- Title as well as possession both have to be transferred for a transaction to be considered as a supply of goods.
- In case title is not transferred, the transaction would be treated as supply of service in terms of Schedule II (1) (b).
- In some cases, possession may be transferred immediately but title may be transferred at a future date like in case of sale on approval basis or hire purchase arrangement. Such transactions will also be termed as supply of goods
229 total views, 4 views today
Please follow and like us: