Remission of tax not available where goods are lost or destroyed before occurrence of supply under GST. Remission of tax applies only where a taxable event has occurred; under GST the levy arises on supply of goods. If goods are lost or destroyed before ... Summary
Remission of tax not available where goods are lost or destroyed before occurrence of supply under GST.
Remission of tax applies only where a taxable event has occurred; under GST the levy arises on supply of goods. If goods are lost or destroyed before supply, the taxable event does not arise and there is no tax liability to remit.
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