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Freight charges is the cost of transportation services. According to the Business Dictionary, freight costs include packaging, palletizing, loading or unloading charges, carrier fees, and insurance costs.
As per the Section 2(6) of IGST Act, 2017 "export of services" means the supply of any service
Export incentives are certain benefits exporters receive from the government as acknowledgement for bringing in foreign exchange and as compensation for the costs they incur.
The expression 'Supply' includes all forms of supply of goods or services or both made or agreed to be made for a consideration by a person in the course or furtherance of business.
Co-operative Housing Societies are entities registered under the co-operative laws of the respective states. In this article, we discuss the GST implication on Housing Societies and Residential Welfare Associations.
Slump-Sale is the sale of an undertaking as a going concern for a single consideration. In this article, we will discuss the implication of tax in slump-sale as far as GST is concerned.
GST is applicable only if transactions constitute the supply. If there is no supply, no GST will be charged. Let us understand the GST implication on lease and sale of motor vehicles.
A combined reading of Section 16(1) of CGST Act, 2017 and definitions it is concluded that registered persons can avail ITC (IGST & CGST & SGST) u/s 16(1) of CGST Act, 2017 and not separately under respective Acts.
In this article, we will discuss the Eight Terms of Supply i.e Sale, Transfer, Barter, Exchange, Lease, Rental, License, and Disposal.
The ITC available in the electronic credit ledger could always be fully utilised for discharging the output tax liability. The new Rule 86B has limited the use of ITC balance for paying its output tax liability.
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