Supply Includes Without Consideration - Para 3 of Schedule I Read with Section 7(1)(c)

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..... to the CGST Act contain the certain activities or transaction specified in, made or agreed to be made without a consideration, have also been include in the definition of "Supply". As per Para 3 - Transaction between principal and agent [ Para 3 ]  Supply of goods- * by a principal to his agent where the agent undertakes to supply such goods on b .....

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..... rsons whether as an agent or otherwise, are not eligible for the threshold limit of INR  40 Lakh/10 Lakh/ 20 Lakh for registration. Important Notification & Circulars * Clarification regarding scope and ambit of the Principal-agent relationship in the context of Schedule I of the CGST Act. [ Circular No. 57/31/2018-GST dated 01.09.2018 ] * Para 6. Here also, it is wor .....

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..... he CGST Act, a person is liable for mandatory registration if he makes taxable supply of goods or services or both on behalf of other taxable persons. Accordingly, the requirement of compulsory registration for commission agent, under the said clause shall arise when both the following conditions are satisfied, namely: - (a) the principal should be a taxable person; and (b) the supplies mad .....

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..... * Clarification regarding scope of principal and agent relationship under Schedule I of CGST Act, 2017 in the context of del-credere agent ("DCA"). [ Circular No. 73/47/2018-GST dated 05.11.2018 ] * Whether a DCA falls under the ambit of agent under Para 3 of Schedule I of the CGST Act? * Whether the temporary short-term transaction based loan extended by the DCA to the r .....

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..... where the aggregate turnover of supply of exempted as well as taxable goods or services exceeds the threshold limit and that such commission agents shall also be liable for compulsory registration as per provisions of Section 24 (vii) of the Acts ibid and they shall be liable to charge tax on RCM basis on the supply of raw cotton.
Manuals, Ready reckoner, Law and practice, Reference Guide, Quic .....

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