Expenses under GST Archives

GST is a consumption-based tax levied on the value of the taxable supplies. Also any expenses forming part of the value of taxable services supplied or used as input are liable for tax under GST regime. However in case of any expenses incurred as a pure agent are not covered under the ambit of levy and collection of GST. Any input tax i.e. GST paid on the goods or services used as input for providing any taxable supply shall be available as credit to set-off against the payment of GST Liability. Thus any GST paid on the any courier or other expenses could be set-off against your output tax liability of GST. With respect to the GST returns aspects, any such input tax paid by you shall be auto populated in form GSTR-2. The same is needed to be validated by the supplier, and it is reflected under GSTR-3 while assessing the Net (Output less Input) GST liability. About EbizFiling.com : EbizFiling.com is a motivated and progressive concept conceived by like-minded people, which helps small, medium and large businesses to fulfill all compliance requirements of Indian Laws. Get in touch for a free consultation on info@ebizfiling.com or call 9643203209.

Expenses under GST

Know The Types of Office Expenses Under GST & Procedure to Pay The Tax On Same