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The Goods and Services Tax (GST) is a value-added tax implemented in India on 1st July 2017. It is levied on the supply of goods and services across the nation. The GST clause in a sale and purchase agreement is crucial, as it determines the tax liability of the buyer and seller.

The GST clause has become a necessary part of sale and purchase agreements, as it specifies the impact of GST on the transaction. It defines the tax amount that the buyer has to pay on the purchase of goods or services and the tax amount that the seller has to pay on the sale of goods or services.

The GST clause must contain specific details, such as the GST registration number of the buyer and seller, the HSN code of the goods or services sold, and the percentage of GST applicable. Moreover, it should mention if the GST amount is included in the cost of the goods or services or is to be paid separately.

It is crucial to include the GST clause in the sale and purchase agreement as it ensures clarity between the buyer and seller regarding the payment of GST. The GST clause helps avoid any disputes regarding the collection and payment of GST, which can arise if there is no clarity on the tax liability.

Furthermore, the GST clause also helps in calculating the final price of the goods or services and ensures that GST compliance is maintained by both the buyer and seller.

In conclusion, the GST clause in the sale and purchase agreement is vital for businesses to ensure compliance with GST laws. It helps avoid confusion and disputes between the buyer and seller, ensuring transparency in the transaction. Businesses must ensure that the GST clause in their sale and purchase agreement is correctly drafted and includes all the necessary details to avoid any legal consequences.

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