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Ca Akshay Jain

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Analysis – CGST, IGST & Compensation Amendment Act, 2018

September 9, 2018 3765 Views 2 comments Print

CGST-AMENDMENT-ACT-2018 Some of the changes have been made retrospective w.e.f 1st July, 2017 The Act shall come into force on a later date which shall be notified Amended Sections and New Section S.No. Section Description S.No. Section Description 1 2 Definitions 15 35 Accounts and other records 2 7 Scope of supply ( w.e.f. 1st […]

All about GST on Works Contract and Work Contact Tax Rate

September 30, 2017 155808 Views 29 comments Print

Article explains What is works contract,? Works contract – Goods or services?, Block ITC on Procurement Of Works Contract services?, Maintenance of accounts by registered person executing works contract and GST Rates for Works Contract.

Reply on GST Queries by Government on Twitter- V2

June 16, 2017 8406 Views 2 comments Print

In this Article we have compiled important Question and answers on GST from 06.06.2017 to 15.06.2017. (Tweets from 28th May 2017 to 05th June 2017 Covered by V1)

Reply on GST Queries by Government on Twitter- V1

June 6, 2017 16080 Views 5 comments Print

Government has started an initiative of replying queries on GST at its officials Twitter handle @askGST_GoI from 28.05.2017. In this Article we have compiled such Question and answers on GST from 28.05.2017 to 05.06.2017. We do not verify the correctness of such Answers.

GST On Non-Banking Finance Companies (NBFCs)

May 26, 2017 90219 Views 6 comments Print

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 Registration). 3. Inter-State supplies of services between branches of same entity will also attract IGST 4. 37 […]

GST Impact on your next purchase of CAR

May 19, 2017 8664 Views 2 comments Print

GST Council has already fixed the rates for more than 1,000 items on 18 May 2017, and today on services. Under the new GST structure, cars will be subjected to a standard 28 % tax rate and additional cess between 1 to 15%.

Impact of GST on Income Tax Act 1961

October 9, 2016 15673 Views 1 comment Print

GST is pegged to be one of the biggest game changers for Indian economy, making India one unified common market. The April 1, 2017, rollout deadline for the new indirect tax regime looks tough but not impossible and both the states and Centre are ready in terms of preparedness. It will subsume all the taxes currently under the indirect tax basket, such as Central Excise Duty, Service Tax, VAT, CST, Entry Tax, and Luxury Tax and so on.

Composition levy Scheme for small CA Firms in Model GST Law

September 21, 2016 11518 Views 0 comment Print

The object of all such composition schemes is not to burden the small dealers from the provisions of record keeping. Here we are analyzing the merits and demerits of the composition levy scheme if so adopted by small CA Firms.

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