What Happens if You Pay Wrong Tax on Supply
Under GST, the place of supply determines the tax to be charged on a supply. Based on whether the supply is of goods or services, specific rules have been laid down to determine the place of supply. With GST being implemented on 1st July, 2017, it is expected that there will be situations where the wrong tax has been charged on a supply and the same has been paid to the Government. This can happen in 2 scenarios: CGST + SGST/UTGST has been collected and paid instead of IGST IGST has been collected and paid instead of CGST + SGST/UTGST Scenario 1: CGST + SGST/UTGST has been paid instead of IGST In this case, a supplier considers a supply to […]