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gst supply conditions

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Why Supplier Evaluation is Critical for your Business under GST

In the erstwhile regime, the value of input credit availed by you did not depend on the remittance of tax liability by the supplier. As a result, the compliance of vendor was not an influencing factor in vendor evaluation. Largely, it was all about the cost, quality and efficiency of supplier in delivering the product or services. Under GST, compliance of your vendor will be one of the critical factor in selection/evaluation of your supplier. This is because your input tax credit will be dependent on your supplier’s compliance, that is, your supplier should file the return. He must declare the outward supplies along with the tax payment, and post-matching of invoice. If your supplier fails to furnish a valid return, […]

By |2022-09-28T06:12:38+00:00August 3rd, 2017|GST, gst compliance, gst supply, gst supply conditions, selection of supplier, supplier evaluation, Tax|Comments Off on Why Supplier Evaluation is Critical for your Business under GST

How to Determine the Place of Supply of Specific Services

Type of Service Type of recipient Place of supply Example Restaurant and catering services Not applicable Location where the service is rendered Manish Caterers in Mumbai, Maharashtra, provides catering services to Mukesh Automobiles for their annual sales event in Mumbai.Location of supplier: Mumbai, MaharashtraPlace of supply: The catering service is performed in Mumbai, MaharashtraThis is an intrastate supply and the taxes applicable are CGST +SGST Personal grooming, fitness, beauty treatment and health services, including cosmetic and plastic surgery Not applicable A Chartered Accountant registered in Bangalore, Karnataka, takes an Ayurveda treatment at Dev Ayurveda Centre in Kerala.Location of supplier: KeralaPlace of supply: The Ayurveda treatment is performed in KeralaThis is an intrastate supply and the taxes applicable are CGST + […]

By |2022-07-20T10:37:43+00:00May 2nd, 2017|goods and services tax, GST, gst restaurants, gst supply, gst supply conditions, supply of service|Comments Off on How to Determine the Place of Supply of Specific Services

What is Time of Supply for Services on Reverse Charge

In our previous blog, we discussed Time of Supply for Services under the Forward Charge Mechanism. Under the reverse charge mechanism, the recipient or buyer of services has to pay tax to the credit of the government unlike forward charge, where the supplier has to pay tax to the government. What is reverse charge mechanism? Under the reverse charge mechanism, the recipient or buyer of services has to pay tax to the credit of the government unlike forward charge, where the supplier has to pay the tax. For example, on availing a transportation service, the recipient of the service has to pay service tax to the government. Why reverse charge mechanism? In order to ensure that the tax is collected […]

By |2022-10-19T09:38:14+00:00March 31st, 2017|goods and services tax, GST, gst supply, gst supply conditions, gst supply on reverse charge, reverse charge, supply of service, time of supply|Comments Off on What is Time of Supply for Services on Reverse Charge

What is Time of Supply for Goods on Reverse Charge

In our previous blog post What is Time of Supply for Goods on Forward Charge we discussed time of supply for goods on Forward Charge. In this blog, we will discuss time of supply of goods on reverse charge. In order to ensure that the tax is collected on the sale of goods or services from various unorganised sectors, the government introduced Reverse Charge Mechanism. Under this, the recipient or buyer of goods or services has to pay the tax to the credit of the Government, unlike in the forward charge, where supplier is liable to pay the tax. The key change is the shift in responsibility of paying tax, which has moved from the supplier to the buyer. Under Current […]

By |2022-05-04T13:29:35+00:00March 31st, 2017|goods and services tax, GST, gst supply, gst supply conditions, reverse charge, supply of goods, time of supply|Comments Off on What is Time of Supply for Goods on Reverse Charge

What is Time of Supply for Services on Forward Charge

In our previous blog post What is Time of Supply for Goods on Forward Charge we discussed time of supply for goods. In this blog, we will discuss the Time of Supply on Forward Charge for Services. Under Current Regime Under the current indirect tax regime, on rendering taxable services, service tax is applicable. The point in time when service tax is to be paid to the central government is determined in accordance with the point of taxation (POT). According to POT, the liability to pay service tax on forward charge will be determined as shown below: Earliest of the following Date of issue of invoice If the invoice is issued within 30 days from the date of completion of the […]

By |2023-03-16T06:29:50+00:00March 29th, 2017|forward charge on services, forward charges, goods and services tax, GST, gst supply, gst supply conditions, supply of service, time of supply|Comments Off on What is Time of Supply for Services on Forward Charge

What is Time of Supply for Goods on Forward Charge

Point of Taxation (POT) refers to the point in time when tax is required to be paid. This is a mechanism which is used to determine the point in time when the tax liability will arise. Under the current indirect tax regime, the point of taxation is different for each of the tax type. Scenario Type of Tax Point of Taxation Manufacturing of Goods Central Excise Incidence of excise duty arises on the manufacture of goods in India, and the liability to pay excise duty arises at the time of removal of the excisable goods from the excise unit. For example, Goods manufactured on 28th April, 2016 and removed from the excise unit for sale on 5th May,2016. The liability of […]

By |2022-05-04T13:59:59+00:00March 27th, 2017|forward charges, forward charges on goods, goods and services tax, GST, gst supply, gst supply conditions, supply of goods, time of supply|Comments Off on What is Time of Supply for Goods on Forward Charge

How to Determine the Place of Supply of Services

In the current tax regime, the provision of a taxable service is subject to service tax.  Service tax is levied by the Central government and is applicable irrespective of whether the provision of service is interstate or intrastate. However, under GST, the place of supply of service will determine the type of tax applicable on the service. This is based on the concept of GST being a ‘destination based consumption tax’, where tax will accrue to the State where the supply is consumed. Hence, it is important to determine the place of supply of services. The rules for determining the place of supply of services are different from the rules for determining the place of supply of goods. In case […]

By |2023-03-23T09:49:07+00:00March 16th, 2017|goods and services tax, GST, gst place of supply, gst supply, gst supply conditions, supply of service, Uncategorized|Comments Off on How to Determine the Place of Supply of Services

How to Determine the Place of Supply in Case of Bill to-Ship to Transactions

In the Bill to – Ship to model, the billing and shipping of goods are done to two states and entities. In order to avoid the cascading of multiple taxes through the course of the transaction, the first sale will be taxable, and any subsequent sale during the movement of goods is exempt from tax. Today, Bill to – Ship to transactions are a common occurrence. Let us understand ‘Bill to – Ship to’ transactions with an example. Ganesh Traders, a dealer in hardware goods, located in Maharashtra receives an order from Maruthi Traders, located in Karnataka. The order is for the supply of 100 aluminium ladders, with an instruction to ship the ladders to Prime Hardwares, located in Tamil Nadu. […]

By |2023-03-16T05:29:22+00:00March 13th, 2017|bill to ship to, goods and services tax, GST, gst calculation, gst place of supply, gst supply, gst supply conditions, supply of goods, supply of service|Comments Off on How to Determine the Place of Supply in Case of Bill to-Ship to Transactions

How to Determine the Place of Supply When there is No Movement of Goods

1. When supply does not involve movement of goods, the location of the goods at the time of delivery to the recipient is the place of supply. For example: Rex Cars, whose registered place of business is Chennai, Tamil Nadu, opens a showroom in Mysore, Karnataka. They purchase a pre-installed generator at the premises from Rohan Generators in Mysore, Karnataka. Location of supplier: Mysore, Karnataka Place of supply: The supply of the generator does not require its movement. Hence, the place of supply is Mysore, Karnataka. This is an intrastate supply, and the taxes applicable are CGST and SGST. When supply does not involve movement of goods, the location of the goods at the time of delivery to the recipient […]

By |2022-05-04T10:30:15+00:00March 10th, 2017|goods and services tax, GST, gst place of supply, gst supply, gst supply conditions, supply of goods, supply of service|Comments Off on How to Determine the Place of Supply When there is No Movement of Goods

Supply of Goods or Services between Related and Distinct Persons

In our earlier blog GST Impact on Supply without Consideration and Importation of Services, we discussed about supply without consideration and the import of service. This blog discusses, in detail, supplies without consideration between: • Related person • Distinct person Related person The definition of “Related Person” is similar to the current Customs Valuation Rules. The supply is considered as between related persons only if the supply of goods or services is made between 1. Officers or directors of one another’s businesses: In a supply, the supplier and the recipient are actually officers or directors of the other business. As illustrated above, Mr. Ganesh is a Director in Ganesh Trading Ltd and an officer in Rakesh Trading Ltd. Mr. Rakesh […]

By |2023-05-05T06:51:51+00:00February 15th, 2017|goods and services tax, GST, gst supply, gst supply conditions, supply of goods, supply of service, supply to distinct person, supply to related person|Comments Off on Supply of Goods or Services between Related and Distinct Persons

GST Impact on Supply without Consideration & Importation of Services

In our earlier blog Supply of Goods and Services: What does it Mean we discussed about which is mostly about business operational activities like sales, transfers, and so on. In this blog post, we will discuss exceptional scenarios, which form a part of supply, and are taxable: Supplies made without consideration Supplies made for a consideration, whether or not in the course or for furtherance of business Supply without consideration The following activities are considered as Supply even without consideration, and are liable for tax. Note: A key scenario ‘Supply of goods and or services without consideration between related persons or distinct person’, will be covered in detail in our next blog post. 1. Permanent transfer/disposal of business assets on which […]

By |2021-10-07T13:41:52+00:00February 8th, 2017|GST, gst supply, gst supply conditions, supply of goods, supply of service|Comments Off on GST Impact on Supply without Consideration & Importation of Services

Supply of Goods and Services: What does it Mean?

Under the current indirect tax structure, the taxable event differs for each type of tax. The taxable events under the current indirect tax structure are captured below: Type of Tax Taxable Event Central Excise Removal of excisable goods VAT On sale of goods Service Tax Provision of taxable services   The taxable event under GST is the Supply of Goods and/Services. All taxes such as Central Excise, Service Tax and VAT/CST will be subsumed under GST, and the concept of manufacture of goods, sale of goods, and provision of services would no longer be relevant. Thus, for every business, it is crucial to understand the relevance of supply which sets the scope of transactions liable for the levy of GST. […]

By |2022-07-20T10:27:38+00:00January 31st, 2017|goods and services tax, GST, gst supply, gst supply conditions, supply of goods, supply of service|Comments Off on Supply of Goods and Services: What does it Mean?

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