AGENTS UNDER GST
By: – Dr. Sanjiv Agarwal
Goods and Services Tax – GST
Dated:- 26-10-2017
Meaning of Agent
As per section 2(5) of the CGST Act, 2017, 'agent' means a person, including a factor, broker, commission agent, arhatia, del credere agent, an auctioneer or any other mercantile agent, by whatever name called, who carries on the business of supply or receipt of goods or services or both on behalf of another;
Essential Attributes of an Agent
Following attributes are essential for anyone to be called an 'agent'-
* An agent is a person,
* Caries on business of supply of goods or services on behalf of another, or
* Carries on business of receipt of goods or services on behalf of another,
* An a
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es on behalf of another persons, whether for an agreed commission or a brokerage or not. Under section 24 of CGST Act, 2017, registration is compulsory.
An agent who is liable to be registered under section 24 of the subject to threshold exemption limit. The taxable threshold shall include all supplies made by a taxable person (which includes an agent) whether on his own account or made on behalf of his principal(s).
Supply of goods by or to agent without consideration to be treated as supply
In terms of Schedule-I to the CGST Act, 2017 read with Section 7, following supplies shall be treated as supply even if made without consideration:
Supply of goods-
* by a principal to his agent where the agent undertakes to supply such goods on
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