Goods and Services Tax - Page 5

Reverse Charge Mechanism in GST Regime with Chart – Updated till date

The concept of reverse charge mechanism was introduced in erstwhile Service Tax laws. Generally, tax is payable by the person who provides Services but under reverse charge mechanism the liability to pay tax has shifted to recipient of Services. ...

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Provisions related to Provisional Assessment in GST

A supplier will come to know the extent of his tax liability which has to be discharged on a continuous and regular basis only after assessment. Assessment means determination of tax liability and includes self-assessment, re-assessment, provisional assessment, summary assessment and best judgment assessment....

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NO GST on Stock Transfer and NO GST credit on stock transfer

This Article discusses on liability of GST on Stock Transfer from the Head Office in one State to its Branches in other States and GST credit on Stock transfer. For the purpose of understanding the questions involved, following relevant provisions of the GST law are highlighted: (i) . Rule 28 deals with valuation of a […]...

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Provisions related to Casual Taxable Person in GST

Who is casual taxable person? Casual taxable person means a person who ♠ occasionally undertakes transactions ♠ involving supply of goods or services or both ♠ in the course or furtherance of business ♠ whether as a principal, agent or in any other capacity, ♠ in a State or a Union Territory where he has […]...

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Provisions of E-way Bill under GST

Article explains Persons required to generate E-way Bill, Primary responsibility of generating e-way bills, E-way bill in case of Supply of goods by unregistered person to unregistered recipient, Goods exempted from e-way bill requirement, Threshold limit for generating e-way bill, Validity period of e-way bill, E-way bill in case of Move...

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Measures to Boost MSME Sector

The Indian MSME Sector The Indian MSME sector is the backbone of the national economic structure and has unremittingly acted as the bulwark for the Indian economy, providing it resilience to ward off global economic shocks and adversities. With around 63.4 million units throughout the geographical expanse of the country, MSMEs contribute...

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Bihar relaxes e-way bill requirement

Notification No. S.O. 14 (14/01/2019)

The e-way bill in respect of movement of goods originating and terminating in the State of Bihar shall not be required to be generated where the consignment value does not exceed One Lac Rupees...

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Reg. Exemption from payment of late fee for delayed profession tax payment in Maharashtra

Trade Circular No. 6T of 2019 (14/01/2019)

If it is found that the employer has not fulfilled the conditions or has submitted false information to avail the benefit of exemption then, his exemption of late fee shall be revoked and action will be taken against him as per the provisions of law....

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Dheel (Ease) for Small kites (Small taxpayers) under GST!

f we compare GST and kite flying, then the person who is flying kite is the Taxpayer , kite is GST, Chakri means books of accounts, jumbling in threads means Returns, Air means Tax collection, Cutting of Kites means Matching mis-matching, and String means Law. ...

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GST Billing Invoice for CA, Consultant and Professional in Excel

Utility to generate Invoice for CA, Consultant and Professional in Excel Format. Here you can save multiple invoice according to your choice....

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Goods and Services Tax India

The Goods and Services Tax or better known as GST is a Value added Tax and is a comprehensive indirect tax which is levied on the manufacture, consumption, and sale of goods and services. The Goods and Services Tax in India would replace all the indirect taxes which are levied today on goods and services by the Central and the State governments. GST is intended to be comprehensive for most of the goods and services. Goods and Services Tax is a single indirect tax for the entire nation, which would make India a unified market. It is proposed to be a single tax on supply of goods and services, from a manufacturer to the end consumer. The credit of all the input taxes which are paid at each and every stage would be allowed in the following stages of value addition that makes GST basically a tax on value addition only at every stage. The end consumer would have to bear only the Goods and Service Tax which is charged by the final dealer within the supply chain, together with all the set-off benefits availed at previous stages.

At Taxguru, we provide all the latest GST news to our viewers. Our group of expert keep a close check on all the latest developments and provide a comprehensive analysis on GST updates. We keep updating our portal with articles on GST for the enlightening our readers. Bookmark us for all the GST articles and much more on GST.