Certain Activity or Transaction whether it is Supply of Goods or Services- Para 4 Schedule II Read with Section 7(1A)

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..... 7(1), they shall be treated either as supply of goods or supply of services as referred to in Schedule II . [Note:- Before amendment it was clause (d) of section 7(1)(d) ] Read along with the definition of Goods services, Schedule II provide clarification regarding Which is the goods or services for taxability of GST Certain activity or transaction defined in Schedule II whether it is Supply of G .....

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..... n in the course of furtherance of business of his and would be covered in this clause. Like Banking company selling the goods /assets of the company to recover the debts from the taxable person Liquidator appointed either by the creditors or by the shareholder and selling the goods /business assets, to pay the debts of the company. (ii) Transfer of usage of Business assets - Supply of service This .....

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..... ing generator. its owner took a set of generators his house temporarily for 2 months. The personal use of the generator by the owner, is deemed as a supply of services by the company to him (iii) Goods forming part of assets of any business, carried on by a person, where the person ceases to be taxable person - Supply of goods Where any person ceases to be a taxable person, any goods forming part .....

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