The invoice for the sale shall add Rs.18000 along with the total value of the product. However, the GST rate and tax amount shall divide equally into two heads namely SGST and CGST.įor example, if an electronics store in Maharashtra sells a laptop worth Rs.1,00,000 to a customer in Karnataka and the sale shall attract a GST rate of 18%. In the case of intrastate supply, the GST rate for the goods or services would remain the same. Intrastate supply attracts both Central Goods and Services Tax (CGST) and State Goods and Services Tax (SGST). If you need a prefix for a word, you will choose inter. Inter can be used as a prefix for other words, but inner can’t. Inner refers to something that is more interior or inside while inter means between or put something into the ground.
ONYER VS INYRA FULL
Under GST, interstate supply attracts Integrated Goods and Services Tax or IGST. The English language is full of confusing words and inner and inter are two of those words. GST Interstate vs Intrastate Supply GST Interstate vs Intrastate Supply As any supply of goods or services to a Special Economic Zone developer or Special Economic Zone unit is classified as interstate supply. However, the supply of goods or services to a Special Economic Zone developer or Special Economic Zone unit situated within the same state would not be intrastate supply. Under GST, the supply of goods or services within the same state or Union territory is called an intrastate supply. Also, the supply of goods or services to or by a Special Economic Zone developer or a Special Economic Zone unit is classified as interstate supply.Ĭlick here to read on GST Refund – Supply to SEZ What is Intrastate Supply? In addition to the above, the supply of goods imported into India, till they cross the customs station is also classified as interstate supply. The GST Act defines interstate supply as when the location of the supplier and the place of supply for the customer are in: So inter always implies that something goes through at least two places. Under GST, the supply of goods or services from one state to another would be called interstate supply. Inter means between two or more things, people, or groups Intra means inside or within one thing, person, or group An easy way to remember this is that inter sounds like enter, and to enter, you have to first be somewhere else. In this article, we look at the definition of interstate supply and intrastate supply as per the GST Act. However, words that begin with intra indicate something inside of a group or within an object. The basic meanings of these words are: inter - between or among intra - within or inside Words that begin with inter describe connections between objects, groups or ideas. Interstate supply attracts IGST, while intrastate supply attracts CGST and SGST. Even though inter and intra are both Latin prefixes, they have almost opposite definitions. In GST, the terms interstate and intrastate have tremendous significance in the determination of IGST, CGST or SGST. Learn » GST in India » GST Interstate vs Intrastate Supply Meaning GST Interstate vs Intrastate Supply Meaning
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