https://www.taxtmi.com/article/detailed?id=7558 GST compliance is a sequential framework: first determine whether a transaction is a Supply under the statutory definition, then classify it as a Good or Service to apply HSN/SAC, rates, invoicing and composition or reverse charge rules. Next establish the Place of supply and Time of supply to allocate destination tax and fix tax liability; apply valuation rules and the correct rate. Compute output tax and deduct eligible Input Tax Credit, subject to documentary, receipt and blocked credit rules, to arrive at the payable tax per IGST/CGST/SGST heads. en-us Sat, 19 Aug 2017 07:57:35 +0530 Sat, 19 Aug 2017 07:57:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7558 GST compliance is a sequential framework: first determine whether a transaction is a Supply under the statutory definition, then classify it as a Good or Service to apply HSN/SAC, rates, invoicing and composition or reverse charge rules. Next establish the Place of supply and Time of supply to allocate destination tax and fix tax liability; apply valuation rules and the correct rate. Compute output tax and deduct eligible Input Tax Credit, subject to documentary, receipt and blocked credit rules, to arrive at the payable tax per IGST/CGST/SGST heads. Articles Goods and Services Tax - GST Sat, 19 Aug 2017 07:57:35 +0530 https://www.taxtmi.com/article/detailed?id=7558