Consideration for Supply

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..... made by the recipient or by any other person. If subsidy directly link with supply, from by a person other than govt. shall be include in consideration. Subsidy which is not directly link with supply which not include in transaction value of supply. 2. A deposit given in respect of the supply of goods or services or both shall not be considered as payment made for such supply unless the supplier applies such deposit as consideration for the said supply. The GST payable by you on a *taxable supply for which the *consideration is a deposit that was held as security for the performance of an obligation is attributable to the tax period during which the deposit: (a) is forfeited because of a failure to p .....

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..... there is no consideration flowing from the gallery to the artist when the art works are sent to the gallery for exhibition and therefore, the same is not a supply. It is only when the buyer selects a particular art work displayed at the gallery, that the actual supply takes place and applicable GST would be payable at the time of such supply. Meaning of Consideration- sec. 2(d) of Indian Contract Act 1872 When, at the desire of the promisor, the promise or any other person has done or abstained from doing, or does or abstains from doing, or promises to do or to abstain from doing, something, such act or abstinence or promise is called a consideration for the promise Type of Consideration Consideration can .....

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..... Secondly , we may exchange our old mobile phone and pay lesser money to the extent of value determined for old mobile phone. Here money equivalent value of old mobile phone agreed between supplier and recipient will also be a part of consideration of new mobile phone on which GST will be charged by Supplier. 2. An artist performing on a street does an activity without consideration even though passersby may drop some coins in his bowl kept after feeling either rejoiced or merely out of compassion. They are, however, under no obligation to pay any amount for listening to him nor have they engaged him for his services. On the other hand, if the same person is called to perform on payment of an amount of money, then the performance .....

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