Posted on 10 June 2022
Meaning of GST Refund of Interest
The details about GST Refund of Interest are explained here.
GST Refund of Interest:
“Refund” includes refund of tax paid on zero-rated supplies of goods or services or both or on inputs or input services used in making such zero-rated supplies, or refund of tax on the supply of goods regarded as deemed exports, or refund of unutilised input tax credit due to a higher tax rate on the input than the output.
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Posted on 10 June 2022
Meaning of term Zero rated supply under GST
This post explains about Zero rated supply under GST.
Zero rated supplies:
“Zero rated supply” means any of the following supplies of goods or services or both, namely:––
Export of goods or services or both; or
Supply of goods or services or both to a Special Economic Zone developer or a Special Economic Zone unit.
Subject to the provisions of sub-section (5) of section
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Posted on 10 June 2022
Zero rate on exports under GST
The details about Zero rate on exports under GST are explained here.
Zero rate on exports:
GST would not be charged on goods or services exported from India. In case, the supply of goods or supply of services qualifies as export out of India as per the place of supply provisions, the transaction would be zero rated. The supplier would be allowed to export the goods or services without charging any tax, but can avail the CGST/SGST and
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Posted on 10 June 2022
Meaning of Wholesale trade and Impact of GST on Whole Sale Traders
The details about Wholesale trade and Impact of GST on Whole Sale Traders are explained here.
Wholesale trade
Wholesale trade is a form of trade in which goods are purchased and stored in large quantities and sold, in batches of a designated quantity, to resellers, professional users or groups, but not to final consumers.
Definition
Wholesale trade consists of purchasing, storing and selling
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