HMCS Vancouver Pre-Deployment Brief - May 2024 (Web Version).pptx
GST PPT - 5.pptx
1.
2.
3. Under GST, taxable event is very important,
because only after the taxable event occurs,
taxability is generated under GST.
4. Under GST, supply of Goods and Services is
considered a taxable event, because the tax
liability will arise only, when Goods or
Services will be supplied.
5. Determination of taxable events is important
under GST.
Creation of tax-liability is possible only after
the event occurs.
Event occurs at special time.
6. Taxation can be on the date after the date of
occurrence of events.
All GST related Acts considers supply of
goods and services as taxable event.
9. Supply of anything other than goods or
services does not attract GST.
Supply should be made for a consideration.
Supply is a taxable event.
10. There can not be mere supply without
application of GST.
Supply should be made in the course or
furtherance of business.
Supply should be made by a taxable person.
11. Supply should be made within the taxable
territory.
Supply includes import of services.
Without supplier, there can be no supply.
12. No one can supply to himself.
Something need to be done for supply.
Import of goods are not included under
supply.
13. Intra-state Supply
Inter-state Supply
Supply with consideration
Supply without consideration
14. In lieu of supply of goods and services,
something is paid to the supplier by
recipient. It is called the Consideration of
Supply.
15. Consideration is defined as any payment to
be made or monetary value of any act:
(i) whether in money or otherwise
(ii) the supply of goods and services or both
16. (iii) whether by the recipient or by any other
person
(iv) but shall not include any subsidy given by
the Central or State Government
17. Supplier of Goods, is called seller in general.
Supplier of Services is called service provider
in general.
Supplier also includes his agent.
18. Supplier is important under GST, because this
person collects GST on Goods and Services.
This is usually a registered person.
