- Output tax is GST charged and collected on sales or supplies of goods and services
- In short it is business chargse on sale of output
Takeaway:-
- Understand different types of supply so that you know what output tax to imposed on customer.
- Understand what is Standard-Rated Supply
- Understand what is Zero-Rated Supply
- Understand what is Exempt Supply
- Understand what is Out-of-Scope Supply
- Understand transaction format to complies in order to issue Tax invoice
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