Section 2(5) of CGST Act 2017 : "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.
Analysis - Definition of agent is illustrative not exhausted.
Del Credere Agent means where the agent acts not only as a salesperson or broker for the principal, but also as a gurantor of credit extended to the buyer. If the buyer is unable to pay bill after the transaction is completed, a del credere agent may become liable for the amount that was unable to be collected.
Analysis - Definition of agent is illustrative not exhausted.
Del Credere Agent means where the agent acts not only as a salesperson or broker for the principal, but also as a gurantor of credit extended to the buyer. If the buyer is unable to pay bill after the transaction is completed, a del credere agent may become liable for the amount that was unable to be collected.
No comments:
Post a Comment