Taxable event under Goods and Services Tax

What is the taxable event under GST

Asked on October 18, 2016 in Supply.
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  • 2 Answer(s)

    Supply of goods and/or services. CGST & SGST will be levied on intra-state supplies while IGST will be levied on inter-state supplies. The charging section is section 7 (1) of CGST/SGST Act and Section 4(1) of the IGST Act.

    Answered on October 18, 2016.
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    The taxable event under GST shall be the supply of goods and / or services made for consideration in the course or furtherance of business. The taxable events under the existing indirect tax laws such as manufacture, sale, or provision of services shall stand subsumed in the taxable event known as ‘supply’.

    Answered on October 18, 2016.
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