Can someone suggest me that following case will fall under ambit of supply u/s 7 or not?
Q. temporary transfer to any other person of any business asset of whom ITC was not availed.
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temporary transfer w/o itc
Replies (3)
Temporary transfer means u r going to take back that asset
yes, temporary transfer means supply of service but the thing I'm confused on ITC. Will it be called as supply if ITC on that Business Asset was not availed?
Temporary transfer of IPR is a supply of service
Other business assets if transferred as a lease transaction, then supply.
If only sent on returnable basis, then not a supply.
Other business assets if transferred as a lease transaction, then supply.
If only sent on returnable basis, then not a supply.
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