Time, Place and Value of Supply under GST
Under GST, the present approach of levy of tax on the manufacture, provision of taxable offerings, and sale of items shall be replaced via the inspiration of ‘supply’. For this reason, the taxable event under Goods and Service Tax is the ‘give’ of goods or services. Extra underneath ‘Supply’ there are three fundamental standards:
These 3 define the incidence of taxability, i.e whether or not tax will probably be levied or no longer, tax form to be levied i.e SGST, CGST & IGST, the price of taxable deliver of items/services and many others.
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