GST is said to be levied on supply in legal words taxable event is supply thereby dispensing with the existing different taxable events for different levies of duties/taxes like Manufacture for levy of excise duty, ‘sale’ for levy of VAT/sales tax etc., Therefore understanding of the expression ‘supply’ is highly important.
What is the present amendment? Upto 29.02.2016 only concrete mix manufactured and used at site was exempted from excise duty. However from 01.03.2016 the exemption is also extended to RMC manufactured and used at same site.
