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 ...
Traditionally, games of skill were exempt from GST as they were not considered a supply of goods or services. However, recent recommendations by the GST Council propose a 28% GST on the full face value of the contest entry amount (CEA). GST on Games of Chance Games of chance primarily re...
Under the Indian GST law, the supply of goods or services from one state to another is classified as interstate supply –on which the Integrated Goods and Services Tax (IGST) is applied. For tax liability, service recipient would be liable to pay IGST under reverse charge. Features of ...
In case of inter-state invoices below 2.5 lacs an intra-state supply, state wise summary will be sufficient. Q. How to revise the GST returns? Any amendment or revision in a GST return filing is recorded in rectification return. Q. How to revise the GSTR-1? To record an amendment ...
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...
we are supplying labour to road project firm . What is the rate of man power supply where as present rate is on repair & maintenance 14% swachha Bharat 1% and KCC 1% Mmukesh:On 15 June 2017 Sir,modi is giving free lpg set to women,he has exampt wheat&rice in gst,but he is not...
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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 ...
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...
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. ...