How to differentiate Inward supply with Non-taxable supply?
What is Inward supply? How does Non-taxable supply work under GST regime? What are the difference between Inward supply and Non-taxable supply?
Under GST system, the following information explains about Inward supply and Non-taxable supply.
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. “Non-taxable supply” means a supply of goods or services or both which is not livable to tax under this Act or under the Integrated Goods and Services Tax Act. A transaction must be a 'supply' as defined under the GST law, to qualify as a non-taxable supply under the GST law.
The details about Inward supply and Non-taxable supply 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 Non-taxable supply, 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 Non-taxable supply separately below. You may kindly read the below links to know more about Non-taxable supply and Inward supply.
Meaning of term Inward supply under GST
Term non-taxable supply under GST
The above information easily explains about Non-taxable supply and Inward supply.
I hope, you have satisfied with the difference between Inward supply and Non-taxable supply explained above. Do you have different thought on difference between Non-taxable supply and Inward supply?
Share below your thoughts about Inward supply and Non-taxable supply
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