INDIA CODE

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Act / Act 12 of 2017

Schedule I: Activities to be treated as supply even if made without consideration

In forceA commencement is recorded; no ending event is recorded.
The law's words

I. Activities to be treated as supply even if made without consideration.—SCHEDULE I.

SCHEDULE I.

[ See section 7 ]

ACTIVITIES TO BE TREATED AS SUPPLY EVEN IF MADE WITHOUT CONSIDERATION

(1) Permanent transfer or disposal of business assets where 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, when made in the course or furtherance of business:

Provided that gifts not exceeding fifty thousand rupees in value in a financial year by an employer to an employee shall not be treated as supply of goods or services or both.

(3) Supply of goods-

(a) by a principal to his agent where the agent undertakes to supply such goods on behalf of the principal; or

(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.

Apparatus, composed by the register from the amendment record
1.Subs. by The Central Goods and Services Tax (Amendment) Act, 2018 (31 of 2018), s. 30, for taxable person (w.e.f. 1-2-2019).
Marked words, composed by the register from the amendment record
1.
Words introduced
person
Words replaced
taxable person
Amending instrument
The Central Goods and Services Tax (Amendment) Act, 2018 (31 of 2018) / no page for this instrument is held / s. 30
Effective from
1 February 2019
Commencement reference
No commencement reference is recorded for this operation.
Marking
The words this operation introduced stand 4 times in the text above, and the register does not record which of them this operation produced, so no run is marked for it.
Register reproduction note

The text above is a reproduction prepared for this register, not the certified Gazette wording. The Gazette in which the instrument was published remains the authentic record.

Connections

References marked in the words above

  • section 7 / Section 7, Central Goods and Services Tax Act, 2017
  • section 7 / Section 7, Central Goods and Services Tax Act, 2017 / these words are already marked for another citation recorded against this provision
  • section 25 / Section 25, Central Goods and Services Tax Act, 2017
  • section 25 / Section 25, Central Goods and Services Tax Act, 2017 / these words are already marked for another citation recorded against this provision