https://www.taxtmi.com/manuals?id=5715 Classification under Schedule II and section 7(1A) treats permanent transfers of business assets as supply of goods when goods cease to form part of business assets and the transfer is made by or under direction of the person carrying on the business; sales by third parties empowered to recover debts are deemed supplies by the taxable person. Temporary transfers or private use of business goods are treated as supply of services. On cessation of taxable status, goods in business assets are deemed supplied immediately before cessation, except for transfer as a going concern or where a personal representative carries on the business. en-us Thu, 07 Nov 2024 11:13:00 +0530 Thu, 07 Nov 2024 11:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=5715 Classification under Schedule II and section 7(1A) treats permanent transfers of business assets as supply of goods when goods cease to form part of business assets and the transfer is made by or under direction of the person carrying on the business; sales by third parties empowered to recover debts are deemed supplies by the taxable person. Temporary transfers or private use of business goods are treated as supply of services. On cessation of taxable status, goods in business assets are deemed supplied immediately before cessation, except for transfer as a going concern or where a personal representative carries on the business. Manuals GST Thu, 07 Nov 2024 11:13:00 +0530 https://www.taxtmi.com/manuals?id=5715