GST Schedule 1 outlines specific activities that are considered a supply for Goods and Services Tax purposes, even when no payment or consideration is involved. This typically applies to transactions between related parties or distinct persons. The discussion also briefly touches upon Schedule 2 (supply of goods vs. services) and Schedule 3 (neither supply of goods nor services) for context.
There are three schedules in gst schedule 1 is activities to be treated as supply even done without considering 2. activities or transaction to be treated as supply of goods or supply of services 3. activities not to be considered as supply
Schedule I , talks about the activities treated as supply even if it's made without consideration. It's basically supply between related or distinct person.
Schedule II talks about the whether the particular transaction is supply of services or supply of goods. But transaction shall be taxed only when they constitute 'supply' in accordance with provision of Section 7(1)(a),(b) & (c) of CGST Act.
Schedule III : Transactions which are neither supply of services nor supply of Goods .