Indirect Tax Turnover Approach and Casual taxable person

Posted on 11 June 2022 Category : GST terms difference

How to differentiate Casual taxable person with Indirect Tax Turnover Approach?

What is Casual taxable person? How does Indirect Tax Turnover Approach work under GST regime? What are the difference between Casual taxable person and Indirect Tax Turnover Approach?

Under GST system, the following information explains about Casual taxable person and Indirect Tax Turnover Approach.

As per GST terms, Casual taxable person means a person who occasionally undertakes transactions involving supply of goods or services or both in the course or furtherance of business, whether as principal, agent or in any other capacity, in a State or a Union territory where he has no fixed place of business. Indirect Tax Turnover Approach means the 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.

The details about Casual taxable person 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 Casual taxable person 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 Casual taxable person and Indirect Tax Turnover Approach separately below. You may kindly read the below links to know more about Indirect Tax Turnover Approach and Casual taxable person.

Meaning of term Casual taxable person under GST

Meaning of Indirect Tax Turnover Approach under GST

The above information easily explains about Indirect Tax Turnover Approach and Casual taxable person.

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CGST Act Section 9 Levy and collection of GST

CGST Act section 10 composition Levy under GST

CGST Act section 11 power to grant exemption from tax

CGST Act section 12 Time of supply of goods

CGST Act section 13 Time of supply of services

CGST Act Section 14 Change in rate of tax in respect of supply of goods or services

CGST Act Section 15 value of taxable supply under GST

CGST Act section 16 eligibility and conditions for taking input tax credit

CGST Act Section 17 Apportionment of credit and blocked credits