The two largest Fast Moving Consumer Goods (FMCG) businesses, Hindustan Unilever Ltd. and Procter & Gamble, have reportedly started paying their GST due in part payment under the cross charge mechanism. According to the CGST Act’s provisions, a tax will be applied to any supply of goods or services made without payment from one person to another. When two company units have different GST registrations, they will be regarded as separate companies or people.
Read More: Taxscan
Latest Posts in "India"
- Auto Industry Urges Quick GST Rate Implementation to Boost Festive Season Sales
- GST Council to Discuss Sin Goods Tax, Rate Structure Overhaul, and Future Cess Plans
- GST Council to Consider Raising Maximum Slab Rate Beyond 40% for Luxury and Sin Goods
- New GST Rates Expected to Be Implemented by September 22, Say Government Sources
- India Set to Implement Immediate GST Cuts; Council Meeting Scheduled for September 3-4
