Question regarding basic concept of GST

184 views
User Avatar

CA-Final Student
801 Points Posted on 01 July 2020
What is the meaning of "passed on the incidence of such tax and interest to any other person" regarding GST refund?
0 Reply Share Follow
On 01 July 2020 at 16:40 Report
Replies (2)
Quick Summary
This discussion clarifies the concept of 'passing on the incidence of tax' within the Goods and Services Tax (GST) system. It explains that when a business collects GST on a sale, it is effectively transferring the tax burden to the next entity in the supply chain, ultimately reaching the final consumer. This understanding is crucial for navigating GST refund processes.

User Avatar

182 Points Posted on 01 July 2020
When manufacturer collects GST on sale to wholesaler, we say incedence of tax is passed to wholesaler. When wholesale collects GST on sale to retailer, we say incidence of tax is passed to retailer. same goes to customer
Hope you understood
3 Reply
On 01 July 2020 at 17:44
User Avatar

2 Points Posted on 17 July 2020
Mention in clear
Reply
On 17 July 2020 at 17:22

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. TDS ON PF FORM 19 WITHDRAWAL
  2. Can a virtual office in Mumbai be used for company
  3. Eway and e invoicing in condition where 4 party ar
  4. Bank balance in ITR-3
  5. INCLUDING PROFITS FROM REIT / INVIT IN SHARE TRADI
  6. Tempsens Instruments IPO GMP Allotment Listing dat
  7. Upload Type - Correction. Not showing in TDS filli
  8. Partnership tax audit query
  9. ERROR SHOWING PARTNER REMUNERATION ITR 3 TIME OF V
  10. Form 146 foreign remittance us citizen

More recent discussions | Post

Related Topics :

Loading