https://www.taxtmi.com/article/detailed?id=6957 The Model GST law designates supply as the single, inclusive taxable event, using expansive language to cover supplies for consideration, importation of services, and specified supplies without consideration (Schedule I). This broad framing-including barter, exchange, permanent or temporary use of business assets for private purposes, and principal-agent deeming-raises interpretive, valuation and attribution challenges, particularly because input tax credit is restricted to business-attributable inputs while GST may apply to private use of business assets, likely requiring clarifying rules or amendments. en-us Thu, 01 Sep 2016 12:58:21 +0530 Thu, 01 Sep 2016 12:58:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6957 The Model GST law designates supply as the single, inclusive taxable event, using expansive language to cover supplies for consideration, importation of services, and specified supplies without consideration (Schedule I). This broad framing-including barter, exchange, permanent or temporary use of business assets for private purposes, and principal-agent deeming-raises interpretive, valuation and attribution challenges, particularly because input tax credit is restricted to business-attributable inputs while GST may apply to private use of business assets, likely requiring clarifying rules or amendments. Articles Goods and Services Tax - GST Thu, 01 Sep 2016 12:58:21 +0530 https://www.taxtmi.com/article/detailed?id=6957