When someone want to find tax liability for composite and mixed supply or for composition levy, he must understand the three terms before arriving at decision to tax the transaction. These three terms are distinct with each other and having distinct impact on tax liability of a taxpayer. Therefore we should understand the meaning of these kind of transactions before taxing a transaction as composite or mixed supply or that of composition levy.
Source: taxguru.in
Latest Posts in "India"
- FCIK Calls on Government to Grant Power and VAT Amnesties for Industrial Units
- Transfer Pricing and GST: Understanding Related Party Transactions and Arm’s Length Principle in India
- GST Exemption on Insurance: Has 18% Tax Cut Reduced Premiums for Policyholders? Government Responds
- GST on Mining Lease Royalty: Classification, Applicable Rate, and Reverse Charge Mechanism Clarified
- CESTAT: Software Preloaded in Imported Hardware Includible in Customs Value, No Penalty on Wipro













