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Whether actionable claims liable to GST

Whether actionable claims liable to GST

Topic Name – Whether actionable claims liable to GST As per section 2(52) of the CGST/SGST Act actionable claims are to be considered as goods. Schedule III read with Section 7 of the CGST/SGST Act lists the activities or transactions which shall be treated neither as supply of goods nor supply of services. The Schedule […]

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How will Exports be treated under GST

How will Exports be treated under GST

Topic Name – How will Exports be treated under GST Exports will be treated as zero rated supplies. No tax will be payable on exports of goods or services, however credit of input tax credit will be available and same will be available as refund to the exporters. The Exporter will have an option to […]

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How will imports be taxed under GST

How will imports be taxed under GST

Topic Name – How will imports be taxed under GST Imports of Goods and Services will be treated as inter-state supplies and IGST will be levied on import of goods and services into the country. The incidence of tax will follow the destination principle and the tax revenue in case of SGST will accrue to […]

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