📌 Schedule III of CGST Act, 2017 – Transactions treated as NO SUPPLY 🚫
Many transactions look like supply… but legally, they are NOT considered supply under GST.
Understanding this is crucial for: ✔ CA Students ✔ Tax Professionals ✔ Business Owners
🔍 What does Schedule III cover? These are transactions which are outside the scope of GST completely: 👉 Services by an employee to employer (in course of employment) 👉 Services by any Court or Tribunal 👉 Functions performed by MPs, MLAs, etc. 👉 Sale of land & (completed) building 👉 Actionable claims (except lottery, betting, gambling) 👉 Funeral, burial, crematorium services
💡 Important Insight: These are neither supply of goods nor services → So: ❌ No GST ❌ No ITC impact ❌ Not even exempt supply
⚠ Common Mistake: Many confuse Schedule III with Exempt Supply — but both are completely different.
📊 Why it matters? Misclassification can lead to: Wrong GST payment ITC reversal issues Litigation risk
🎥 I have explained this concept in detail (with practical examples) in my latest YouTube video 👇 👉 Video Part-1: lnkd.in/g9Teugpr 👉 Video Part-2: lnkd.in/gajsWa8q
If you find this useful: 👍 Like 💬 Comment your doubts 🔔 Subscribe to my channel for more GST clarity.
Hi everyone, welcome to my new YouTube Community. Now you can post on my channel too. To get started, tell me in a post what you'd like to see next on my channel. Visit my Community: youtube.com/@CADinesh-e9e/community
CA Dinesh Chauhan
#Schedule 3 of CGST Act 2017
📌 Schedule III of CGST Act, 2017 – Transactions treated as NO SUPPLY 🚫
Many transactions look like supply… but legally, they are NOT considered supply under GST.
Understanding this is crucial for:
✔ CA Students
✔ Tax Professionals
✔ Business Owners
🔍 What does Schedule III cover?
These are transactions which are outside the scope of GST completely:
👉 Services by an employee to employer (in course of employment)
👉 Services by any Court or Tribunal
👉 Functions performed by MPs, MLAs, etc.
👉 Sale of land & (completed) building
👉 Actionable claims (except lottery, betting, gambling)
👉 Funeral, burial, crematorium services
💡 Important Insight:
These are neither supply of goods nor services → So:
❌ No GST
❌ No ITC impact
❌ Not even exempt supply
⚠ Common Mistake:
Many confuse Schedule III with Exempt Supply — but both are completely different.
📊 Why it matters?
Misclassification can lead to:
Wrong GST payment
ITC reversal issues
Litigation risk
🎥 I have explained this concept in detail (with practical examples) in my latest YouTube video 👇
👉 Video Part-1: lnkd.in/g9Teugpr
👉 Video Part-2: lnkd.in/gajsWa8q
If you find this useful:
👍 Like
💬 Comment your doubts
🔔 Subscribe to my channel for more GST clarity.
2 months ago | [YT] | 1
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CA Dinesh Chauhan
Hi everyone, welcome to my new YouTube Community. Now you can post on my channel too. To get started, tell me in a post what you'd like to see next on my channel.
Visit my Community: youtube.com/@CADinesh-e9e/community
5 months ago | [YT] | 0
View 0 replies