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Concept of Deemed Sales and GST

Goods and Services Tax - GST - By: - Shripada Hegde - Dated:- 1-4-2017 - Clause 29A of Article 366 of the Constitution of India, inserted by 46th amendment to the Constitution gains very much importance as the same lays down the concept of deemed sale and enables the states to tax certain transactions. This was important as taxes were levied either on Sale of Goods or on Provision of Services . However in the GST Regime tax is levied on Supply of Goods and Services and the supply need not necess .....

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ly of goods by an unincorporated association or body of persons to its members Supply of food or any drink as part of any service Treatment under GST Regime Transfer of controlled commodities for consideration Under the earlier tax regime in order to be taxable supply of goods should have been Sale . And controlled commodities cleared under statutory compulsion were claimed not to be sale as the consent of the seller was not free. However in the GST regime, which levies tax on Supply , only ques .....

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aid entry reads as follows:- (f) works contract including transfer of property in goods (whether as goods or in some other form) involved in the execution of a works contract; Hence, it is clear that the value of works contract including the value of property in goods is supply of service. Hire purchase system or installment purchase system & Transfer of Right to use It has been specifically provided in sub-clause (c) to clause 1 of Schedule II that transfer of title in goods under an agreem .....

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