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Transfer of Machinery for Works Contract
Assessee has Registration under 2 different states. For construction of Immovable property he has to transfer Fixed assets from 1 state to another. In this case how assets are to be transferred by challan or basis of sales invoice.
Replies (3)
there does not seem to be any consideration between both the business entities and therefore, the transaction is not supply in terms of section 7 of CGST Act. The goods should be supplied under cover of challan.
but as per schedule 1 if any transfer of assets between related or distinct person even without consideration is treated as supply.......
you are right Mr.Jain. I had missed this point.
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