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Tax evasion at various stages will be eliminated as tax offsets can be collected only if taxes have been paid originally. You will also be able to buy raw materials or constituent materials for production only from those who have paid taxes, in order to claim benefits....

Section 12: Time of Supply for Goods: A. If the taxable person is the Supplier of Goods Time of supply of goods shall be earliest of the following dates: 1. Actual date of issue of invoice or date of removal of goods, if it involves movement of goods or date of delivery of goods, if […]...

Finance Minister Arun Jaitley on Sunday chaired the 16th meeting of the GST Council which has decided: ♦ Increase in turnover limit for composition scheme ♦ Rate adjustment as received from various industry representative ♦ Finalising Accounts and Records Rules and their format...

In GST, Composite Supply, Mixed Supply, Taxable Supply, Zero Rated Supply, Exempt Supply, Continuous Supply, Intrastate Supply, Inter-State Supply, etc. are the types of Supply. Among these types Composite Supply and Mixed Supply are the important types. ...

Government emphasizes that Goods and Services Tax (GST) is scheduled to roll-out on 1st July, 2017; CBEC in coordination with the State Governments has increased their Outreach Programmes so as to reach the last trader....

CGST shall be levied by the Central Government on the intra-state supply of goods and / or services, SGST / UTGST shall be levied by the State Government / Union Territories on the intra-state supply of goods and / or services, IGST shall be levied by the Central Government on the inter-state supply of goods and / or services....

Due to GST the prices of jewellery will be increased by 0.99% or 2.79% without making charges or including making charges respectively. In the excise, SSI exemption up to Rs. 6 crore is available but this limit will remain up to Rs. 20 lakh in the GST. Due to this more assesses will cover under the GST. ...

Working capital is a common measure of a company's liquidity, efficiency, and overall health. It is the cash available for day-to-day operations of an organization. There are some apprehensions that in GST regime, the working capital requirements will increase. Let us check the truth with some practical transactions like stock transfer, ...

Under GST the whole scenario will change and new destination based taxation will come into picture where taxes will be retained by the states consuming the goods and not by the states from where supplies (sales) are made....

Maintenance of accounts and records has always been an important concept. The same is under GST also, but the rules are different. GST Council in its 16th meet held on June 11, 2017, finalized the rules related to maintenance of accounts and records. In this write- up, all rules related to maintenance of accounts and […]...