"25 September 2016" Archive

All about Frontend Business Process on GST Portal

The proposed implementation of GST, a destination based consumption tax, has been designed as a dual VAT, keeping in view the unique federal nature of India's Constitutional Polity. The different imperatives driving this reform and role of GSTN in achieving them is briefly spelled out below...

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All about Place of Supply of Goods and Service under GST

Goods and Services Tax (GST) is levied on the taxable supplies of goods and services. The principle that is generally adopted for levy of GST is that it should effectively tax the consumption of such supplies at the destination thereof or as the case may at the point of consumption. Goods being tangible do not pose any significant problem...

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All about Integrated Goods & Service Tax (IGST) Act

One of the distinctive features of Goods and Services Tax is that it is levied on the value addition on each stage of supply chain. This is achieved by allowing input tax credit (ITC) of tax incidence on the immediately preceding stage of supply chain. Illustratively, the tax paid by manufacturer supplier is available as ITC to whole sell...

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All about Miscellaneous Provisions in GST & IGST

In Model GST Law, provisions relating to following matters are provided in chapter XXIII - Miscellaneous Provisions. 1..GST Compliance Rating. 2.Information return. 3.Power to collect statistics & its disclosure. 4.Test purchase of goods....

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All about Transitional Provisions in Goods & Service Tax

The purpose of incorporating Transitional Provisions in any Act is to clarify as to when and how the operative parts of the enactments are to take effect. The Transitional Provisions generally are intended to take care of the events during the period of transition....

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All about Offences, Penalty, Prosecution & Compounding in GST

GST Law codifies the offences and penalties in Chapter XVI. The Act list 21 offences in section 66, apart from the penalty prescribed under section 8 for availing compounding by a dealer who is not eligible for it. The said offences are as follows:-...

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All about Inspection, Search, Seizure and Arrest under GST

Ariticle deals with powers of officers of CGST and SGST to carry out inspection or search of any places of business or a transporter or a warehouse where there is a reason to believe that tax evasion has taken place or is likely to take place....

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All about Settlement Commission in Goods and Service Tax (GST)

In the Model GST Law, the provisions for Settlement Commission are incorporated only under the IGST Act (sections 11 to 26). This implies that cases cannot be settled in relation to tax liability of CGST/SGST Act. However, there is a possibility that those state tax administrations which want to constitute Settlement Commission can do so ...

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All about Advance Ruling in Goods and Service Tax (GST)

Obtaining an advance ruling helps the applicant in planning his activities which are liable for payment of GST, well in advance. It also brings certainty in determining the tax liability, as the ruling given by the Authority for Advance Ruling is binding on the applicant as well as Government authorities....

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All about Appeals, Review and Revision in GST

The purpose of this write-up is to provide an overall basic understanding of the statutory provisions (contained in the Model GST Law) which deal with the processes of tax appeals at various levels. Why do we at all need appeal mechanisms? Or, more generally, why do we need dispute resolution mechanisms? The simple answer is: because ther...

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