VATupdate

Composite & Mixed Supply and composition levy under GST

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

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