· Following transaction will be treated as supply for the levy of GST, even if supply is made without consideration:
(i) Permanent transfer / disposal of business assets
(ii) Temporary application of business assets for private or non-business use
(iii) Services put to a private or non-business use
(iv)Assets retained after deregistration
(v) Supply of goods and / or services by a taxable person to another taxable or non-taxable person in the course or furtherance of business
· Free samples distributed will also be treated as supply of goods.
· Inter-state supplies between two branches / units of an assessee will also be liable for GST.
· Intra-state supplies between two registered business verticals of an assessee will also be liable for GST.
· It is to be noted that there is no levy of GST on capital assets transferred without consideration, as this would lead to double burden, as in that case the input credit taken on such capital assets will also be reversed.