Having both taxable and exempt supplies – notable differences vis a vis the current law

Having both taxable and exempt supplies – notable differences vis a vis the current law

GST is a value added tax which provides for adjusting GST paid on purchases and expenses, against GST payable on output supplies. The impending GST implementation is widely considered to have a liberalized credit mechanism which decently ensures free flow of credit across the value chain. However, where a supplier is engaged in making exempt […]