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Inter State Stock Transfer

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Student
252 Points Posted on 10 September 2019
In proprietary business, have 2 GST numbers one in TS and another in AP stock transfer from TS to AP, is it liable to Sale in GST?
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On 10 September 2019 at 15:17 Report
Replies (4)
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SEO Sai Gr. Hosp.
211624 Points Posted on 10 September 2019

Yes, where as ITC can be claimed for the IGST paid.

581 Reply
On 10 September 2019 at 19:18
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Student
23688 Points Posted on 10 September 2019
Yes...

The said transaction attracts GST by virtue of Para 2 of SCHEDULE I of the CGST Act 2017. You have to charge IGST and then claim ITC.
97 Reply
On 10 September 2019 at 19:55
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294 Points Posted on 10 September 2019
As per section 7(1) of CGST Act any barter, exchange, transfer is supply of goods and services
1 Reply
On 10 September 2019 at 21:29
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GST Practitioner
55067 Points Posted on 10 September 2019
In term of Section 25 both are the distinct person & as per schedule 1, the transfer between distinct person is supply even without consideration.
Hence its supply & GST Attracts
301 Reply
On 10 September 2019 at 23:02


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