mixed supply means two or more individual supplies of goods or services, or any combination thereof, made in conjunction with each other by a taxable person for a single price where such supply does not constitute a composite supply.
mixed supply means two or more individual supplies of goods or services, or any combination thereof, made in conjunction with each other by a taxable person for a single price where such supply does not constitute a composite supply.Illustration.- A supply of a package consisting of canned foods, sweets, chocolates, cakes, dry fruits, aerated drinks and fruit juices when supplied for a single price is a mixed supply. Each of these items can be supplied separately and is not dependent on any other. It shall not be a mixed supply if these items are supplied separately;
mixed supply means two or more individual supplies of goods or services, or any combination thereof, made in conjunction with
More Definitions of mixed supply
mixed supply means two or more individual supplies of goods or services, or any combination thereof, made in conjunction with each other by a taxable person for a single price where such supply does not constitute a composite supply. Illustration: A supply of a package consisting of canned foods, sweets, chocolates; cakes, dry fruits, aerated drinks and fruit juices when supplied for a single price is a mixed supply, Each of these items can be supplied separately and is not dependent on any other. It shall not be a mixed supply if these items are supplied separately.' The contracts involving supply of goods and services in relation to movable property would also fall in the definition of composite contracts.
mixed supply means two or more individual supplies of taxable goods or services,
mixed supply means two or
mixed supply means• two or more individual supplies,• made in conjunction with each other by a taxable person• for a single price• where such supply does not constitute a composite supply. CA Vasant Bhat 17Combo packsMixed supply or composite supply? • The most important aspects in composite supply are ‘naturally bundled’ and ‘principal supply’• Principal supply gives the essential character to the supply. Bundling of supplies into a single composite supply must not alter the essential character of the principal supply• A natural bundling is a Composite Supply and an artificial bundling is Mixed Supply.• In mixed supply identification of principal supply an improbable task. • In a mixed supply, supply of one good or service does not necessitate the supply of another good or service.CA Vasant Bhat 18Combo packsMixed supply or composite supply? • Buy ‘toothpaste’ and Get ‘toothbrush’ free. • Dental kit (Toothpaste + Toothbrush). • Package containing crayons, paints, brushes and drawing book. • Combo pack of Popcorn and Coke. • Toys with battery. • Laptop with bag. CA Vasant Bhat 19Movement of GoodsHub and Spoke model after introduction of GSTFactory – Mother warehouse – Stockist – Retailers - Consumers• Savings on multiple warehouses• Faster movement of goods due to removal of border check posts /manual toll. (Avg 400km-450km)• Eway bill- Gain or Bane?• IRN• GTA Vs. GTO• Place of supply: Supply to a regd person- Location of such person.Supply to a URP-Location where goods are handedover for transportation.
mixed supply. “mixed supply” means two or more individual supplies of goods or services, or any combination thereof, made in conjunction with each other by a taxable person for a single price where such supply does not constitute a composite supply Illustration.— A supply of a package consisting of canned foods, sweets, chocolates, cakes, dry fruits, aerated drinks and fruit juices when supplied for a single price is a mixed supply. Each of these items can be supplied separately and is not dependent on any other. It shall not be a mixed supply if these items are supplied separately; Contract Management- GST purview ⮚ “Works contract” means a contract for building, construction, fabrication, completion, erection, installation, fitting out, improvement, modification, repair, maintenance, renovation, alteration or commissioning of any immovable property wherein transfer of property in goods (whether as goods or in some other form) is involved in the execution of such contract; (refer Clause 119 of Sec. 2 of CGST Act, 2017) Contract Management-GST purview ⮚ Nature of supply ⮚ Specific provisions in case of continuous supply of goods and services ⮚ Determination of place of supply and Applicability of correct taxes ⮚ Valuation - transaction value/additional consideration/free supplies ⮚ GST rate ⮚ Input tax credit ⮚ Conditions for availment of ITC- proper documentation and payment by supplier Terms and conditions of contract- Drafting is skill Supplier’s perspective:- ⮚ Place of delivery ⮚ Discount policies ⮚ Mode of transport ⮚ Payment terms ⮚ Additional benefits ⮚ Documentations- tax invoice and e-way xxxx ⮚ GST impact on non-fulfillment of conditions or terms of contracts- Tolerance an act, agreeing to do an act or refrain from doing an act ⮚ Termination of contract ⮚ Escalation clause. Terms and conditions of contract- Drafting is skill Recipient’s perspective:- ⮚ Place and mode Delivery of goods ⮚ Time limit for completion of services ⮚ Terms for acceptance or rejection ⮚ Formats of tax invoices or other ITC document- ⮚ Matching concept. ⮚ GSTN/GST rating of vendor-correctness of taxes ⮚ Valuation /reimbursement of expenses/free supply Anti Profiteering ⮚ Reduction in Tax rates. ( more important in contract value inclusive of taxes). ⮚ Scope of ITC is extended. - Additional ITC in case of following:- ✓ Interstate purchases of goods (CST) ✓ ITC on inputs used in execution of works contract. ✓ Entry Tax, Octroi, Local Body Tax (LBT) ✓ Non reversal of proportionate Cenvat ...
mixed supply means two or more individual supplies of goods or services, or any combination thereof, made in conjunction with each other by a taxable person for a single price where such supply does not constitute a composite supply;Illustration: A supply of a package consisting of canned foods, sweets, chocolates, cakes, dry fruits, aerated drink and fruit juices when supplied for a single price is a mixed supply. Each of these items can be supplied separately and is not dependent on any other. It shall not be a mixed supply if these items are supplied separately.Author comments: The term mixed supply is used at in the definition of ‘supply’ [section 3 (5)]. In this regard, the tax liability on a composite or a mixed supply shall be determined in the following manner:
mixed supply means two or more individ ual supplies of goods or services, or any combina tion the reof, made in conjunction with eac h other by a taxable person for a single pr ice where such supp ly does not constitute a compos ite supply.