GST law provide two event i.e. Taxable event & Charging Event, Taxable event in GST is supply of goods or service or both whereas Charging event in GST is time of supply i.e. At what time GST liability is to be paid. GST will be payable on every supply of goods or services or both unless otherwise exempted. In other words GST is applicable only if transactions constitute the supply, if there is no supply no GST will charged. Before the discussion we need to know definitions related to this article.
Source Taxguru
Latest Posts in "India"
- India’s GST Council Endorses Two-Tier Tax Structure for 2025
- GST Reduction on Fruit Drinks Excludes Colas; Prices Remain Unchanged for Carbonated Beverages
- Supreme Court Stays Retrospective GST Penalty, Examines Applicability to Non-Taxable Persons
- India Unveils Simplified GST Rate Structure
- GST 2.0: Key Changes, New Rates, and Business Impact Explained
