Time of supply of goods as per Model GST Law with Examples!
Posted Date : 11-Oct-2016 , 10:55:36 am | Posted By
Shivashish Karnani
Time of supply of goods as per Model GST Law with Examples! Meaning and Relevance: Time of supply of goods determines time, when the tax (GST) will be levied. GST is levied on supply (i.e. for ex: when the goods are sold, transferred to branch, etc). Now, let us take example of sale of goods. In a ...
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Category : GST |
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Impact of GST on Income Tax Act 1961
Posted Date : 06-Oct-2016 , 11:00:15 pm | Posted By
Akshay Kumar Jain
Impact of GST on Income Tax Act 1961 Introduction
GST is pegged to be one of the biggest game changers for Indian economy, making India one unified common market.
The April 1, 2017, rollout deadline for the new indirect tax regime looks tough but not impossible and both the states a...
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Category : GST |
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0 | Hits : 1944 |
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Highlights of Draft GST Rules & Formats which got approved by the GST Council
Posted Date : 03-Oct-2016 , 10:59:39 am | Posted By
CA Bimal Jain
Dear Professional Colleague, Highlights of Draft GST Rules & Formats which got approved by the GST Council The Government is not leaving any stone unturned to roll out the much awaited indirect tax reform from April 1, 2017. In less than a week after the first meeting of the GST Council (...
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Category : GST |
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GST REGISTRATION RULES DRAFTED
Posted Date : 27-Sep-2016 , 11:41:35 am | Posted By
Manish Baid
The Government on Monday released draft rules for registration, payment and invoices under the goods and services tax (GST) regime. The rules are expected to be finalized in the second meeting of the GST council to be held in New Delhi on Friday.
According to the Draft Rules, A Resident Assessee ...
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Registration under GST
Posted Date : 23-Sep-2016 , 07:29:40 pm | Posted By
Rishi Goyal
Registration under GST
Who is liable to be registered under GST ?
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Every Supplier shall be liable to be registered under GST Act if
his aggregate turnover in a financial year exceeds the THRESHOLD Limit i.e. 9 lak...
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Category : GST |
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GST History & Introduction
Posted Date : 21-Sep-2016 , 11:56:40 pm | Posted By
Rishi Goyal
Hello Friends, This article has divided into two parts i.e. 1. History of GST in India 2. Introduction of GST
History of GST in INDIA
In the Indian System, first time discussion on GST has been started in 2000. In 2000, The Vajpayee Govt. started discussion on GST by setting up an empowered c...
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Category : GST |
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One India, One Tax- GST
Posted Date : 17-Sep-2016 , 11:49:30 am | Posted By
Prafful Lalwani
One India, One Tax Goods and Service Tax (GST)
Introduction GST will be a game changing reform for the Indian economy by creating a common Indian market and reducing the cascading effect of tax on the cost of goods and services. It will have an impact on the tax structure, tax incidence, ta...
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Category : GST |
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Place of Supply under the Model GST Law
Posted Date : 08-Sep-2016 , 04:44:59 pm | Posted By
Vineet Chopra
Place of Supply under the Model GST Law By CMA Vineet Chopra, FCS, ACMA, LLM, PGGDBA-Finance. Mb: 08720-021-021, email: vineet.chopra01@gmail.com
Place of Supply (POS) Determination of POS is an important aspect of GST &n...
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Category : GST |
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Supply of Goods Vs. Supply of Services in GST: Test of Constitutional Validity
Posted Date : 07-Sep-2016 , 12:20:30 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Supply of Goods Vs. Supply of Services in GST: Test of Constitutional Validity Owing to the federal structure of India, where there are two taxing authorities – the Central Government and the State Government(s), the Country has witnessed overlapping of pow...
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Category : GST |
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Goods Vs. Services in GST: Concept and Open Issues
Posted Date : 05-Sep-2016 , 11:01:23 am | Posted By
CA Bimal Jain
Dear Professional Colleague, Goods Vs. Services in GST: Concept and Open Issues
As Goods and Services Tax (“GST”) is going to be levied on supply of goods and/or services, meaning of ‘goods’ and ‘services’ would also play vital role in levy and char...
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Supply- Taxable Event under Model GST Law-Inclusive and Subjective
Posted Date : 31-Aug-2016 , 12:11:36 pm | Posted By
CA Bimal Jain
Supply- Taxable Event under Model GST Law-Inclusive and Subjective With step-by-step progress towards Goods and Services Tax (“GST”), the Country is all set to witness the biggest indirect tax reform of unmatched importance in independent India. GST would mark a paradigm shift in the in...
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Category : GST |
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GST Simplified
Posted Date : 11-Aug-2016 , 10:22:05 pm | Posted By
Ankit
GST and its working:
Goods and Service Tax (GST) as the name suggest is a one single tax on the supply of goods and services, right from the Manufacturing to the ultimate delivery to customer. Credits of input tax paid at each stage will be available in the subsequent stage of value addition, which...
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Category : GST |
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MODEL GST LAW 2016 RELEASED
Posted Date : 15-Jun-2016 , 12:46:28 pm | Posted By
Raman Singla
MODEL GST LAW 2016 RELEASED
The Empowered committee of State Finance Ministers has released the much awaited model GST law June, 2016 for public debate. The new law has two Acts:-
Goods and Services Tax Act’ 2016
Integrated Goods and Services Tax Act’ 2016
...
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GST: A Boost to Indian Economy
Posted Date : 09-Feb-2016 , 12:03:03 pm | Posted By
MEENU GUPTA
INTRODUCTION
GST is a comprehensive tax levy on manufacture, sale and consumption of goods and services at a national level. It is a system of taxation where there is a single tax in the economy for goods as well as services. It is based on a tax-on-value-add concept which avoids duplication of tax...
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Category : GST |
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GST Refund - The last step of compliance...!!!
Posted Date : 05-Jan-2016 , 01:17:21 pm | Posted By
Raman Singla
As per the discussion papers dated August 2015 issued by the Empowered Committee on the last step of Compliance under The Goods And Service Tax Act i.e. Refund under GST, the Committee has stated the steps assessee has to follow at the time of claiming Refund, the documents to be submitted and the p...
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Category : GST |
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GST- A Revolution in Indirect Tax Law
Posted Date : 28-Dec-2015 , 05:50:18 pm | Posted By
Rohit Kapoor
GST- A Revolution in Indirect Tax Law
Good and Services Tax is the most logical steps towards the comprehensive indirect tax reform in India since independence. Goods and Services Tax is to be implemented shortly by the Government of India. GST is leviable on every transaction involving supply of ...
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Category : GST |
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Lawmakers let another GST opportunity go abegging with washout of winter session
Posted Date : 24-Dec-2015 , 08:14:09 pm | Posted By
CA Bimal Jain
Lawmakers let another GST opportunity go abegging with washout of winter session
GST has been missing several deadlines in the past. Perhaps, the only major reform both India and the World were looking at from the Parliament’s winter session was the passage of the 122nd Constitut...
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GST RETURN under GST
Posted Date : 24-Dec-2015 , 11:45:21 am | Posted By
Raman Singla
A return is a statement of specified particulars relating to business activity undertaken by the taxable person during a prescribed period.
A taxable person has a legal obligation:
To declare his tax liability for a given period in the return;
Furnish details about the taxes paid ...
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GST: RBI E-KUBER... WHATS THAT...???
Posted Date : 23-Dec-2015 , 11:35:39 am | Posted By
Raman Singla
The Joint Committee formed under GST recommends that RBI should play the role of an aggregator through its e-Kuber system. Such role will facilitate participation of larger number of banks in GST receipts enhancing convenience for the tax payers and provide single source of information for cred...
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GST PAYMENT- ONLINE OR MANUAL...??
Posted Date : 21-Dec-2015 , 11:37:14 am | Posted By
Raman Singla
One more Report of Joint Committee dated April 2015 was issued to give clarity on the issues relating Goods and Service Tax Payment.
It is said that more the system and procedures are made electronic more is the efficiency of tax administration and greater is the satisfaction of t...
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