Question 11 - A dealer of air-conditioners transfers an air conditioner from his stock in trade, for personal use at his residence. Will the transaction constitute a supply?
FAQ on GST dated 21.9.2016 based on Draft Model GST Chapter 4 Meaning and Scope of Supply
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Business asset conversion: goods transferred from stock to private or non-business use without consideration are treated as supply. A dealer's removal of an air conditioner from stock in trade for private residential use is treated as a supply because business assets put to private or ... Summary
Business asset conversion: goods transferred from stock to private or non-business use without consideration are treated as supply.
A dealer's removal of an air conditioner from stock in trade for private residential use is treated as a supply because business assets put to private or non business use without consideration are deemed to be supplies.
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