9911796707
TMI BlogActivities or TransactionsX X X X Extracts X X X X X X X X Extracts X X X X ..... What is the meaning of ACTIVITY and TRANSACTION as used in CGST Act Sec 7 Sec 7(1)(aa) talks about Activities or Transactions Sec 7(1)(c) Talks about Activities specified in Schedule I . Sec 7(I)(A) again talks about Activities or Transactions and has a cross references to Schedule II . Interestingly Schedule II initially had a heading Activities to be treated as supply of goods or supply of servi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ces. But later Goods and Services Tax amendment Act 2018 retrospectively amended this w.e.f 1.07.2017 and included the word OR TRANSACTIONS. Sec 7(2)(a) again talks about activities or transactions specified in Schedule III . Sec 7 (3) gives power to central Government to specify certain ACTIVITIES only either as a supply of goods or as a supply of services. Understanding this is a must because a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... word AND and another word OR used in law made a lot of difference as we learned in Safary Retreats. - Reply By Shilpi Jain - The Reply = Finally in these kind of situations, even if these kind of references make a difference and the taxpayer is able to get a favaourable order from the SC, there will be an amendment in the law retrospectively to bring out what the CBIC thinks is the legislative int ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent of the legislature!! - Activities or Transactions - Query Started By: - VENU K Dated:- 14-1-2025 Last Replied Date:- 15-1-2025 Goods and Services Tax - GST - Got 1 Reply - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
