No Consideration - taxability

Can You elaborate Your query...?!


Also think about taxable supply and Rcm related supply...

How practically you will pay tax under reverse charge mechanism for which no consideration is paid.???No invoice will be issued ,how can we claim input tax credit,?how we pay tax?

if there is no consideration then why you will pay gst and how will u claim gst...

section 7(C) read with schedule 1 conveys No consideration transaction as supply

There is no consideration..no need to pay gst and on that product u cannot claim itc if you are giving from business.

But gst can be claim when i have deposited it towards RCM .... so kindly clarify your query with example

yes Mr.pankaj Rawat,you are right ,in GST Even transactions for no consideration is charged to GST TAX between related parties , holding & subsidiary ,( Section 7(C)with schedule 1).


But in transaction for which there is no consideration but GST will be there by estimating market value i think so.Now for no consideration transaction there is no Invoice,then how u pay tax to government

Give Example in which Service / Goods you will asked query

Originally posted by : NANDHUhu D
	yes Mr.pankaj Rawat,you are right ,in GST Even transactions for no consideration is charged to GST TAX between related parties , holding & subsidiary ,( Section 7(C)with schedule 1).But in transaction for which there is no consideration but GST will be there by estimating market value i think so.Now for no consideration transaction there is no Invoice,then how u pay tax to government

Services received from a provider of service located in a non taxable territory by –
(a) the Central Government, State Government, Union territory, a local authority, a governmental authority or an individual in relation to any purpose other than commerce, industry or any other business or profession;
(b) an entity registered under section 12AA of the Income-tax Act, 1961 (43 of 1961) for the purposes of providing charitable activities; or
(c) a person located in a non-taxable territory:
Provided that the exemption shall not apply to –
(i) online information and database access or retrieval services received by persons specified in entry
(a) or entr(b); or
(ii) services by way of transportation of goods by a vessel from a place outside India up to the customs station of clearance in India received by persons specified in the entry.

 

If Your Query  related to Import of Service Receive By Individual for Personal Purchase than that service is also exempt as per Sl.No 99 of Exemption 

For Example -1

Mr A receive service of Architect ( Resident of China ) for Personal House made 

Than Above service is Exempt under GST 

For Example-2 

If XYZ ltd ( China ) Provide to service in Delhi of Archritect and Receiver of Service is PQR Ltd ( Russian ) 

Than Above service also exempt