Question 10 – Draft-Bills-Reports – Meaning and Scope of Supply – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 10 – Q 10. An individual buys a car for personal use and after a year sells it to a car dealer. Will the transaction be a supply in terms of MGL? Give reasons for the answer. Ans. No, because supply is not made by the individual in the course or furtherance of business. Further, no input tax credit was admissible on such car at the time of its acquisition as it was me
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =