How to differentiate Net value of taxable supplies with Self Assessed Tax?
What is Net value of taxable supplies? How does Self Assessed Tax work under GST regime? What are the difference between Net value of taxable supplies and Self Assessed Tax?
Under GST system, the following information explains about Net value of taxable supplies and Self Assessed Tax.
As per GST terms “net value of taxable supplies” means the aggregate value of taxable supplies of goods or services, other than services notified under Section 9(5), made during any month by all registered taxable persons through the operator reduced by the aggregate value of taxable supplies returned to the suppliers during the said month. Self GST assessment is available to every registered taxable person to assess the tax payable by him for any tax period.
The details about Net value of taxable supplies and Self Assessed Tax with simple language from GST terms have been mentioned in this web blog separately. I suggest you to read these articles on Net value of taxable supplies and Self Assessed Tax, so as to enable you to have a clear idea on these GST terms.
For your immediate reference, we give below web links on Net value of taxable supplies and Self Assessed Tax separately below. You may kindly read the below links to know more about Self Assessed Tax and Net value of taxable supplies.
Term Net value of taxable supplies under GST
Meaning of term Self Assessed Tax under GST
The above information easily explains about Self Assessed Tax and Net value of taxable supplies.
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