Analysis of Case Study : Yash Building Material vs. State of Uttar Pradesh Facts of the Case: Notice Received: Yash Building Material (referred to as “the Petitioner”) received a notice on June 4, 2021, under Section 74(5) of the CGST Act, stating tax was payable. Legal Requirement: As per Section …
Analysis of Case Study : Manjunatha Oil Mill v. Assistant Commissioner (ST) [W.P. No. 2153 of 2024 dated February 2, 2024] Let’s break down the case of Manjunatha Oil Mill vs. Assistant Commissioner (ST) [W.P. No. 2153 of 2024 dated February 2, 2024] and the relevant provisions under the CGST …
SCHEDULE III [SEE SECTION 7] ACTIVITIES OR TRANSACTIONS WHICH SHALL BE TREATED NEITHER AS A SUPPLY OF GOODS NOR A SUPPLY OF SERVICES 1. Services by an employee to the employer in the course of or in relation to his IMPORTANT: Gift to employees upto 50,000 is exempt (Reversal of …
SCHEDULE II [SEE SECTION 7] ACTIVITIES [OR TRANSACTIONS]1 TO BE TREATED AS SUPPLY OF GOODS OR SUPPLY OF SERVICES 1. Transfer any transfer of the title in goods is a supply of goods; any transfer of right in goods or of undivided share in goods without the transfer of title …
SCHEDULE I ACTIVITIES TO BE TREATED AS SUPPLY EVEN IF MADE WITHOUT CONSIDERATION Permanent transfer or disposal of business assets where input tax credit has been availed on such IMPORTANT: Transfer of entire business as a going concern cannot be subject to Transfer of business asset as whole an independent …
Section 7(1): For the purposes of this Act, the expression “supply” includes–– All forms of supply of goods or services or both such as sale, transfer, barter, exchange, license, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance …
