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Mixed Supply and Composite Supply under GST

The Goods and Services Tax (GST) regime in India has brought various concepts to standardize indirect taxation, two of which are Mixed Supply and Composite Supply . These terms might sound similar but have distinct meanings and implications under GST. Correctly categorizing supplies is crucial, as it impacts the applicable tax rates and compliance. Principal Supply: This refers to the good or service which constitutes the predominant element of a composite supply and to which any other goods or services are ancillary. Tax Implications: GST is charged based on the tax rate applicable to the principal supply, irrespective of the tax rates of ancillary items. Define Composite Supply A composite supply consists of two or more goods or services that are naturally bundled and provided together in the usual course of business, with one item being the principal supply. These items are typically sold as a package and are not intended to be offered separately.  Example: A common example of a
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Apply Digital Signature Online

  In today's digital era, the need for secure and authenticated electronic transactions has skyrocketed. Whether you're filing taxes, signing documents, or engaging in online bidding, a Digital Signature Certificate (DSC) has become essential. A DSC is a digital equivalent of a handwritten signature, ensuring the authenticity of electronic documents and protecting data from tampering. For businesses and individuals, obtaining a digital signature certificate online is crucial for streamlining various processes and adhering to legal requirements. In this article, we will walk you through the importance, benefits, and detailed steps of applying for a Digital Signature Certificate online . We will also cover aspects of online DSC registration in Coimbatore, ensuring that all essential information is at your fingertips. What is a Digital Signature Certificate (DSC)? A Digital Signature Certificate (DSC) is an electronic document that proves the identity of the holde

Definition of Supply under GST: Scope explained

  Definition of Supply: Under GST, the term 'supply' is widely defined to include all types of transactions involving goods and services, such as sale, transfer, barter, exchange, licensing, rental, leasing, or disposal. These transactions must be made or intended to be made for a consideration by a person in the course or furtherance of their business. This comprehensive definition is crucial as GST is levied on the supply of goods and services. Key Elements of Supply: 1) Consideration, 2) Business Purpose, 3) Taxable Event. Let’s see in detail 1. Consideration Importance: The existence of consideration is a key factor that determines whether a transaction qualifies as a supply under GST. Even if the payment is deferred or made through a different medium, the transaction is still considered a supply as long as there is a reciprocal relationship between the supplier and the recipient. Exceptions : Certain transactions are considered supp

Who Cannot Apply for Trademarks?

  A trademark is a symbol, word, or phrase legally registered or established by use as representing a company or product. It protects the intellectual property rights of businesses, ensuring that their brand identity is secure and distinct from competitors. While the process of trademark registration offers numerous advantages, not everyone is eligible to apply for a trademark. Those who lack a legitimate interest, such as applicants registering marks for fraudulent purposes or without intent to use them, cannot apply for a trademark. Marks that are identical to existing ones, offensive, deceptive, generic, or misleading about the product’s origin or quality are also ineligible, as are government symbols or marks violating public order or morality. Let’s explore in detail. General Overview of Trademark Eligibility To understand who cannot apply for trademarks, it’s essential first to recognize who can. In general, any individual or legal entity, such as a corporation or partn