if we are supplying 3 goods in one invoice taxed at different rates like rice @ 0%, branded rice @ 5%, pasta @ 18% in one invoice then what should be tax rate on freight?
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Tax rate on freight in case of different taxable goods in an invoice
Replies (7)
you can not raised zero rated item in tax invoice
I hv checked ...bill of supply will be used when all items in an invoice are tax exempt, but when even if one item is taxable out of many item in an invoice, we can use tax invoice
So what will freight charges be taxed at?
Which is highest rate of Tax that one applicable to freight
what act says is..it will be added in transaction value..hence should be proportionately added in every product value and should be taxed accordingly
| Originally posted by : Vikas Gupta | ||
 |
what act says is..it will be added in transaction value..hence should be proportionately added in every product value and should be taxed accordingly |  |
Chapter III,
Sec 8. :
The tax liability on a composite or a mixed supply shall be determined in the following manner, namely:—
(a) a composite supply comprising two or more supplies, one of which is a principal supply, shall be treated as a supply of such principal supply; and
(b) a mixed supply comprising two or more supplies shall be treated as a supply of that particular supply which attracts the highest rate of tax.
Can any one give the example with some figure
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