Economics · Economy

Consider the following statements regarding the Goods and Services Tax (GST) framework in India: Statement 1: For services provided by a banking company to its account holders, the place of supply under Section 13 of the IGST Act is determined as the location of the supplier of services. Statement 2: Any registered person whose aggregate turnover in the preceding financial year exceeds 50 million rupees is mandated to issue e-invoices for all B2B transactions. Statement 3: The concept of 'Pure Agent' allows a supplier to exclude certain costs from the taxable value of supply if they act as an intermediary and receive only the actual reimbursement. Statement 4: In 'Bill To Ship To' transactions involving three parties, the place of supply is deemed to be the principal place of business of the third person as per Section 10(1)(b) of the IGST Act. Statement 5: A registered person who has not filed GSTR-1 for a specified period is blocked from generating E-Way bills under Rule 138E of the CGST Rules. Statement 6: The tax liability on an advance payment received for the supply of services arises at the time of receipt, whereas for the supply of goods, it has been exempted for regular taxpayers. Statement 7: Input Tax Credit on goods lost, stolen, destroyed, written off, or disposed of as free samples is blocked under Section 17(5)(h). Which of the statements given above are correct?