Скачать или смотреть Activities to be treated as supply even if made without consideration (Deemed Supply) Schedule – I

Schedule – I –Activities to be treated as supply even if made without consideration [Section 7(1)(c)]
(1) Permanent Transfer/Disposal of Business Assets where input tax credit has been availed on such assets – Any kind of disposal or transfer of business assets made by an entity on permanent basis even though without consideration qualifies as supply. However, it is important to note that this provision would apply only if input tax credit has been availed on such assets.
(2) Supply of goods or services or both between ‘related persons’ or between ‘distinct persons’ as specified in section 25, will qualify as supply even if made without consideration provided it is made in the course or furtherance of business.
(3) Supply of goods by a principal to his agent, without consideration, where the agent undertakes to supply such goods on behalf of the principal is considered as supply.
(4) Import of service by a person from a related person or from his establishments located outside India, without consideration, in the course or furtherance of business shall be treated as supply.