Decide as per provisions contained under the CGST Act, 2017 whether the following activities constitute supply or not: (ii) Buying a new car in exchange of old car.
CS Professional · Advanced Tax Laws · PYQS · December 2021
Decide as per provisions contained under the CGST Act, 2017 whether the following activities constitute supply or not: (ii) Buying a new car in exchange of old car.
Answer & Explanation:
Supply. As per section 7(1)(a) of Central Goods and Services Tax Act, 2017, supply includes exchange of goods for a consideration by a person in the course or furtherance of business. Thus, buying a new car in exchange of old car will constitute supply and dealer of car will be liable to pay GST.
Topics: GST
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