Hi there, anubhav868-gmail.
Even if you set the place of supply under other territory as equals to outside India, there's still tax under GST1. This is because they have provisions in their GST law. With this, the purpose of the place of supply is to determine the place of supply of goods in domestic transactions. Accordingly, the following are the rules to determine the place of supply of goods other than imports or exports.
As per the GST definition, the liability to pay taxes arises at the time and place of supply. Both time and place of supply depend upon whether the supply is intra-state or inter-state. Therefore, to guide the taxation under GST, the law lays down provisions regarding the nature of supply, place of supply of goods, place of supply of services, time of supply, and value of supply. So, to understand each of these, it’s first important to know what is a place of supply.
To determine the tax liability under GST, one needs to check for not only the goods or services that are chargeable to tax. You'll need to look into the goods or services that are exempt from tax. Thus, the taxpayers need to understand not only the provisions regarding exemptions but also their implications to avoid its wrong application. So, before jumping to the list of GST exempted services, let’s first define what is an exempt supply under GST. To see more details, you can click this article: GST Exemption List For Services: A Detailed Guide.
Please refer to this article to view information about the component reports in the GSTR1: Know more about GSTR-1 Summary and Detailed reports in QuickBooks.
Post a reply below if you have other concerns or questions about taxes in your QBO account. I’m more than happy to help you out again. Have a good day ahead.
