Actionable claims excluded from supply under Schedule III, with statutory definition governing GST treatment. Paragraph 6 of Schedule III excludes actionable claims-other than lottery, betting, and gambling-from being treated as supply of goods or services, ... Summary
Actionable claims excluded from supply under Schedule III, with statutory definition governing GST treatment.
Paragraph 6 of Schedule III excludes actionable claims-other than lottery, betting, and gambling-from being treated as supply of goods or services, referencing the statutory definition of "actionable claim" from the applicable transfer law; this carve out places qualifying actionable claims outside the GST levy and collection regime except where expressly excluded.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.