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stock transfer under gst
please interpret clause 1 (b) of schedule 2. whether it is saying that stock transfer will be treated as supply of services. and if so then how a person making branch transfer of stock will get itc of that gst? bcz it will be on same pan and in actual no person can make payment of gst to himself.
Replies (3)
As per the FAQs issued by CBEC,
Considering Question no.7 & 8 is respodning your query, 1) Interstate self transfer will be treated taxable supply and liable for IGST. 2) Intrastate self supply is not taxable supply, You are absolutely right that without trnasferring the titile of goods will be trated as supply of service.
Here Govt intention to levy GST is to maimtin trail of all taxable supplies.
Ok sir. .sir tell me one thing more how a person will issue invoice to himself? nd how he will pay gst and take credit of that?
Gupta ji,
In case of self GST registration in variuos states is to be treated a distinct person and different GST no. shall be issued.
So there would not be any issue to pay IGST or distribute GST by ISD as well
Thanks.
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