supply
MD zakarullah khan (zakir) (32 Points)
29 June 2018
Motor car given to director by company. Whether it is supply or not?
6 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14880 Points)
Replied 29 June 2018
As per shedule I section 2 of the CGST act 2017 , Supply of goods between related persons without consideration made in the course of furhterance of Busniess will be treated as supply .
So Motor Car given to Director will be supply .please confirm with others also .
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 29 June 2018
Yes , it will treated as as supply if Motor Car is transfer in name of Director, As per section 7 CGST Act
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 29 June 2018
Yes , it will treated as as supply if Motor Car is transfer in name of Director, As per section 7 CGST Act
prasad Nilugal
( GST Practitioner & Accounts )
(14880 Points)
Replied 29 June 2018
Mr Rawat section 7 (a) of the CGST act is for transfer made for consideration in the course of further of Busniess , However in above query Motor car given to Director may be without consideration ,so here Schedule I(2) will be applicbale because transaction is without consideration .
Shivam RC
(Student)
(23683 Points)
Replied 30 June 2018
Agree with Prasad Nilugal Sir..
Motor Car given by Company to its Direstor will be treated as Supply of Goods even if no consideration is there as per SCHEDULE I.
It is clearly stated that where the empl
Motor Car given by Company to its Direstor will be treated as Supply of Goods even if no consideration is there as per SCHEDULE I.
It is clearly stated that where the empl
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 01 July 2018
Mr Prasad & Mr. Shivam , below is extract from section 7 CGST Act
c] the activities specified in SCHEDULE I, made or agreed to be made without a consideration;
So Kindly refer the Section 7 CGST again .
c] the activities specified in SCHEDULE I, made or agreed to be made without a consideration;
So Kindly refer the Section 7 CGST again .
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