Category: GST Knowledge Portal

Topic Name -What are composite supply and mixed supply Composite supply is a supply consisting of two or more taxable supplies of goods or services or both or any combination thereof, which are bundled in natural course and are supplied in conjunction with each other in the ordinary course of business and where one of […]

Topic Name -Who can notify a transaction to be supply of goods or services Central Government or State Government, on the recommendations of the GST Council, can notify an activity to be the supply of goods and not supply of services or supply of services and not supply of goods or neither a supply of […]

Topic Name -Will giving away essential commodities by a charitable institution be taxable activity under GST In order to be a supply which is taxable under GST, the transaction should be in the course or furtherance of business. As there is no quid pro quo involved in supply for charitable activities, it is not a […]

Topic Name -Whether supplies made without consideration will also come within the purview of supply under GST Yes, but only those activities which are specified in Schedule I to the CGST Act / SGST Act. The said provision has been adopted in IGST Act as well as in UTGST Act also. Whereas, the supply made […]

Topic Name -What is the taxable event under GST   Taxable event under GST is supply of goods or services or both. CGST and SGST/ UTGST will be levied on intra-State supplies. IGST will be levied on inter-State supplies. What is meant by Taxable Event Taxable event is that event, happening of which attracts liability […]

Topic Name -Where is the power to levy GST derived from   Article 246A of the Constitution, which was introduced by the Constitution (101st Amendment) Act, 2016 confers concurrent powers to both, Parliament and State Legislatures to make laws with respect to GST i. e. central tax (CGST) and state tax (SGST) or union territory […]

Topic Name -What is Anti-Profiteering measure As per section 171 of the CGST/SGST Act, any reduction in rate of tax on any supply of goods or services or the benefit of input tax credit shall be passed on to the recipient by way of commensurate reduction in prices. An authority may be constituted by the […]

Topic Name -Is there any provision in GST for tax treatment of goods returned by the recipient Section 34 deals with such situations. Where the goods supplied are returned by the recipient, the registered person (supplier of goods) may issue to the recipient a credit note containing the prescribed particulars. The details of the credit […]

Topic Name -Different companies have different types of accounting software packages and no specific format are mandated for keeping records. How will department be able to read into these complex software? As per Section 153 of the CGST/SGST Act, having regard to the nature and complexity of a case and in the interest of revenue, […]

Topic Name – . What is the concept of Information Return under GST Information return is based on the idea of verifying the compliance levels of registered persons through information procured from independent third party sources. As per section 150 of the CGST/SGST Act, many authorities who are responsible for maintaining records of registration or […]