Welcome to your Ch 9: Schedule I (1to 5)
1. The following shall be treated as supply even if made without consideration:
2. Examine the following statements where purchase of motor car is capitalised and credit is blocked u/s 17(5)-
i. Motor car held for personal purpose transferred for ₹ 30,00,000 is a supply.
ii. Motor car held for business purpose donated to NGO is a supply.
iii. Motor car held for business purpose sold for ₹ 35,00,000 is not a supply.
3. Examine the following statements where Mr. A distributor of Nestle products is having two business one in Assam and the other in West Bengal.
i. Personal use of Maggi is treated as supply.
ii. Transfer of stock from Assam to West Bengal without consideration is not treated as supply.
iii. Mr. A gifts chocolate worth ₹ 10,000 to his parents who are not dependent on him is treated as supply.
4. Examine the following statements –
i. Mr. A is director in B Ltd therefore Mr. A and B Ltd are a related person.
ii. Mr. A is shareholder holding 25% voting rights in ALtd therefore Mr. A and A Ltd are related person.
5. Examine whether Mr. A is a related person with the following –
i. Spouse.
ii. Children of Mr. A not dependent on Mr. A.
iii. Parents of Mr. A not dependent on Mr. A.
