SUPPLY (SEC 7) & (SEC 8) Flashcards
Which includes in supply u/s 7(1)(a)
STD BELL R
Ram, a proprietor received architectural services which are not in the course of business. What type of supply it is?
import of services with consideration u/s 7(1)(b)
Items included in SEC 7(1)(c) [Schedule 1]
RBI PA
A cloth saler donates clothes from the business. Is it a supply?
yes if he had claimed ITC on his purchase u/s Schedule 1
Mohan has a registered office in Delhi. he also obtained registration in west bengal for his branch office. he shall be treated as?
He is a distinct person u/s 25 any services from Mohan shall be treated as SUPPLY u/s 7(1)(c)
employer transferring goods to the employee in the course of business or not. is it a supply?
not a supply u/s Schedule 3( negative list)
is ITC allowed in Zero-rated Supply?
Yes ITC is allowed but GST @ 0%
is ITC allowed in exempt supply?
no ITC benefit
Supply of goods between principal and agent without consideration is a supply. True or False?
True the agent undertake to receive goods on behalf of the principal
The principal sent invoiced goods to an agent the agent further sold the goods in his name to the customer. state the flow of supply.
supply of good s 1> principal to Agent
2> Agent to customer
If invoice was in the name of the principal then the supply of goods
principal > customer
Any transfer of the title of goods is a supply of goods or services?
supply of goods u/s 7(1A)
Any transfer of right in goods or undivided share in goods
supply of services u/s 7(1A)
Any deferred transfer i.e. hire purchase
supply of goods u/s 7(1A)
Any lease, tenancy, license to occupy, or letting out for commercial or residential purposes of Land & Building?
Supply of services u/s 7(1A)
Any treatment or process of goods i.e. laundry, car wash
Supply of services u/s 7(1A)
Any transfer or disposal of business assets with or without consideration. Is it a supply?
Supply of goods u/s 7(1A)
Any private use of a business assets, eg director using the company’s car
Supply of services u/s 7(1A)
A person who ceases to be a taxable person sells any stocks or asset
Suplly of goods u/s 7(1A)
Any renting of immovable property
Supply of services u/s 7(1A)
Construction of civil structure of a building BEFORE completion certificate given by the municipality
Supply of services u/s 7(1A)
Construction of civil structure of a building AFTER completion certificate given by the municipality
Negative List of supply u/s 7(2)
temporary transfer of intellectual property rights (IRR) i.e. goodwill
Supply of services u/s 7(1A)
Agreeing to the obligation to refrain from an act or tolerate i.e. penalty for early termination of agreement
supply of services u/s 7(1A)
Developing design, programming, or implementation of software
supply of services u/s 7(1A)
Services provided by court or tribunal
negative list u/s 7(2)
services provided by MLA MP PM CM UPSC SSC IRDA PRESIDENT etc
negative list u/s 7(2)
Services of funeral, mortuary, etc
negative list u/s 7(2 )
sale of land and building
negative list u/s 7(2)
actionable claims other than betting or lottery
negativelist u/s 7(2)
A person registered in India procuring goods from China and sending the goods directly from China to the UK. Is he taxable under GST?
Negative list u/s 7(2) as a transfer from a non-taxable area to another non-taxable area
Transfer of goods within warehouses of the customs ports
negative list u/s 7(2)
Grant of alcoholic liquor license given by the government to any person
neither a supply of goods nor services u/s 7(3)
Goods sent to exhibitions outside India
neither a supply of goods nor services u/s 7(3)
donations which are given out in nature of gift not for commercial purposes
neither a supply of goods nor services u/s 7(3)
free samples and gifts are given out for which ITC is not claimed
not a supply u/s 7(3)
buy one get one offer for which ITC has not been claimed
not asupply u/s 7(3)
Two or more taxable supplies in conjunction and in continuation which are naturally bundled are known as _
composite supply
two or more taxable supply which is not naturally bundled and is available separately in the market is known as _
mixed supply
in case of mixed supply which GST rate is taken into consideration
the highest GST rate
Cadbury celebration is an example of composite or mixed supply
Mixed supply
booking of air tickets involves the cost of food which is an example of _ supply
Composite supply
import of services without consideration for personal use. Is it a supply?
not a supply as consideration is missing
Goods forming part of business assets are transferred by the business so as no longer to form part of those assets, without any consideration.
supply of goods u/s SCHEDULE 2
A LTD. has a factory in Delhi and a depot in Mumbai. both these establishments are registered in their respective states. finished goods are sent from Delhi to Mumbai without consideration. is it a supply?
Yes as two establishments are treated as distinct persons and the gods are sent for the furtherance of business thus supply
Mr. V transfers 1000 debentures of A LTD to Mr. D for consideration of 45000. is GST applicable
Debentures are securities, thus neither a supply of goods or services. Therefore GST is not applicable.
A Cloth dealer gives clothes from his business stock to his friend without any consideration. is it a supply?
if the dealer had claimed ITC then such transfer is a supply and GST is applicable.
Mr. V is a flower dealer. he sells roses for decoration purposes for 100000 to an interior decorator. State its applicability in GST.
Flowers are goods but a supply of natural items is nil rated. Thus GST liability is nil.
