9911796707
TMI BlogExamples of No SupplyX X X X Extracts X X X X X X X X Extracts X X X X ..... Examples of No Supply X X X X Extracts X X X X X X X X Extracts X X X X ..... d & Buildings Gist from Mother Reply By Rajagopalan Ranganathan: The Reply: Sir, According to Section 7 of CGST Act, 2017 "supply" includes - (a) all forms of supply of goods or services or both such as sale, transfer, barter, exchange, licence, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business; (b) import of services ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for a consideration whether or not in the course or furtherance of business; [and] (c) the activities specified in Schedule I, made or agreed to be made without a consideration; Securities (Shares) are neither goods or service their sale will not attract gst. According to sl. No. 2 of Schedule II of CGST Act, 2017- (a) any lease, tenancy, easement, licence to occupy land is a supply of se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rvices; (b) any lease or letting out of the building including a commercial, industrial or residential complex for business or commerce, either wholly or partly, is a supply of service. Sale of land and building is neither supply of goods nor supply of service subject to para 5 (b) of Schedule II of CGST Act, 2017. Agriculture produce is exempt from gst vide Notification No. 2/2017-Central ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tax (Rate) dated 28.6.2017 as amended. Other items mentioned by you are not liable to gst.
Reply By Atul Rathod:
The Reply:
Non gst -1,2,3,4,7
exempted:-5,6
Reply By KASTURI SETHI:
The Reply:
Maturity Proceeds of LIC Policy are in the course of business or furtherance of business. Hence no supply. X X X X Extracts X X X X X X X X Extracts X X X X
|
