In this article let us see the important definitions and explanations for certain words in the GST law from the definition clause and also from the FAQ released by the Government.
CUP (Comparable Uncontrolled Price Method-Applicability : When similar an uncontrolled transaction is available. Where all the term of contract are identical for both, domestic and uncontrolled transaction or otherwise the differences are quantifiable and can be adjusted
Actual demonetization process- Step 1 : Convert all the black money to white by charging people a specific rate of tax, and depositing all of it in banks. (Leads to huge deposits in banks)
