Supply of goods & services is the taxable event in GST. Supply requires consideration. However, in some cases specified supply without consideration will be subject to GST. Supply covers supply MADE or AGREED to be made in the course of furtherance of business. Covers Advanced Receipt also. PLACE OF SUPPLY OF...
May 18, 2017
May 18, 2017
02
A Customer who buys goods from a taxable person who is under composition scheme – IS NOT ELIGIBLE FOR ITC. • Interstate self supplies such as stock transfer will be TAXABLE. However, Intra state self supplies are NOT TAXABLE. • Business Assets put to a private or no – business use without consideration WILL BE...