?
-
Wazzeer Professional Network
ProfessionalThe activities enumerated in Schedule I qualify as supply even if made without consideration. Therefore, such supplies, even in the absence of consideration, are liable to be taxed under the GST regime. Following are the activities which qualify as supply in the absence of consideration:
- Permanent transfer or disposal of business assets where input tax credit has been availed on such assets.
- Supply of goods or services or both between related persons or between distinct persons as specified in section 25, when made in the course or furtherance of business: Provided that gifts not exceeding fifty thousand rupees in value in a financial year by an employer to an employee shall not be treated as supply of goods or services or both.
- Supply of goods—
- By a principal to his agent where the agent undertakes to supply such goods on behalf of the principal; or
- By an agent to his principal where the agent undertakes to receive such goods on behalf of the principal.
Import of services by a taxable person from a related person or from any of his other establishments outside India, in the course or furtherance of business.
over 4 years ago
View answer
Does supply of goods without any charge attract GST?
-
Wazzeer Professional Network
ProfessionalThe activities enumerated in Schedule I qualify as supply even if made without consideration. Therefore, such supplies, even in the absence of consideration, are liable to be taxed under the GST regime. Following are the activities which qualify as supply in the absence of consideration:
- Permanent transfer or disposal of business assets where input tax credit has been availed on such assets.
- Supply of goods or services or both between related persons or between distinct persons as specified in section 25, when made in the course or furtherance of business: Provided that gifts not exceeding fifty thousand rupees in value in a financial year by an employer to an employee shall not be treated as supply of goods or services or both.
- Supply of goods—
- By a principal to his agent where the agent undertakes to supply such goods on behalf of the principal; or
- By an agent to his principal where the agent undertakes to receive such goods on behalf of the principal.
Import of services by a taxable person from a related person or from any of his other establishments outside India, in the course or furtherance of business.
over 4 years ago
Looking to hire a professional from our handpicked community?
Explore our services, submit your request and let us do the rest for you.