Dear All,
As per sec. 7 of CGST Act, supply includes all forms of supply of goods or services, etc. made for consideration by a person in the course or furtherance of business.
I was wondering what all will be included in these words 'course or furtherance of business'.
For example:-
1) A salaried employee selling his old car amounting to ₹ 30 lakhs
2) Does transfer of development rights (for collaboration) by a person into job (not in construction profession) amounting to ₹ 40 Lakhs leads to business transaction under GST or not?
Clarifying 'Course or Furtherance of Business' in GST: Personal Car Sales Not Taxable, Fringe Benefits May Be The discussion focuses on the interpretation of 'course or furtherance of business' under the Goods and Services Tax (GST) as per Section 7 of the CGST Act. Queries include whether selling a used car by a salaried employee or transferring development rights by a non-construction professional constitutes a business transaction under GST. Responses clarify that activities must be part of a business to be considered supply under GST. Selling a personal car is not considered a business activity, thus not a taxable supply. Employee fringe benefits, if not exempted, are deemed supply and taxable. (AI Summary)
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