Import of services from o/s india for consideration in the course or furtherance of business is supply under #7(1)(a) or #7(1)(b) ?
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Quick Summary
This discussion clarifies whether importing services from overseas for business purposes constitutes a supply under the CGST Act. It highlights that according to Section 7(1)(b) of the CGST Act 2017, the import of services for a consideration is considered a supply, regardless of whether it's in the course or furtherance of business. The crucial factor for determining this is the existence of consideration.
As per the Provision of Section 7(1) clause (b) of the CGST Act 2017, "Import of Services for a consideration, whether or not in the course or furtherance of business" is treated as SUPPLY.
So the main parameter to consider Import of Services as SUPPLY U/s 7(1) clause (b) is the existence of "CONSIDERATION."
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