Are you curious to know what is mixed supply? You have come to the right place as I am going to tell you everything about mixed supply in a very simple explanation. Without further discussion let’s begin to know what is mixed supply?
As businesses grow and expand, they often deal with a variety of products and services. Understanding the concept of mixed supply becomes essential for such businesses to comply with tax laws and regulations.
In this article, we’ll explain what mixed supply is and how it affects businesses.
What Is Mixed Supply?
Mixed supply is a term used to describe a supply made up of two or more individual supplies of goods or services, or any combination of goods and services. A mixed supply is created when two or more items are supplied together as a single package, with a single price.
For example, a restaurant offers a lunch combo meal that includes a sandwich, fries, and a drink for a fixed price. This is a mixed supply because it includes several individual supplies of goods (sandwiches, fries, drink) combined into one package.
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How Does Mixed Supply Affect Businesses?
When a business makes a mixed supply, it can be subject to different tax rates for each individual supply. This is because different goods and services may have different tax rates applied to them.
To calculate the tax on a mixed supply, the business must determine the tax rate for each individual supply and then calculate the tax based on the value of that supply.
Additionally, if a business makes a mixed supply, it must ensure that it complies with all applicable tax laws and regulations. This includes proper invoicing and accounting for the individual supplies within the mixed supply.
Conclusion
In conclusion, mixed supply is a term used to describe a supply made up of two or more individual supplies of goods or services, or any combination of goods and services. It is important for businesses to understand the concept of mixed supply and comply with applicable tax laws and regulations.
By properly invoicing and accounting for the individual supplies within a mixed supply, businesses can avoid potential penalties and ensure compliance with tax laws.
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FAQ
What Is Mixed Supply With Example?
Under GST, a mixed supply will have the tax rate of the item which has the highest rate of tax. For example- A Diwali gift box consisting of canned foods, sweets, chocolates, cakes, dry fruits, aerated drink,s, and fruit juices supplied for a single price is a mixed supply. All are also sold separately.
What Are Mixed Supply And Composite Supply?
A mixed supply is a supply that includes both taxable and non-taxable goods. A mixed supply is subject to GST if the value of taxable goods exceeds the value of non-taxable goods. Mixed supply is the sale of goods and services together, while composite supply is a single service rendered to a customer.
What Is A Mixed Supply Under Section?
Mixed supply has been defined under section 2(74) of the CGST Act to mean 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.
What Is Mixed Supply In Gst In Hindi?
Mixed Supply Under GST –
यदि कोई दुकानदार रेफ्रिजरेटर के साथ पानी की बॉटल्स फ्री देता है, तो यह सप्लाई नेचुरल bundled नहीं है, क्योकि रेफ्रिजरेटर और पानी की बॉटल्स को अलग – अलग भी सप्लाई किया जा सकता है।
I Have Covered All The Following Queries And Topics In The Above Article
What Is Mixed Supply In Gst
What Is Composite Supply And Mixed Supply
What Is Mixed Supply And Composite Supply
What Is Composite And Mixed Supply
What Is Mixed Supply With Example
What Is A Mixed Supply
What Is Mixed Supply In Gst
Example Of Mixed Supply In Gst
What Is Composite Supply
Difference Between Composite And Mixed Supply
Difference Between Composite Supply And Mixed Supply In Tabular Form
Composite And Mixed Supply Under Gst
Principal Supply Under Gst
Composite Supply Gst Rate
What Is Mixed Supply
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What is mixed supply?
