How to differentiate Reverse Charge with Value of supply ?
Difference between Value of supply and Reverse Charge under GST terms
What is Reverse Charge? How does Value of supply work under GST regime? What are the difference between Reverse Charge and Value of supply?
Under GST system, the following information explains about Reverse Charge and Value of supply.
As per GST terms, “Reverse charge” means the liability to pay tax by the recipient of supply of goods or services or both instead of the supplier of such goods or services or both under sub- section (3) or sub-section (4) of section 9, or under sub-section (3) or sub-section (4) of section 5 of the Integrated Goods and Services Tax Act. The value of a supply of goods or services or both shall be the transaction value, which is the price actually paid or payable for the said supply of goods or services or both where the supplier and the recipient of the supply are not related and the price is the sole consideration for the supply.
The details about Reverse Charge and Value of supply with simple language from GST terms have been mentioned in this web blog separately. We suggest you to read these articles on Reverse Charge and Value of 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 Reverse Charge and Value of supply separately below. You may kindly read the below links to know more about Value of supply and Reverse Charge.
Reverse Charge Mechanism under GST
value of supply under GST
The above information easily explains about Value of supply and Reverse Charge.
We hope, you have satisfied with the difference between Reverse Charge and Value of supply explained above. Do you have different thought on difference between Value of supply and Reverse Charge?
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