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Archive: 02 July 2017

Posts in 02 July 2017

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7170 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

2nd Day after roll-out of GST passed without any major problems

July 2, 2017 840 Views 0 comment Print

2nd Day after roll-out of GST passed without any major problems; Dhabas and big Restaurants as well as from Kirana shops to Departmental Stores have started getting acclimatized to the new tax system;.

GST : Great Instrument to Help Poor Move up the Ladder

July 2, 2017 1503 Views 0 comment Print

In his inspirational speech at mid-night of June 30, minutes before the roll out, Prime Minister, referred to GST as a life changing instrument for the poor particularly in eastern Uttar Pradesh, other eastern states and the North East. Even as they are blessed with rich natural resources, these states have not been able to fully exploit the same for their development.

Why GST in India -Main advantages of GST

July 2, 2017 2850 Views 0 comment Print

The Current Indirect tax regime is quite complex. Central and State Governments levy a large number of taxes such as Central Excise duty, Service Tax, VAT, Purchase Tax, Central Sales Tax, Entry Tax, Local Body Taxes, Octroi, Luxury Tax, etc.

4 FAQS related to GST Migration / Registration

July 2, 2017 5547 Views 0 comment Print

1. I have applied for registration and have not received ARN. What shall I do? Please complete your application procedure, ARN will be generated. 2. I have not received ARN or have received ARN but not GSTIN. How do l supply goods or services or both? You can supply goods or services or both on […]

Red-carpet entry of GST from July 1, 2017 and gist of various GST Notifications

July 2, 2017 3918 Views 0 comment Print

Recently, the Government has released various Notifications under CGST, UTGST and IGST for giving kick start to the mammoth indirect tax reform in India. Various Notifications issued by the Government are as under:

Invoice & other Payment / Transaction Documents under GST

July 2, 2017 42705 Views 5 comments Print

With historic lunch of GST, India’s biggest tax reform since independence that will be lunched at midnight on 30th June, 2017 signals new era for Indian Business. As a fall out of this w.e.f. 1st July for all transactions new series of Invoice is need to be issued. An invoice is a document sent by a supplier to a recipient that specifies detailed account of the products or service and a set of other information that can vary a bit depending on the requirements of both the interested parties and also indicates payments and other commercial terms. It forms a very important document for transacting, recording and preserving accounts. Under GST several types of invoices or documents are mandated suitable for different circumstances. Let us in this paper discuss different types of invoices like Tax Invoice, Export Invoice, Bill of Supply, Receipt Voucher, Refund Voucher, Payment Voucher, Debit / Credit Notes, ISD Invoice, Delivery Challan, Consolidated Invoice etc.

A Shift from MVAT to GST for Traders

July 2, 2017 3423 Views 1 comment Print

The Biggest Indirect Tax Reform of India is about to take place on 1st July, 2017. A Summarized Format of Significant Differences under M-VAT Provisions & GST has been given below :-

Place of Supply of Goods with analysis of Clause (a) (b) and (c) of sec 10 of IGST with treatment of Ex-factory supply.

July 2, 2017 14274 Views 12 comments Print

The GST is destination base consumption Tax that mean Tax will goes to consumption state. The purpose of GST free flow of goods between the states. India become a one market with one tax rate. Some expert has given view that in case of ex-factory supply the POS shall be the place of supplier’s state.

IBC 2016: A Resolution Mechanism or Recovery Tool or Both

July 2, 2017 2493 Views 0 comment Print

We have a unique law in the name of Insolvency and Bankruptcy Code -2016 in force in whole of India except part 111 shall not extend to the state of Jammu and Kashmir. This Act is called a code and not an Act because it is a compendium of many acts meaning thereby with this code has caused the repeal of many acts

Standard Operating Procedure for FDI in India

July 2, 2017 3084 Views 0 comment Print

The Finance Minister in his budget speech for FY 2017-18 had included a significant proposal of abolishing the Foreign Investment Promotion Board (FIPB) and replace it with a decentralized mechanism at the respective ministry level to examine and approve FDI proposals in India.

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