Following is text from CGST Act, 2017 - Schedule 1
SCHEDULE I
[See section 7]
ACTIVITIES TO BE TREATED AS SUPPLY EVEN IF MADE WITHOUT
CONSIDERATION
1. Permanent transfer or disposal of business
assets where input tax credit has been availed on such assets.
2. Supply of goods or services or both between
related persons or between distinct persons as specified in section 25, when
made in the course or furtherance of business:
Provided that gifts not exceeding fifty thousand
rupees in value in a financial year by an employer to an employee shall not be
treated as supply of goods or services or both.
3. Supply of goods—
(a) by a principal to his agent where the
agent undertakes to supply such goods on behalf of the principal; or
(b) by an agent to his principal where
the agent undertakes to receive such goods on behalf of the principal.
4. Import of services by a taxable person
from a related person or from any of his other establishments outside India, in
the course or furtherance of business.
From: Goutham Tax Consultancy
GST, Income tax, TDS & PT
Phone Number: 9242858227