MANAGEMENT

Detailed explanation-1: -Value of Supply = (Monetary Consideration + In-kind Consideration)-GST on Total Consideration Note: The value of supply includes cess, billable expenses, subsidies, penalties, and all taxes except GST (and any other charges that may or may not be included in the price of the goods and services supplied).

Detailed explanation-2: -(a) be the open market value of the goods being supplied, or at the option of the supplier, be ninety percent.

Detailed explanation-3: -Rule 4 – Effective date for composition levy (1) The option to pay tax under section 10 shall be effective from the beginning of the financial year, where the intimation is filed under sub-rule (3) of rule 3 and the appointed day where the intimation is filed under sub-rule (1) of the said rule.

Detailed explanation-4: -There are Four GST types namely Integrated Goods and Services Tax (IGST), State Goods and Services Tax (SGST), Central Goods and Services Tax (CGST), and Union Territory Goods and Services Tax (UTGST). The taxation rate under each of them is different.