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
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...
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...
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...
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...
Proof of a business or trade, such as a trade license, registration document, or GST registration document. Identity proof and address proof of the authorised person (if the importer is not an individual) Authorised signatory details and a copy of their photo ID (such as PAN card, Aadhar ca...
Disposable 1000ml round food container take away brown bowls with clear lid Material Food grade kraft paper Application Ice Cream, Fruit and vegetable, Salad, Soup, Rice Paper Type Brown kraft Paper, 300gsm Place of Origin Wuhan, Hubei, China Feature Disposable, 10...
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...