SUPPLY OF GOODS & SERVICES
Supply of goods & services is the taxable event in GST.
Supply requires consideration.
However, in some cases specified supply without consideration will be subject to GST.
Supply covers supply MADE or AGREED to be made in the course of furtherance of business.
Covers Advanced Receipt also.
PLACE OF SUPPLY OF GOODS –
If any goods are sent on the direction of any Third Person, then it is to be deemed that the third person has received goods.
If goods are assembled at site, then the site will be the place of goods.
Sale by transfer of documents, then the place of customer is Place of supply.
LOCATION OF SUPPLIER OR RECEIPENT OF SERVICES –
Normally where registration is obtained will be the location of supplier or recipient.
Temporary place cannot be location of supplier.
A fixed Establishment from where services are provided or received will be location of supplier.
If more than one establishment, then the most relevant one.
Registered office of company will be location of supplier.
Though there are some exceptions also.
E – ledgers –
It is a statement of CASH & ITC.
And every tax payer have an “ELECTRONIC TAX LIABLITY REGISTER “
Once a taxpayer is registered on GSTN it will be automatically opened & dispayed on his dashboard at all times.
Tax liability Register will reflects TOTAL TAX LIABLITY after netting for a month.
“ CASH LEDGERS “
Reflects all deposits made in CASH & TDS/TCS made on account of taxpayers.
The information will be reflected on “ Real time basis ”.
This ledger can be used for making any payment of account of GST.
Whereas, ITC Ledger – ( only tax can be paid no int , penalty , fee etc )