Mixed & Composite Supply

The only thing that can cheer you up on a gloomy Monday morning is a travel package to a breath taking destination. Six days and five nights in a five-star hotel, promises of three-steaming hot and scrumptious meals and a personal tour guide seemed inviting to say the least. The carrier of this tempting offer…

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Determining Value of Supply

‘Supply’ is a fundamental concept and all the provisions of GST revolve around it. The three key components under GST are Value of Supply, Time of Supply and Place of Supply. Determining Value of Supply Value of supply means the money that a buyer owes to a seller for the goods and services supplied. The…

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Determining Time of Supply

Time of supply under GST means the time when goods/services are considered supplied. Taxpayers have to pay CGST/SGST or IGST at the time of supply. While place of supply helps to determine the levy (CGST/SGST/IGST), time of supply helps to find out the due date for payment of taxes. A. Time of Supply for Goods The time…

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Place of Supply

Apart from determining the type of supply, it is also essential to understand the concept of place of supply and value of supply under GST. GST is a destination based tax. This means that the tax is collected in the place where the buyer receives goods or services. The state where the delivery of service and/or…

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Meaning & Types of Supply under GST

Types of supply under GST   For a registered taxpayer, supply under GST can be classified into two major categories – Taxable supplies and Non-taxable supplies.   Supplies where there are more than one goods and/or services involved While traders can supply goods and services individually, they can also supply them as a bundle or…

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