How to differentiate foreign diplomatic mission with Indirect Tax Turnover Approach?

Posted on 11 June 2022 Category : GST terms difference

Difference between Indirect Tax Turnover Approach and Foreign diplomatic mission under GST terms

What is foreign diplomatic mission? How does Indirect Tax Turnover Approach work under GST regime? What are the difference between foreign diplomatic mission and Indirect Tax Turnover Approach?

Under GST system, the following information explains about foreign diplomatic mission and Indirect Tax Turnover Approach.

Indirect Tax Turnover Approach means this approach, presented by the National Institute of Public Finance and Policy, estimates the base in a three step process. First, it estimates the goods base at the level of the States. This base is estimated by converting data on actual collections and statutory rates into a goods base. As per GST terms, Foreign diplomatic mission means a diplomatic mission or foreign mission is a group of people from one state or an organization present in another state to represent the sending state/organization officially in the receiving state.

The details about foreign diplomatic mission and Indirect Tax Turnover Approach with simple language from GST terms have been mentioned in this web blog separately. I suggest you to read these articles on foreign diplomatic mission and Indirect Tax Turnover Approach, so as to enable you to have a clear idea on these GST terms.

For your immediate reference, we give below web links on foreign diplomatic mission and Indirect Tax Turnover Approach separately below. You may kindly read the below links to know more about Indirect Tax Turnover Approach and Foreign diplomatic mission.

Meaning of foreign diplomatic mission

Meaning of Indirect Tax Turnover Approach under GST

The above information easily explains about Indirect Tax Turnover Approach and Foreign diplomatic mission.

I hope, you have satisfied with the difference between foreign diplomatic mission and Indirect Tax Turnover Approach explained above. Do you have different thought on difference between Indirect Tax Turnover Approach and Foreign diplomatic mission?

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