Example:If a food delivery platform facilitates the sale of meals from a restaurant to a customer, the platform (e-commerce operator) is required to collect the applicableGST for food itemsfrom the customer and deposit it with the government. RCM Rules in GSTR Forms – GSTR 1 and GSTR 2...
the total cost becomes ₹105. Upon adding ₹50 in value to the product, he sells it for ₹155. The GST on ₹155 is ₹7.75, but he can claim an input tax credit of ₹5 for the GST paid on raw materials. Therefore, the net GST liability of the manufacturer is ₹2.75...
GST is a single tax that has subsumed several indirect taxes that were previously levied on the sale of goods and services. It is applicable to the manufacture, sale, and consumption of all goods and services in India. This section will cover the following topics Why do we need GST? How ...
Skin lesions associated with chronic arsenic exposure through food chain is associated with GST and CYP 450 polymorphismdoi:10.15864/ijcaes.1402Chanda, SarmishthaRoy, JayashriChakraborty, TusharMazumder, Debendranath GuhaInternational Journal of Chemical and Environmental Sciences...
A GST Compensation Cess at a predefined rate is included under the Goods and Services Tax (Compensation to States) Cess Act, 2017. It applies to demerit goods or specified luxury items, like motor cars, aerated waters (soda), tobacco, pan masala, etc. It is calculated on the value of th...
If a business that was originally tax-exempt becomes a taxable business in order to issue qualified invoices under the Invoice System, it can obtain the 20% special exception. This is when the amount of consumption tax paid is 20% of the tax amount on sales (applicable periods for this are...
If a business that was originally tax-exempt becomes a taxable business in order to issue qualified invoices under the Invoice System, it can obtain the 20% special exception. This is when the amount of consumption tax paid is 20% of the tax amount on sales (applicable periods for this are...
阅读下面内容,在空白处填入一个适当的单词或填入括号中所给单词的正确形式。 Playing with food is rude. But it is okay___1___(play) with food in some cases(情况), such as on food festivals. One famous food festival is cheese racing. It has ___2___ history of over...
For instance, if an office organises a party and provides food and beverages, ITC cannot be claimed on the expenses related to these items, as they fall under the restricted category. However, if a restaurant supplies a mixed or composite package involving both food and beverages alongside elig...
Note:This is a simplified example, and the actual ITC calculation may vary depending on specific factors such as the nature of the goods or services, the applicableGST rates, and any restrictions or reversals of ITC. It’s always advisable to consult with a tax professional for accurate guidan...