Inward supply with Net value of taxable supplies?

Posted on 11 June 2022 Category : GST terms difference

Difference between Net value of taxable supplies and Inward supply under GST terms

What is Inward supply? How does Net value of taxable supplies work under GST regime? What are the difference between Inward supply and Net value of taxable supplies?

Under GST system, the following information explains about Inward supply and Net value of taxable supplies.

As per GST terms “Inward supply” in relation to a person, shall mean receipt of goods or services or both whether by purchase, acquisition or any other means with or without consideration. “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.

The details about Inward supply and Net value of taxable supplies with simple language from GST terms have been mentioned in this web blog separately. I suggest you to read these articles on Inward supply and Net value of taxable supplies, so as to enable you to have a clear idea on these GST terms.

For your immediate reference, we give below web links on Inward supply and Net value of taxable supplies separately below. You may kindly read the below links to know more about Net value of taxable supplies and Inward supply.

Meaning of term Inward supply under GST

Term Net value of taxable supplies under GST

The above information easily explains about Net value of taxable supplies and Inward supply.

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