DEEMED SALE

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Daya

Daya (Querist)
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24 February 2022 WHAT IS DEEMED SALE UNDER GST,

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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26 February 2022 Following activities are considered as Deemed Supply (i.e. treated as sales for charging GST):–

1. Barter System -Where goods sold or services provided are settled by other goods or services from another person.
2. Permanent transfer or disposal of business assets–If Input Tax Credit has already been used for such business assets and is either disposed of or transferred for personal purposes with or without consideration, it shall be considered to be ‘Deemed Supply’.
3. Supply of goods or services between related persons or distinct persons as defined in section 25— Where the supply is made in the ordinary course of business or for business purposes, it shall be treated as deemed supply.
4. Principal supply of goods to his agent-The agent undertakes supply of such goods without consideration on behalf of the principal shall also be considered to be deemed supply.
5. Agent supplying goods to its Principal-Agent undertakes to receive such goods on behalf of the Principal without consideration, it shall be treated as deemed supply.
6. Taxable person importing services either from a related person or from any of his establishments outside India, for business purposes or in the ordinary course of business.
7. Goods Sent on Return or Approval Basis after specified time. & Goods Not Returned from Job Worker within specified time.
The list is not exhaustive...

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