supply without consideration

[Madhavan iyengar]

After cgst amendment act 2018 wherein sec 7 clause (d) is deleted effective from 01/07/2017

query now any supply made with out consideration will it be liable to gst ( other than exceptions like import of services and transactions between related parties and items specified in schedule I without consideration)

AI Summary

CGST Amendment Act 2018: Only Schedule I Activities Without Consideration Are Taxable, Excluding Imports and Related Party Transactions. A query was raised regarding the impact of the CGST Amendment Act 2018 on supplies made without consideration. After the deletion of Section 7(1)(d) and the insertion of sub-section 1A, only activities specified in Schedule I of the CGST Act, which are made or agreed to be made without consideration, are treated as taxable supplies. This includes specific exceptions like import of services and transactions between related parties. Other supplies made without consideration are not considered taxable under the CGST Act.