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The Model GST Law was kept in the public domain in June 2016. It is a race against the time in order to implement the GST across the entire country by 1st April 2017.From origin based taxation system (in case of Excise and VAT/CST), GST will shift to consumption based tax system (i.e. the Taxes will go to the states where the goods and / ...

(1) As per Section 35 Payment of Tax, Interest, Penalty and other amount of Chapter IX of GST Model Law, Every deposit made towards tax, interest, penalty, fee or any other amount by a taxable person by Internet Banking, Credit Card/ Debit Card, NEFT/RTGS or any other mode shall be credited to the Electronic Cash Ledger of such person and...

The FAQ compilation covers broadly 24 topics with Chapters on Registration, Valuation, Input Tax Credit, Assessment, Audit, Refund, Demand and Recovery, Appeals, Advance Ruling, Offence and Penalties etc....

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....

Article 265 of the Constitution of India provides that no tax shall be levied or collected except by the authority of law. Furthermore, insertion of new article 246A makes a clear division of power to make laws with respect to goods and services tax imposed by the Union or by such State, as enumerated in the Seventh Schedule of the Consti...

till then there was nobody talking about the Excise Duty and its existence. GST has not yet been rolled out. Even the law is under preparation as yet. Then suddenly on 16.09.2016 what happened that everybody seems to be talking about it. ...

After the enactment of Constitutional (101st Amendment ) Act, 2016, the hope for advent of GST in India is no distant dream. GST Council has also been notified on September 15, 2016 and thus, the policy formulators have taken their positions as part of this Think-tank and shall be responsible for taking the biggest fiscal decisions of th...

The biggest change due to GST regime is the point when GST will be applicable i.e. Supply. First thing to understand before going forward to understand is that GST is a Destination based or consumption based regime of tax against the current Origin based regime....

Under GST regime, levy of IGST on imports would subsume CVD & SAD. Also, it appears that EC & SHEC shall continue to be levied on imports of goods on BCD and other Duties under Customs Act except CVD and SAD which are going to be subsumed under GST....

The proposed GST will cut short the time taken to deliver goods, saving of fuel, saving of additional expenses at check posts due to corruption etc. In this article all the possible opportunities, actions plans to be taken and representation to Govt. authorities on various issues are discussed....