SCHEDULE I ACTIVITIES TO BE TREATED AS SUPPLY EVEN IF MADE WITHOUT CONSIDERATION (Deemed Supply)
1. Permanent transfer or disposal of business assets where input tax credit has been availed on such assets.
2. Supply of goods/services between
• related persons or
• between distinct persons as per section 25 when made in the course or furtherance of business
3. Supply of goods
(a) by a principal to his agent where the agent undertakes to supply such goods on behalf of the principal
(b) by an agent to his principal where the agent undertakes to receive such goods on behalf of the principal
4. Import of services by a person from a related person or from any of his other establishments outside India, in the course or furtherance of business
TAXABILITY OF IMPORT OF SERVICES
DEL-CREDERE AGENT (DCA)
In commercial trade parlance, a DCA is a selling agent who is engaged by a principal to assist in supply of goods or services by contacting potential buyers on behalf of the principal. The factor that differentiates a DCA from other agents is that the DCA guarantees the payment to the supplier.
SALES PROMOTION SCHEMES UNDER GST
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What is supply under GST, meaning of supply, supply meaning in GST, taxability of GST, Schedule 1 of GST, Deemed Supply
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