GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage.
In this article the author has sought to analyse the basic provisions of the proposed GST law based on the Model GST Law released in public domain in June 2016. Being a model law that is proposed, readers may note that the same would be
In the SCHEDULE-II of the said Notification, for serial No.1 and the entries relating thereto, the following shall be substituted
Case Law Details Case Name : CIT Vs. M.s Neon Solutions P. Ltd. (Bombay High Court), IT Appeal No. 2251 & 2360 of 2013, 05.04.2016 Appeal Number : Date of Judgement/Order : Related Assessment Year : Courts : All High Courts (1233) Bombay High Court (292) Download Judgment/Order CA Saurabh Chokhra Brief of the case: 1. The Hon’ble Bombay High […]
The Institute of Company Secretaries of India has issued the Secretarial Standards (SS1 on Meeting of the Board of Directors and SS2 on General Meetings) which were approved by the Central Government. The adherence by the Company to these Standards is mandatory, as per the provisions of Section 118(10) of the Companies Act, 2013.
Credit card – a magic card that lets you pay for everything you want with just a single swipe. Credit card purchases may be intriguing. However, before piling up things with this wonder card, you must actually decide whether you need what you are buying by swiping that magnetic strip.
Saving may sound a painful process, and we often tend to delay it. However, procrastinating to save can prove to be even more painful in the longer run. Therefore never wait to make a start, rather make an early start, to this fruit-bearing
The recent developments with respect to Goods & Services Tax (GST) has considerably raised hopes of its implementation in India by April 2017. The Constitution amendment bill for framing the law for setting up the Goods and
We observed instances of non-submission of various prescribed returns by the assessees. Non-submission of returns would hinder the department’s ability to verify the duty paid by assessees, correctness of valuation, availing of Cenvat credit,
Government has released the draft of amendments which it will carried out in GST Constitution Bill as agreed by it during its meeting with Various Political Parties on the same. These amendments will be presented in Rajya Sabha today alongwith GST bill for consent of Members of Rajya Sabha and once
