Every fiscal statue makes provision for determination of value as tax is normally payable on ad-valorem basis. In GST also, tax is payable on ad-valorem basis i.e. percentage of value of the supply of goods or services.
Simply put, a works contract is essentially a contract of service which may also involve supply of goods in the execution of the contract. It is basically a composite supply of both services and goods, with the service element being dominant in the contract between parties.
The GST Act defines an Agent as a person including a factor, broker, commission agent, arhatia, delcredere agent, an auctioneer or any other mercantile agent, by whatever name called, who carries on the business of supply or receipt of goods or services or both on behalf of another.
To support the family members, the money has been given by the assessee to his son/wife. This is simply a transfer of money from one family member to another family member to support day to day expenses, educational expenses and other family expenses
It is a matter of great concern that Membership of a large number of members could not be renewed for the year 2017-18due to non-payment or short-payment of Membership Fee and/ or COP Fees across the country and in the Western Region. Hectic professional engagements, travel schedules, applicability of GST on membership fees and increase […]
