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which tax rate to be applicable if there is mixed supply of goods
we are manufacturer of fasteners and there are many types of materials used in production such as mild steel, brass, stainless steel now rates on brass components and mild steel fasteners are different now if both the items are invoiced under same invoice how to tax both items
Replies (4)
To avoid to be termed as composite supply it is advisable to prepare separate invoice and receive PO if product are independent in nature. Otherwise the principal item's GST rate should be applied.
the highest rate among them would be considered as gst rate if it was consolidated
if u considered as mixed supply & invoiced then u have charge tax at highest rate (i.e among supply) or if it is composite supply then it is charged at principal items rate.
higher tax value of item which ever is higher for example food is for 5% and soft drinks is 18% then 18% will be applicable
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