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    Central and State GST levied on all transactions

    Posted By : Shiriti / Published on : 26-Apr-2018 12:06 AM / View : 636 / Comment : 1

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    Will there be a Central and State GST levied on all transactions in India?
    Read more on : transactions levied state central

    • GST is levied on the term "Supply".

      Supply means and includes (Under section 2(92) read with section 3) all forms of supply of goods and/or services such as sale, transfer, barter, exchange, licence, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business.

      So, just because of a Transaction taking place between two persons it does not compel to levy GST (Consideration and Business purpose is a must) subject to certain other provisions.

      Further, CGST & SGST cannot be levied in isolation.

      28-07-2018 / 08:19:49 PM
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