Goods and Services Tax - Page 3

Let’s prepare ourselves for GST: especially for small businessmen

Government is trying hard to implement GST with effect from 1st of July 2017, so the time has come to pull up your socks and keep yourselves ready to handle this transitional phase of the biggest tax reform in India. For the smooth transition from the existing structure of Indirect taxes into the new GST regime, both businessmen and the c...

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GST On Non-Banking Finance Companies (NBFCs)

Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in Some of the noticeable provisions on NBFCs under GST are as under:- 1. Services provided are taxable at 18% GST Rate (Earlier 15% Service Tax). 2. Need to obtain State wise Registration where they have branches (Earlier Centralised Registratio...

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Composition Scheme under GST (Updated 18 May 2017)

Under the proposed GST regime, registered persons shall either pay the taxes under normal rates or he may opt to pay tax at special lower rates under composition scheme as specified in the act and rules there under. Normal rates of taxes under GST is expected to be anywhere between 18% to 24%. However under composition scheme registere...

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Simplified Approach to GST – Online Certification Course Jointly by GST Professionals & Taxguru.in

Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in GST at your doorstep; are you ready to open the door? Join most Intensive Online Certification Course on GST organised jointly by GST Professionals and TaxGuru.in across India to give a simplified and comprehensive understanding of the GST law...

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GST Enrollment to re-open on 1st June, 2017

Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in All Central Excise & Service Tax Assessees Who are yet to enroll In GST, can do it now. Enrollment re-opens for limited period on 1st June, 2017 Please enroll in GST immediately Duty/ Tax credits under existing laws cannot be carried [&hel...

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New GST Rates Vs Old Indirect Tax (Excise, Service Tax & VAT)

Analysis of proposed GST Rates Vs existing rates is going on by different trades and industry. There may be little variation in different states due to difference in VAT rates. GST rates are yet to be notified and may undergo changes, before the notification is issued. However, a general comparison is as under:...

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Taxability under GST on Transportation of Goods or Passengers

Through GTA (Specific goods like agricultural produce, relief materials, defence or military equipments, milk, salt etc. (Exempt)) Other than above through GTA (5% - No ITC)...

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All New Valuation Rules Under GST- Determination Of Value Of Supply

Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in Since the all new GST (a biggest tax reform) is going to roll out soon, there are various questions floating in our minds, the most important among them is how to determine value of supply under GST? What is to be […]...

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Tax Invoice, Credit and Debit Notes under GST (as on 18 May 2017)

Articles gives details of Tax Invoice, Credit and Debit Notes under GST to be issued and Time limit within which such documents shall be issued...

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Time of supply of services – A drafting anomaly

The Goods and Service tax is going to the single biggest reform in Indirect Taxes of Independent India. It is going to radically change the way business is done in the country and is going to have a far reaching impact on our economy. The parliament has already cleared the Central Goods and Service Tax Bill among three others on 6th April...

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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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