How to differentiate Direct Tax Turnover Approach with Input Service Distributor?
What is Direct Tax Turnover Approach? How does Input Service Distributor work under GST regime? What are the difference between Direct Tax Turnover Approach and Input Service Distributor?
Under GST system, the following information explains about Direct Tax Turnover Approach and Input Service Distributor.
As per GST terms, Direct Tax Turnover Approach means a third approach—which was described in the Thirteenth Finance Commission--is based on using income tax data which are available for about 94.3 lakh registered entities (including companies, partnerships, and proprietorships but not charitable organizations). The concept of Input Service Distributor (ISD) is provided in GST too. It is defined as 'an office of supplier of goods and/or services, which has received input services under the cover of tax invoice, and is allowed to distribute the said tax credit to the supplier of goods and/or services registered under the same PAN'.
The details about Direct Tax Turnover Approach and Input Service Distributor with simple language from GST terms have been mentioned in this web blog separately. I suggest you to read these articles on Direct Tax Turnover Approach and Input Service Distributor, so as to enable you to have a clear idea on these GST terms.
For your immediate reference, we give below web links on Direct Tax Turnover Approach and Input Service Distributor separately below. You may kindly read the below links to know more about Input Service Distributor and Direct Tax Turnover Approach.
What is Direct Tax Turnover Approach under GST
Input Service Distributor under GST
The above information easily explains about Input Service Distributor and Direct Tax Turnover Approach.
I hope, you have satisfied with the difference between Direct Tax Turnover Approach and Input Service Distributor explained above. Do you have different thought on difference between Input Service Distributor and Direct Tax Turnover Approach?
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