GST Knowledge Series 1 by CA Praveen Sharma
1. Supply of Goods or Services or both between related persons, when made in the course or furtherance of business shall be treated as Supply, even if made without consideration.
2. Filing of ITR of relatives is out of natural love and affection, but the intention is to cover under Supply and keep in Schedule II of the CGST Act, 2017.
3. Hence, treated as Supply and GST to be charged after raising of the invoice.
4. For Valuation - Open Market Value, or same like kind or quality should be the value, and if not determinable then, Rule 30 or 31 should be apply.
Follow me on Social Media:
1. Facebook : https://www.facebook.com/tax4wealth
2. Linkedin : https://www.linkedin.com/in/tax4-wealth-4aa2b718b/
3. Twitter : https://twitter.com/tax4wealth
4. Tumblr : https://tax4wealth.tumblr.com/
5. Pinterest : https://in.pinterest.com/tax4wealth/pins/
6. Medium : https://medium.com/@bhartichawla27
7. Telegram : https://t.me/tax4wealth
Google Play Store
➨ Writes to us: email@example.com