The reverse charge mechanism (RCM) under the Indian Goods and Services Tax (GST) refers to a provision in the GST law where the recipient of goods or services is responsible for paying the GST, instead of the supplier. In such cases, the recipient is considered as a taxable person under the GST law and is … Continue reading What is the reverse charge mechanism under the Indian GST
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Explain the time of supply under Indian GST
The time of supply of goods and services under GST is determined based on the date of issuance of invoice or payment, whichever is earlier. If the invoice is issued within the prescribed period, the supply is deemed to have taken place on the date of issuance of the invoice. If the invoice is not … Continue reading Explain the time of supply under Indian GST
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Place of Supply of Goods Under Indian GST — Many Possibility
As we delve into the realm of taxation, the pivotal concept of Goods and Services Tax (GST) reveals itself as a destination-oriented levy / Tax. Within this framework, the notion of “Place of Supply” assumes paramount significance. But what exactly do we mean by the “Place of Supply”? Within the GST framework, the “Place of … Continue reading Place of Supply of Goods Under Indian GST — Many Possibility