Goods and Services Tax - Page 3

Buying a car? Find out how GST affects you

Looks like prospective car buyers are going to have to consider more factors than just make and model or gas mileage before investing in a car once the Goods and Services Tax is implemented this year. Experts are of the opinion that one of the major beneficiaries of the one country, one tax rule will be the domestic automobile sector in I...

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VAT on E-Commerce Transactions

E-Commerce is growing fast, or dying slow…!! Today everyone is slowly and gradually coming up online to buy & sell. We as professionals need to add value to our client business by educating them and allowing them to comply with applicable laws effectively & efficiently....

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32 FAQs on Place of Supply of Goods and Services under GST

The basic principle of GST is that it should effectively tax the consumption of supplies at the destination or at the point of consumption. So place of supply provision determines the place i.e. whether a transaction is intra-state or inter-state. In other words, the place of Supply of Goods is required to determine whether a supply is su...

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Flow of Returns for all Kinds of Taxpayers under GST

There has been a massive evolution in the process of filing returns under GST when compared to the returns under the present laws. The requirement of robust technology for filling up data in the returns is one of the key reasons behind this. ...

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Goods and Services Tax Act to help in reducing prices of various items

For FDI, India is most preferred destination in the world today; independence i.e. Goods and Services Tax Act to help in reducing prices of various items...

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Maintenance of Accounts, Records and Auditing Revised Model GST Law

Maintenance of accounts and records has always been a redundant topic in every law. So, be it Income tax act, 1961, Companies Act, 2013, Central Excise Act, 1944, State VAT laws. Each law contains provisions for up keeping of accounts and records....

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Transitional provisions under Revised Model GST law (MGL)-FAQs

Migration of existing registered persons into the GST is an exercise for updation and validation of data of existing taxpayers registered with various tax authorities for use at GST Network (GSTN) post implementation of GST. This process may not be construed as completion of registration process under GST....

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Transitional provisions under Revised Model GST law (MGL)-Part II

Credit of eligible duties and taxes on inputs held in stock-IMPORTANT FOR MANUFACTURER It is a concern of the manufacturer that in case they are manufacturing both exempted and non-exempted goods then what would be the mechanism to get the credit in GST regime on inputs lying in stock as on the appointed date....

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Maharashtra Budget 2017-2018 Highlights with Speech

In this article we have compiled highlights of Maharashtra Budget 2017-18 alongwith Budget Speech including the changes on Tax Front in GST, Formation of additional benches of Maharashtra Sales Tax Tribunal, Maharashtra Value Added Tax Act, Profession Tax Act, Entry Tax Act, Sugarcane Purchase Tax, Value Added Tax, Lottery tax etc. Budget...

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Maharashtra State Budget 2017: Disturbance due to Farm Loan Waiver & Silence due to GST

Honorable Finance Minister of Maharashtra, Mr. Sudhir Mangutwar has announced the State Budget for Maharashtra State on 18th March. What are the important things in this State budget?...

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Goods and Services Tax India

The Goods and Services Tax or better known as GST is a Value added Tax and is a comprehensive indirect tax which is levied on the manufacture, consumption, and sale of goods and services. The Goods and Services Tax in India would replace all the indirect taxes which are levied today on goods and services by the Central and the State governments. GST is intended to be comprehensive for most of the goods and services. Goods and Services Tax is a single indirect tax for the entire nation, which would make India a unified market. It is proposed to be a single tax on supply of goods and services, from a manufacturer to the end consumer. The credit of all the input taxes which are paid at each and every stage would be allowed in the following stages of value addition that makes GST basically a tax on value addition only at every stage. The end consumer would have to bear only the Goods and Service Tax which is charged by the final dealer within the supply chain, together with all the set-off benefits availed at previous stages.

At Taxguru, we provide all the latest GST news to our viewers. Our group of expert keep a close check on all the latest developments and provide a comprehensive analysis on GST updates. We keep updating our portal with articles on GST for the enlightening our readers. Bookmark us for all the GST articles and much more on GST.

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