The value of supply under GST rules, rates, and compliance

The value of supply under GST rules, rates, and compliance

Blog Article

The value of supply under GST rules, rates, and compliance is a crucial aspect of India's Goods and Services Tax (GST) framework. It determines the taxable amount on which GST is levied, ensuring uniform taxation across transactions. As per GST rules, the value of supply includes the price paid or payable for goods or services, along with additional charges like freight, packaging, and taxes (excluding GST). Businesses must comply with GST valuation rules to avoid penalties and ensure accurate tax calculations. Understanding GST rates and compliance requirements helps in seamless tax filing and adherence to legal obligations.