Schedule I Assam GST Act 2017
( Schedule I Assam GST Act 2017 Explains Activities To Be Treated As Supply Even If Made Without Consideration )
SCHEDULE I
[Section 7]
ACTIVITIES TO BE TREATED AS SUPPLY EVEN IF MADE WITHOUT CONSIDERATION
| 1. |
|
Permanent transfer or disposal of business assets where input tax credit has been availed on such assets. |
| 2. |
|
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. |
| 3. |
|
Supply of goods— |
| (a) |
|
by a principal to his agent where the agent undertakes to supply such goods on behalf of the principal; or |
| (b) |
|
by an agent to his principal where the agent undertakes to receive such goods on behalf of the principal. |
| 4. |
|
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. |
Related Topic on GST
