How to differentiate Net value of taxable supplies with Taxable supply?
Difference between Taxable supply and Net value of taxable supplies under GST terms
What is Net value of taxable supplies? How does Taxable supply work under GST regime? What are the difference between Net value of taxable supplies and Taxable supply?
Under GST system, the following information explains about Net value of taxable supplies and Taxable supply.
As per GST terms, “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.
“Taxable supply” means a supply of goods or services or both which is livable to tax under Central Goods and Service Tax Act, 2017
The details about Net value of taxable supplies and Taxable supply with simple language from GST terms have been mentioned in this web blog separately. I suggest you to read these articles on Net value of taxable supplies and 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 Net value of taxable supplies and Taxable supply separately below. You may kindly read the below links to know more about Taxable supply and Net value of taxable supplies.
Term Net value of taxable supplies under GST
What is Taxable supply under GST
The above information easily explains about Taxable supply and Net value of taxable supplies.
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