The document discusses the definition of supply under Section 7 of the CGST Act. It provides details on the various types of transactions that are considered a supply, including all forms of sale, transfer, barter, license, rental, lease or disposal of goods and services. It also summarizes the activities listed in Schedules I, II and III of the Act that are treated as supply, with or without consideration. The document further explains concepts of composite supply and mixed supply, and provides examples to distinguish between the two. It clarifies issues related to free samples, buy-one-get-one offers, and principal-agent relationships in the context of what constitutes a supply.
Decoding term 'consideration' in GST Bill 2017Amit Kumar
Analysis of term consideration in GST BILL 2017 and the term consideration define in sec 2(31) of CGST Bill. There is ambiguity in relation to security deposit forfeited for non performance of contract.
Decoding term 'consideration' in GST Bill 2017Amit Kumar
Analysis of term consideration in GST BILL 2017 and the term consideration define in sec 2(31) of CGST Bill. There is ambiguity in relation to security deposit forfeited for non performance of contract.
Analysis of "Supply" in CGST ACT,2017 and taxation of NGO,Government and Clubs.Amit Kumar
Decoding term "supply" define in GST ACT,2017 and other important concept of GST. Whether one person can supply himself. Discuss deemed supply given in schedule I of CGST ACT,2017.Taxation of NGO, Government and club also discussed.
An overview on "Value of Supply" in GST. The presentation covers the provisions related to valuation of supply of goods or services or both made in different circumstances and to different persons.
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aravind.banakar@gmail.com
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Contrato de Servicios en Inglés – Service Provider ContractGlobal Negotiator
El Contrato de Servicios - en Inglés, Service Provider Contract - lo utilizan aquellas empresas o profesionales autónomos para contratar con clientes en el exterior, a los cuales ofrecen una oferta de servicios determinada en cuando a prestación de un determinado servicio.
Contains Sale of Goods Act 1930 as per MBA 2nd SEM(MBAI203: Business Law Syllabus), SVSM, SVVV Indore
Reference : Mercantile Law by M C Kuchhal and Vivek Kuchhal
Video Lectures by CA Poonam Khandewal (Examples)
GST AUDIT and its Impact on Statutory Audit/Tax AuditGST Law India
The following presentation enumerates the Auditor’s Comments on the correctness of Valuations including transaction value, Section 15 provisions, Valuation Rules, Value of supply of services in case of pure agent, Reimbursement of expenses and Margin scheme and other special valuations.
Analysis of "Supply" in CGST ACT,2017 and taxation of NGO,Government and Clubs.Amit Kumar
Decoding term "supply" define in GST ACT,2017 and other important concept of GST. Whether one person can supply himself. Discuss deemed supply given in schedule I of CGST ACT,2017.Taxation of NGO, Government and club also discussed.
An overview on "Value of Supply" in GST. The presentation covers the provisions related to valuation of supply of goods or services or both made in different circumstances and to different persons.
www.mbacasestudyanswers.com
www.casestudysolution.in
aravind.banakar@gmail.com
ARAVIND
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CONTRACTOR AGREEMENT FORMAT
FREE LEGAL AND ACCOUNTANT FORMATS
KANOON KE RAKHWALE INDIA
HIRE LAWYER ONLINE
LAW FIRMS IN DELHI
CA FIRM DELHI
VISIT : https://www.kanoonkerakhwale.com/
VISIT : https://hirelawyeronline.com/
Contrato de Servicios en Inglés – Service Provider ContractGlobal Negotiator
El Contrato de Servicios - en Inglés, Service Provider Contract - lo utilizan aquellas empresas o profesionales autónomos para contratar con clientes en el exterior, a los cuales ofrecen una oferta de servicios determinada en cuando a prestación de un determinado servicio.
Contains Sale of Goods Act 1930 as per MBA 2nd SEM(MBAI203: Business Law Syllabus), SVSM, SVVV Indore
Reference : Mercantile Law by M C Kuchhal and Vivek Kuchhal
Video Lectures by CA Poonam Khandewal (Examples)
GST AUDIT and its Impact on Statutory Audit/Tax AuditGST Law India
The following presentation enumerates the Auditor’s Comments on the correctness of Valuations including transaction value, Section 15 provisions, Valuation Rules, Value of supply of services in case of pure agent, Reimbursement of expenses and Margin scheme and other special valuations.
Indian Sale Of Goods Act, 1930: Definition of Contract, Essentials of contract of Sale, Condition & Warranties, Right & Duties of a Buyer, Rights of Unpaid Seller
Objectives & Agenda :
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July 2017 which was one of the most important reforms in the Indian Economy. Before levying any tax, taxable events needs to be ascertained. Under GST, taxable event arises on "supply of goods or services or both". In this webinar, we shall analyse and understand the provisions related to definition of supply.
Unify interaction & engagement across multiple digital touch points to provide personalised experiences to all stakeholders. Improve employee productivity, Transform your legacy systems & processes, Sell omni-channel , Save expenses on Ads
Everything you need to know about unboxd influencer marketing program unbox...Chinmay Panda
Write about our & our seller partner’s products in your social media profiles and earn commission on each sales happening though your efforts. The commission varies from 40% for softwares , apps to 10–12% for retails, food, consumer durables.
Boost Your Brand Along With Sales- Unboxd Business - BYOQChinmay Panda
We have not spent a single rupee in Ads in our 6 months of marketing journey - What we did for us, We can do for your business/company too.
We rely on Original Content Creation, Social Media Integration, Search Engine Optimisation & Content Amplification, Analytics tools to do the job for us. A very big part of it depends on our network of Associates n Influencers who spread the message organically. When you associate with us, you get the benefit of our whole network of associates, resellers, influencers working for you which will not only boost your sales but also build your brand organically for the long term.
Boost Your Brand Along With Sales - Unboxd BusinessChinmay Panda
We rely on Original Content Creation, Social Media Integration, Search Engine Optimisation & Content Amplification, Analytics tools to do the job for us. A very big part of it depends on our network of Associates n Influencers who spread the message organically. When you associate with us, you get the benefit of our whole network of associates, resellers, influencers working for you which will not only boost your sales but also build your brand organically for the long term.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the what'sapp information for my personal pi vendor.
+12349014282
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just what'sapp this number below. I sold about 3000 pi coins to him and he paid me immediately.
+12349014282
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
BONKMILLON Unleashes Its Bonkers Potential on Solana.pdfcoingabbar
Introducing BONKMILLON - The Most Bonkers Meme Coin Yet
Let's be real for a second – the world of meme coins can feel like a bit of a circus at times. Every other day, there's a new token promising to take you "to the moon" or offering some groundbreaking utility that'll change the game forever. But how many of them actually deliver on that hype?
Yes of course, you can easily start mining pi network coin today and sell to legit pi vendors in the United States.
Here the what'sapp contact of my personal vendor.
+12349014282
#pi network #pi coins #legit #passive income
#US
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
This presentation poster infographic delves into the multifaceted impacts of globalization through the lens of Nike, a prominent global brand. It explores how globalization has reshaped Nike's supply chain, marketing strategies, and cultural influence worldwide, examining both the benefits and challenges associated with its global expansion.
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Nike Shops Worldwide
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Nike Product Development
Nike Marketing Strategies
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Nike Consumer Direct Acceleration
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2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
1. Supply – Sec 7 of CGST ActDAY 2CH.SUDHEER C.A, C.M.A
2.1Queries contact: vjabranchofsircoficai@gmail.com
Chapter 2
SUPPLY – SEC 7 OF CGST ACT
ExcludesSupply include Govt by notification specify
transactions to be treated as
All forms of
sale, transfer
barter,
exchange
licence, rental
lease or
disposal
Made or
agreed to be
made
For
consideration
In the course
of business
or
furtherance
of business
Importation
of service
For
consideration
Activities
specified
in
schedule- I
Whether or not
In the course of
business or
furtherance of
business
Without
consideration
Activities to
be treated as
supply of
goods or
services as
referred to in
Schedule- II
Refer page
2.3
Activities or
transactions
undertaken
by CG/SG/LA
as may be
notified by
Govt
Supply of
goods & not
as a supply of
service
Supply of
service not
as a supply
of goods
Made or
agreed to
be made
Activities or
transactions
specified in
Schedule – III
Refer page
2.4
2. Supply – Sec 7 of CGST ActDAY 2CH.SUDHEER C.A, C.M.A
2.2Queries contact: vjabranchofsircoficai@gmail.com
Chapter 2
Schedule-I (without Consideration)
Permanent
transfer/
disposal of
business assets
Eg:
Transfer of assets
by H.Co to S.Co
Donate old
laptop to Schools
A cloth retailer
giving clothes
free to his friend
This provision will
apply only when ITC
has been availed by
Transferor
Supply b/w
distinct
persons
A person having
reg.est in one
state and
another reg.est
in other state
shall be distinct
persons
Stock transfers by
one unit to other
unit of other state
is a supply
Supply of
goods or
services by
employer to
employee
Outside the
course of
employment
Gifts not exceeding
50,000 in year are not
a supply
Employer gives dussera
gift of 55,000 - treated as
supply for levy of GST
Principal &
Agent
Any goods
supplied to
agent shall be
regarded as
supply
Supply
between
related
persons
Shall be
regarded as
supply
Import of
service
Only if made in the course
of Business
In these cases, even though consideration is not charged, it shall be regarded as supply
Refer page
2.10 (CASE 7)
3. Supply – Sec 7 of CGST ActDAY 2CH.SUDHEER C.A, C.M.A
2.3Queries contact: vjabranchofsircoficai@gmail.com
Chapter 2
Transfer Land or Building Transfer of Business Assets
Supply of supply of Supply of service Supply of goods Supply of Service
goods service
Lease, tenancy,
easement, licence Goods forming part When the business is Goods held for
-Title in goods Right in goods without to occupy land of business assets ceased, then stock left business but put to
-Tiltle in goods under transfer of goods are disposed whether shall be deemed to be private use with or
agreement at future date or not for consideration supplied and liable to GST without consideration
Exception
Business transferred as Going concern A director using car
provided by co. for
personal travels
Treatment or process Certain specified service Composite supplies Supply of service by unincorporated
AOP/ BOI to its members for cash or
Supply of service 1.Renting of Immovable properties Supply of services deferred payment
2. Construction of civil structure, complex etc..,
Treatment of process 3.Temporary transfer or permitting use of IPR
applied to other person's 4.Development, design, upgradation etc., of IT s/w 1. Works contract services 1. Club membership fees-service
goods 5.Agreeing to obligation to refrain from an act or 2. Supply being food or drink 2. A local club supplies snacks
tolerance of an act or situation or to do an act or any article for human during monthly meeting for
Eg:- 6. Transfer of right to use any goods for any purpose consumption nominal payment.-service
Jobwork performed by
jobworker on goods
supplied by Principal Treated as supply of services
Manufacturer
Schedule – II: Activities to be treated as Supply of Goods or Services
4. Supply – Sec 7 of CGST ActDAY 2CH.SUDHEER C.A, C.M.A
2.4Queries contact: vjabranchofsircoficai@gmail.com
Services by
Schedule – III: NEGATIVE LIST OF UNDER SERVICES
Services by
Employee to
employer in
the course of
employment
(i.e salary)
Services by
District
courts
Functions performed by
M.P’s, M.L.A & other
constitutional Duties
Services of
a) Funeral
b) Burial
c) Crematorium
d) Mortuary
e) Transportation
of deceased
a) Sale of land
b) Sale of Building
Where entire
consideration is received
after completion
certificate
However works contract
would come under GST
Actionable
claims
Supply of goods from outside
India to Outside India without
such goods entering into India
Supply of warehoused goods to
any person before clearance for
home consumption
Supply of goods by the consignee to any other
person by endorsement of documents of title to
the goods after the goods have been dispatched
from the port of origin located outside India but
before clearance for Home Consumption (i.e.,
High sea sales)
In case payment to directors
TDS u/s 192
No GST
TDS u/s 194J
GST chargeable (but under RCM)
NEGATIVE LIST OF UNDER GOODS
5. Supply – Sec 7 of CGST ActDAY 2CH.SUDHEER C.A, C.M.A
2.5Queries contact: vjabranchofsircoficai@gmail.com
COMPOSITE AND MIXED SUPPLIES (SECTION 8)
Composite Supply Mixed Supply
Naturally bundled in the ordinary course of business Artificially bundled and not in the ordinary course of Business
Comprising two or more supplies one of which is principal
supply
Comprising of two or more supplies
Shall be treated as supply of that particular principal supply Treated as supply of such supply that attracts highest rate of tax
S Ltd. Manufacturers entered into a contract with XYZ Ltd. for supply
of readymade shirts packed in designer boxes at XYZ Ltd.’s outlet.
Further, S Ltd Manufacturers would also get them insured during
transit. So, supply of goods, packing materials, transport & insurance is
a composite supply wherein supply of goods is principal supply
When a consumer buys a television set and he also gets warranty and
a maintenance contract with the TV, this supply is a composite supply.
In this example, supply of TV is the principal supply, warranty and
maintenance services are ancillary
Example
Supply of package consisting of food, sweets, chocolates,
cakes, dry fruits for a single price is mixed supply. Each
of these items can be supplied independently. Hence it is a
mixed supply.
A shopkeeper selling storage water bottles along with
refrigerator. It is a mixed supply
Example
6. Supply – Sec 7 of CGST ActDAY 2CH.SUDHEER C.A, C.M.A
2.7Queries contact: vjabranchofsircoficai@gmail.com
Free samples and gifts If ITC is taken- then distribution of Free samples and gifts should be
treated as supply as per Sch-I
If ITC is not taken- transaction made without consideration shall not be
regarded as supply
Buy one get one free offer For example, buy one soap and get one soap free or
Get one tooth brush free along with the purchase of tooth paste.
In fact, it is not an individual supply of free goods but a case of
two or more individual supplies where a single price is being
charged for the entire supply. It can at best be treated as
supplying two goods for the price of one
It is also clarified that ITC shall be available to the supplier
Clarification (C.No.92/11/2019 dt.07/03/2019)
7. Supply – Sec 7 of CGST ActDAY 2CH.SUDHEER C.A, C.M.A
2.8Queries contact: vjabranchofsircoficai@gmail.com
Principal & Agent- Deemed supply & Mandatory Registration-
Clarification (Circular No. 57/31/2018-GST)
Mr. A appoints Mr. B to procure certain goods from the market. Mr. B identifies various suppliers
who can provide the goods as desired by Mr. A, and asks the supplier (Mr. C) to send the goods
and issue the invoice directly to Mr. A. In this scenario, Mr. B is only acting as the procurement
agent, and has in no way involved himself in the supply or receipt of the goods. Hence, in
accordance with the provisions of this Act, Mr. B is not an agent of Mr. A for supply of goods in
terms of Schedule I.
Scenario 1
M/s XYZ, a banking company, appoints Mr. B (auctioneer) to auction certain goods. The auctioneer
arranges for the auction and identifies the potential bidders. The highest bid is accepted and the
goods are sold to the highest bidder by M/s XYZ. The invoice for the supply of the goods is issued
by M/s XYZ to the successful bidder. In this scenario, the auctioneer is merely providing the
auctioneering services with no role played in the supply of the goods. Even in this scenario, Mr. B
is not an agent of M/s XYZ for the supply of goods in terms of Schedule I.
Scenario 2
Mr. A, an artist, appoints M/s B (auctioneer) to auction his painting. M/s B arranges for the
auction and identifies the potential bidders. The highest bid is accepted and the painting is sold to
the highest bidder. The invoice for the supply of the painting is issued by M/s B on the behalf of
Mr. A but in his own name and the painting is delivered to the successful bidder. In this scenario,
M/s B is not merely providing auctioneering services, but is also supplying the painting on behalf
of Mr. A to the bidder, and has the authority to transfer the title of the painting on behalf of Mr. A.
This scenario is covered under Schedule. A similar situation can exist in case of supply of goods as
well where the C&F agent or commission agent takes possession of the goods from the principal
and issues the invoice in his own name. In such cases, the C&F/commission agent is an agent of
the principal for the supply of goods in terms of Schedule I. The disclosure or non-disclosure of the
name of the principal is immaterial in such situations.
Scenario 3
Note: In scenario 1 and scenario 2, Mr. B shall not be liable to obtain registration in
terms of clause (vii) of section 24 of the CGST Act. He , however, would be liable for
registration if his aggregate turnover of supply of taxable services exceeds the threshold
specified in sub-section (1) of section 22 of the CGST Act. In scenario 3, M/s B shall be liable
for compulsory registration in terms of the clause (vii) of section 24 of the CGST Act