The GST officers have come to a conclusion by providing the businesses with a system through which it will become mandatory for them to generate ‘e-invoice’ for every sale on the government GST portal. This system will only be applicable to those whose turnover threshold is above the determ...
the amount of monetary consideration, and the open market value of the consideration which is not in monetary form. For the supply of goods, the value includes excise duty paid/to be paid (where applicable). In the case of imported goods, the value includes custom...
Applicable transactions: Taxable Business-to-Business sale of goods or services Business-to-government sale of goods or service Exports Deemed export Supplies to SEZ (with or without tax payment Stock transfers or supply of services to distinct person SEZ developer Supplies under reverse charge...
Services that are classified as international services. E.g. air ticket from Singapore to Thailand (international transportation service) 2. Non-Taxable Supplies 2.1Exempt Supplies (GST is not applicable) Goods: Sale and rental of unfurnished residential property ,Importation and local supply of invest...
Moreover, the latest version incorporates advanced features to enhance accuracy and efficiency in generating e-way bills, thereby facilitating smoother logistics operations, and promoting transparency in the transportation of goods across the country. If you are looking for an easy solution to manage ...
15. RCM applicable without any exemption limit wef 01-02-2019 for a class of registered persons in respect of supply of specified categories of goods or services or both received from an unregistered supplier as per Notification No.01/2019 – Central Tax (Rate) and amended section 9(4) of...
3. What is the time of Supply for Reverse charge Mechanism (RCM)? i.For Supply of Goods In case of reverse charge applicable on the supply of goods, the time of supply shall be the earliest of the following dates: a. Date of receipt of goods. ...
When a registered GTA provides transportation service to any of these persons, the GTA is liable to pay tax on the supply. This is applicable only when the GTA is registered. If the GTA is also unregistered, there will be no tax liability on the GTA or the recipient. ...
Definition of treatment for e-commerce Categories of GST Under GST, there are three taxes that are applicable, including: CGST –Which the Central Government collects for an intra-state sale. SGST –Collected by the State Government for an intra-state sale. IGST –Collected by the Central Gover...
on my product Curd. Lassi is exempted from paying GST. No GST applicable for Butter milk. Chena or paneer, other than put up in unit containers and bearing a registered brand name is exempted to pay GST. No GST concession on sale of Natural honey, other than put up in unit container ...