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Inter State Stock Transfer
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?
Replies (4)
Yes, where as ITC can be claimed for the IGST paid.
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.
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.
As per section 7(1) of CGST Act any barter, exchange, transfer is supply of goods and services
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
Hence its supply & GST Attracts
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