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CBIC CLARIFICATION ON SCOPE OF PRINCIPAL-AGENT RELATIONSHIP IN THE CONTEXT OF SCHEDULE I OF THE CGST ACT
The Central Board of Indirect taxes & Customs (the “Board”) vide Circular No. 57/31/2018-GST dated September 04, 2018 has clarified the scope of Principal-agent relationship as contemplated under Schedule I of CGST Act. It is stated that all activities between Principal & agent and vice versa will not fall within scope of said entry by referring to definition of ‘agent’ contained u/s 2(5) of CGST Act, explains that “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.
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Search for CBIC CLARIFICATION ON SCOPE OF PRINCIPAL-AGENT RELATIONSHIP IN THE CONTEXT OF SCHEDULE I OF THE CGST ACT in the web..
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