Question 1: What is GST? Answer : GST stands for Goods and Services Tax, which is levied on supply of goods or services. “Supply” is a legal term which has very broad sweep and various types of economic activities are covered by it. For example, sale of goods is a type of supply. Question 2 […]
Category: FAQS
FAQs Drugs & Pharmaceuticals GST
Question 1: Whether formulations cleared have to be assessed to GST under transfer price mechanism or on the basis of MRP printed on them? Answer : The assessment of drugs and formulations under GST would be on the basis of transaction value at each level of supply with end to end ITC chain for neutralizing […]
FAQ on E Commerce Gst
FAQ: E-Commerce Question 1: What is Electronic Commerce ? Answer: Electronic Commerce has been defined in Sec. 2(44) of the CGST Act, 2017 to mean the supply of goods or services or both, including digital products over digital or electronic network. Question 2: Who is an e-commerce operator? Answer: Electronic Commerce Operator has been defined […]