Deemed Exports refer to those transactions in which goods supplied do not leave country, and payment for such supplies is received either in Indian rupees or in free foreign exchange. Supply of goods as specified in Paragraph 7.02 of Foreign trade policy shall be regarded as “Deemed Exports” provided goods are manufactured in India.
Articles contain -1.Background of works contract 2. Tax treatment for works contract under current regime 3. Works contract under GST 4. Taxation of works contract under GST 5. Impact of GST on real estate project
In simple terms Composite supply is one where 2 or more goods or services are supplied together, in a natural bundle and in a normal course of business, provided one of which is a principal supply. The composite supply is taxed at the rate applicable to the principal supply.
