This is part two of a two-part article on the concept of supply for GST purposes and is relevant for candidates preparing for P6 (MYS), Advanced Taxation. The article is based on prevailing laws as at 31 March 2015. The article is written on the assumption th...
How is the Value of Supply Calculated for GST on Mobile Phones? Value of Supply: Under GST, the value of supply is the total amount collected by the seller from the buyer for the goods or services. When dealing with related parties, GST is charged based on the transaction value, which ...
The rate of Goods and Services Tax (GST) on the supply of food and drinks in a mess or canteen of an educational institution is five per cent without input tax credit (ITC).If schools up to higher secondary level supply food directly to students, then the same are exempt from...
GST is not payable on Human hair, unworked, whether or not washed or scoured; waste of human hair Semen including frozen semen. GST on Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage is nil rate. GST is not payable on sale of Fresh vegetables...
3) Food supplied to the in-patients as advised by the doctor/nutritionists is a part of composite supply of healthcare and not separately taxable. Other supplies of food by a hospital to patients (not admitted) or their attendants or visitors is taxable. ...
made on or after 1 Jan 2024 (for example, due to system update delays), you are still obligated to account for GST at 9% in your GST return. To do this, you can calculate the output tax payable by using the tax fraction of 9/109 on the total payment received for the supply. ...
Choose the applicable GST slab based on your service provided. 3 Select the appropriate "Supply type" for your transaction. 4 Hit the "Calculate" button to instantly get your GST calculation. GST Rates Applicable in India: A Brief Overview ...
Prioritising sustainable supply chains? Building inclusive trade? Working towards the UN’s 2030 SDGs? Read the latest on global sustainable standards vs green-washing here. Customs Heading into international markets? From the correct documentation to standardisation, here’s what you need to know for...
In-flight Food and Beverages supply to airlines classifies as Outdoor Catering Services Bimal Jain08 January 2025 at 13:07 The Hon'ble Supreme Court in the case of Commissioner of CGST and Central Excise Delhi-I v. Ambassador Sky Chef [Diary No. 53701/2024 dated January 02, 2025], dismiss...
1. VAT: It was taxed on the portion of your food on the bill. 2. Service Tax: It was the tax which charged on the services which was provided by the restaurant. 3. Service Charge: Mainly the first thing is THIS IS NOT TAX, it shouldn't be merged with tax a...