GST Means Goods and Services Tax

It is a new tax established in India from 1 July 2017

It is common tax applicable on Supply of goods and Services all over India

Goods are Sold by Dealers and Manufacturers ,Service is Provided by Service Providers

Hence it is applicable to all types of Business-Dealer Manufacturers and Service providers

 

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Is GST Applicable on Sale or Supply?

Npte-It is applicable on Supply .

Supply Means Sales as well as Other Transactions like branch Transfer, Transfer to Agent etc

Example

If Goods Sold transferred from Delhi Branch to Mumbai Branch, it is not Sale

but Still GST is applicable because it is supply of goods

 

 

 

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Transcript

What is GST G S T Stands for Goods and Service Tax Goods-Dealers and Manufacturers and-Common Tax all over India Services-Service Providers Tax-Direct or Indirect

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 10 years. He also provides Accounts Tax GST Training in Delhi and Pune.