⭐ Important points (exam-critical)
- ⭐Schedule I: deemed supply even without consideration (related party, agent, asset transfer).
- ⭐Schedule III: activities neither supply of goods nor services (employee services to employer, court).
- ⭐RCM (Reverse Charge): recipient pays GST — specified categories (legal services, GTA, etc.).
- ⭐Exempt supply: no GST + no ITC. Zero-rated (exports, SEZ): no GST + ITC refund allowed.
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