I want to know how this phrase "the amount of tax which shall form part of the price at which such supply is made." from the sec 33 is to be understood.
Could anyone help me to clarify this.
Menu
About interpretation of a phrase sec 33
Replies (1)
Section 33 - Amount of tax to be indicated in tax invoice and other documents.
Notwithstanding anything contained in this Act or any other law for the time being in force, where any supply is made for a consideration, every person who is liable to pay tax for such supply shall prominently indicate in all documents relating to assessment, tax invoice and other like documents, the amount of tax which shall form part of the price at which such supply is made.
____________
This provision requires the registered person to mention tax component separately in the tax invoice..
For example,
Taxable Value ₹500
CGST @ 9% ₹45
SGST @ 9% ₹45
__________________
Total Value ₹590
Notwithstanding anything contained in this Act or any other law for the time being in force, where any supply is made for a consideration, every person who is liable to pay tax for such supply shall prominently indicate in all documents relating to assessment, tax invoice and other like documents, the amount of tax which shall form part of the price at which such supply is made.
____________
This provision requires the registered person to mention tax component separately in the tax invoice..
For example,
Taxable Value ₹500
CGST @ 9% ₹45
SGST @ 9% ₹45
__________________
Total Value ₹590
Recent Topic
- Client consent under DPDPA: Is client sharing PAN,
- TDS MISMATCH
- Rebate on other income even if LTCG is above my 12
- Need CA to certify shareholding pattern.
- Ltcg savings
- Please share the roc and income tax compliance fo
- Proprietor have 2 business. One is registered unde
- ITR-4 – Gross Receipts or Turnover for Secti
- Unrelated entries in AIS and Form 26as
- Payment to foreign national
Related Topics
CAclubindia
