MATTERS TREATED AS SUPPLY OF GOODS & SER

GOODS

1 Transfer of title to Goods

Transfer of title under agreement stating "property in

2 goods will pass at future post payment of
consideration"

3 Supply of goods by an unincorporated association/BOP

to a member for cash
4

Where goods forming part of assets of business are

transferrred/disposed under the direction of a person
carrying the business whether or not for consideration

5 Goods made avilable/ used for private use or other

than business use whether or not for
consideration( under the direction of person handling
the business)

6 If goods forming part of the assets of a taxable person sold by a

person who has the power in order to recover the debts
SUPPLY OF GOODS & SERVICES ( for consideration)

SERVICES

1 Renting of immovable property

2
Construction* of complex,building, civil structure or
part thereof ( including those intended for sale wholly
or partly)
Transfer of Goods/ Rights in Goods/ undivided share in
3 goods without transfer of title

4 Where the consideration is received in full after

issuance of certificate of completion/ before its first
occupation whichever is earlier

5 Temporary transfer/permitting to use any intellectual

property

6 Works contract incl transfer of property in

goods

7 Development/ design/ programming/customizing/

upgradation of IT software

8 Treament/ process applied to goods belonging to

others
9 Lease, tenancy,easement, licence to occupy land/ letting out of
building for businesseither wholly or partly

* includes additions/alterations/replacements/
remodeling of exisiting civil structure
 TIME OF SUPPLY OF SERVICES

1 Invoice issued within 30 days

Date of issue of Invoice Date of receipt of payment

Whichever is earlier

2 Invoice not issued within 30 days

Date ofcompletion of service Date of receipt of payment

Whichever is earlier

3 Date on which recipient shows the receipt of services in Books of Accounts if (a) & (b) does not apply

Note: Supply shall be deemed to have been made to the extenet covered under invoice/
payment as the case maybe)

TIME OF SUPPLY OF SERVICES UNDER RCM

Date immediately following 30 days from

Date of receipt of goods Date of payment as entered in the BOA of recipient/ the date of issue of invoice/any other
date on which payment is debited in bank account document in lieu

Whichever is earlier
 Valuation Rules under GST

When Price is the Sole Cosideration & both

supplier & recipient are not related When Price is the not the sole Cosideration
& supply is between related/ distinct
persons

Section-15 Taxable Value= Transaction Value Value of Goods when consideration is not wholly in money
(i) Open Market Value

Transaction Value is the price actually paid/ payable (ii) Sum of total consideration in money+cash equivalent of
where the supplier & receiver are not related & price is consideration in kind (if known at the time of supply)/value of
the sole consideration like kind of goods
(iii) 110% of Cost of Production/ Provision of Service (Rule 4)
Transaction Value Includes: (iv) Residuary Method ( Rule 5)
(i) Duties, Taxes , fees levied by any law in force for the time being except GST Value of Goods when sold through an agent
(ii) Royalty, Licence
Any payment madeFeebypayable by recipient
recipient on behalftoofthe extent&not
supplier to covered in not
the extent the price (i) Open Market Value
(iii) included in the price (ii) 90% of the price charged by the recipent to his customers ( unrelated party)
(iv) Subsidies provided that are linked to supply Value of Goods when sold other than through an agent
(v) Reimbursement of expenses/ Cost (i) Open Market Value
(ii) Value of supply of like kind of goods
Transaction Value Excludes: (iii) Rule 4
(i) Discount allowed post supply ( as per agreement) and linked to relevant invoices (iv) Rule 5
(ii) Trade Discount