(Schedule I of GST)

Following are treated as Supplies even if without consideration

  1. Permanent Transfer/Disposal of Business Assets:
  2. Supply of Goods and Services between related person or distinct persons:
  3. Supply of goods between Principal – Agent:
  4. Importation of services


Permanent Transfer/Disposal of Business Assets:

It includes cases such as

  1. Sale of Assets on winding up of business
  2. Take over /Sale of Assets from Holding Co to Subsidiary Companied or vice versa
  3. Use of Business Assets for personal use


The above shall be treated as supply only if ITC (Input Tax Credit) has been taken on such assets)

Supply between related person or distinct persons:

  • Related Persons means
  • Distinct Person means


Gifts given by employer to employee of uptp 50000 in a financial year shall not be treated as Supply

(Hence ,if value of gifts are more than 5000,it will be treated as supply and GST will be charged on it)

Related Person

Supply of goods from Principal to Agent:

Supply of goods by

Principal to Agent


Agent to Principal

Without consideration is covered here

Hence,It is considered as Supply

Note: Only Supply of goods covered, not services

Importation of Services

It means

Import of Service


A taxable person


Related person/establishment outside India

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.