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Consideration for Supply - GST - Levy and Collection - GST

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..... Consideration for Supply Consideration in relation to Supply of Goods & Services Consideration has specifically been defined in relation to the supply of goods or services or both in the sec. 2(31) CGST Act, 2017. (a) any payment made or to be made, whether in money or otherwise, in respect of, in response to, or for the inducement of, (b) the monetary value of any act or forbearance, in respect of, in response to, or for the inducement of, Any subsidy given by the Central Government or a St .....

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Consideration for Supply - GST - Levy and Collection - GST

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..... mined for old mobile phone. Here money equivalent value of old mobile phone agreed between supplier and recipient will also be a part of consideration of new mobile phone on which GST will be charged by Supplier. Similarly, the developer or the builder, who is constructing apartments in exchange of land from the landowner, would be subject to the levy of tax under the GST law. given the fact that supply includes barter. Term "monetary value of any act" aims to cover provision of servic .....

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Consideration for Supply - GST - Levy and Collection - GST

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