Value of supply inclusive of tax requires computing the embedded tax portion by proportioning gross price against applicable GST rates. Where the value of supply is inclusive of taxes, the tax component is determined by applying the applicable tax rate (IGST, or as applicable CGST, SGST or UTGST) to the value inclusive of taxes and dividing by the aggregate factor that adds the percentage basis to one hundred, thereby isolating the tax element from the all-inclusive price.
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Value of supply inclusive of tax requires computing the embedded tax portion by proportioning gross price against applicable GST rates.
Where the value of supply is inclusive of taxes, the tax component is determined by applying the applicable tax rate (IGST, or as applicable CGST, SGST or UTGST) to the value inclusive of taxes and dividing by the aggregate factor that adds the percentage basis to one hundred, thereby isolating the tax element from the all-inclusive price.
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