Composite supply Means

what is composite supply

 

composite supply

The details about composite supply are explained here. 

composite supply” means a supply made by a taxable person to  a  recipient  consisting of two or more taxable supplies of goods or services or both, or any combination thereof, which are naturally bundled and supplied in conjunction with each other in the ordinary course of business, one of which is a principal  supply;

Illustration: Where goods are packed and transported with insurance, the supply of goods, packing materials, transport and insurance is a composite supply and supply of goods is a principal supply.

Composite supply

The following composite supplies shall be treated as a supply of services, namely:—

         i.            Works contract as defined in clause (119) of section 2;  and

       ii.            Supply, by way of or as part of any service or in any other manner whatsoever, of goods, being food or any other article for human consumption or any drink (other than alcoholic liquor for human consumption), where such supply or service is for cash, deferred payment or other valuable consideration.

Tax liability on composite and mixed supplies

The tax liability on a composite or a mixed supply shall be determined in the following manner, namely: —

         i.            a composite supply comprising two or more supplies, one of which is a principal supply, shall be treated as a supply of such principal supply;  and

       ii.            a mixed supply comprising two or more supplies shall be treated as a supply of  that particular supply which attracts the highest rate of

The information provided here is about composite supply.  If you would you like to add more information about composite supply, share below your thoughts.

 

 

 

 

 

Learn Exports Imports Free, Click here

Click here to know GST rate of your goods or service

Cancellation of GST Registration in India, FAQ

Can a person without GST registration claim ITC?

 Why separate Registration of GST in each state in India, for each business.

 Latest date to file GST registration in India

Procedures to obtain GST registration for non-resident taxable person

Is digital signature option available under registration of GST in India?

 Advantages of GST registration in India

Who has to obtain GST registration in India?

Does GST registration number of my firm change time to time in India?

 Is GST registration required for a public sector undertaking?

Meaning of term bond under GST

What is Registered Person under GST

Term Refunds Mechanism under GST

What is Refund to International Tourist under GST

Term Refund processing backend system under GST

What is Recovery by sale of movable or immovable property under GST

What is entry tax in lieu of octroi (ETILOO) under GST

Term RBI on T+1 basis under GST

Term Provisional Identification Number(PID)under GST

Term provisional assessment under GST

 Procedures and documentation on Triangular shipments

Procedures for Re-imports

 Procedures to claim brand rate of draw back

 Procedures to file IGM (Import General Manifest)

 Procedures under Re-exports

 Re warehousing procedures under STP and EOU units.

 Register with Export Promotion Council

Risks and solutions in export business

RISKS NOT COVERED BY MARINE INSURANCE

Rummaging

Travelers to India under import duty exemption, Frequently Asked Questions Part 2

How to import to India from Colombia?

How to export from India to Colombia?

Documents required for Export from Colombia

Customs procedures for Colombia Export

How to export from Chad?

How to Import to Chad?

How to export from India to Chad?

Documents required for Export from Chad

Customs procedures for Chad Export

Registration required to export from Chad

Documents needed for Chad import

Import Customs processes in Chad


Discussion Forum

You can also share your thoughts about this article.
Any one can answer on question posted by Readers