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"
- Supreme Court Rules: “Parts” Must Functionally Integrate into Machinery, Rejecting End-Use Claims
- Centre to Consider Panel’s GST Recommendations on Air Purifiers, Tells Delhi High Court
- Sunglasses Not Classified as Spectacles, Taxable at Higher 12.5% VAT: Punjab & Haryana HC
- BMW Urges No GST Hike on EVs as Electric Car Sales Surge Over 200% in 2025
- Supreme Court: Hostel Rooms for Students Qualify as Residential Dwellings, GST Exempt
