GST – when, where, who and how much?
- Identifying the place of supply of goods or services
- Goods and services are taxed at the place where they are consumed and not at their place of origin. In this module, we shall explain how to identify the place of consumption of goods and services by interpreting the provisions relating to the place of supply.
- Determining the time of supply of goods or services
- Determining the time of supply is essential for the payment of tax. It is also important, as other provisions relating to valuation and rate of tax will apply based on such date. In this module, we shall explain how to determine the time of supply of goods and that of services.
- Computing the value of supply
- Tax is payable as a percentage of the value of the supply of goods or services. Therefore, it is important to calculate the value on which tax is to be paid. In this module, we shall explain the rules to determine the value of a supply and the associated inclusions and exclusions. We shall also discuss the treatment of free-of-cost supplies and discounts. We shall then examine the rules to be applied for the valuation of transaction between related parties.
- Discharging tax under reverse charge
- Generally, GST is payable by the supplier of goods or services. However, in specific cases, this liability is on the recipient under the reverse charge mechanism. In this module, we shall appreciate the purpose of the introduction of the reverse charge mechanism and identify those transactions where GST is required to be paid under the reverse charge.