Question 11 - A dealer of air-conditioners permanently transfers an air conditioner from his stock in trade, for personal use at his residence. Will the transaction constitute a supply?
Faq On GST (2nd Edition) Dated 31.3.2017 Chapter 4 Meaning and Scope of Supply
📋
Contents
Cases Cited
Referred In
Notifications
Circulars
Forms
Manuals
Acts
Rules & Regulations
Case Laws New
Ref Provisions New
Plus +
Source NTF
Summary
Similar
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Permanent transfer of business assets qualifies as a supply when input tax credit was claimed, even without consideration. Permanent transfer of a dealer's air conditioner from stock to personal use constitutes a supply under GST where input tax credit was availed on the asset, and such disposal of business assets is treated as a supply even without consideration.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Permanent transfer of business assets qualifies as a supply when input tax credit was claimed, even without consideration.
Permanent transfer of a dealer's air conditioner from stock to personal use constitutes a supply under GST where input tax credit was availed on the asset, and such disposal of business assets is treated as a supply even without consideration.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.