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Input Tax Credit under GST –Does it really Influence My Business?

Above quote of Chanakya the great Indian philosopher and economist reminds us of the mechanism of Input Tax Credit which is akin, since Government by giving needed credits for the inputs ensures that only right amount of taxes are collected...

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Formats of Invoice to be used Under GST Regime

Invoicing under the GST regime will be BEGNING OF PAPERLESS TRANSACTIONS ERA in this respect we should know the exact format of the invoice that will be put to use after April 2017. Government is striving hard to make it to the date. All what is left is the implementation of the GST....

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Time of Supply of Services – Present Vs GST– 5

Time of supply of service refers to point of time when levy occurs. The liability to pay GST on the services shall arise at the time of supply as determined in terms of provisions of section 13 of the GST Act....

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Two Important Issues before GST Council

Some critical issues are pending before the GST Council for a final decision which includes The Multi Rate Structure and Compensation Payable Through Cess. ...

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FAQs on Enrolment of Existing Taxpayer on GST System Portal

Articles Answers FAQs on Enrolment of Existing Taxpayer currently registered under Central Excise, Service Tax, State Sales Tax / VAT, Entry Tax, Luxury Tax & Entertainment Tax on GST System Portal...

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GST: Effective Tools to Price Control & Anti-Profiteering Law

Price Control & Anti-Profiteering Law is essential to alleviate concerns among consumers to ensure unreasonable increase in prices of goods and services in anticipation of introduction of GST regime....

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Supply, Time & Place of Supply of Goods / Services under GST

Goods and Services Tax (GST) is a destination based consumption tax levied at multiple stages of production and distribution of goods and services, with taxes on inputs credited against taxes on output. GST is going to be big game changer and under proposed GST regime...

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Place of Supply of Goods & Services under Model GST Law

First, we should try to understand why we need to emphasise and understand Place of Supply. Since GST Law is based on point of supply ie. Destination based...

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Goods and Service Tax – Concise Note for better understanding

Goods and Services Tax would be a very significant step in the field of indirect tax reforms in India. By amalgamating a large number of Central and State taxes into a single tax, it would mitigate cascading or double taxation in a major way and pave the way for a common national market....

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“Supply” the new buzzword post GST rollout

With GST standing at welcome gate of new financial year, it is inevitable for all of us to know as to when would GST liability arise? And this question takes us to the most profoundly discussed aspect of any tax regime, which is Taxable Event....

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