Gaps in erstwhile indirect taxes law are sought to be overcome by Goods and Services (GST) law which provides utilization of cross credit across goods vs services or vice versa, ambiguity of analysing a transaction to be exigible to erstwhile service tax or VAT has been resolved by the explicitly stating supply to be goods or services under GST Law. Availability of exemption in case of inter state supply provided to service provider is a welcome step as the same was forcing to register small service provider even a Guest faculty. Robust growth in service industry and smooth implementation of GST calls for scribbling of summary of various provisions in Act, Rules, Notification, Press release etc.
Considering these facts, Indirect Taxes Committee of ICAI has decided to come up with a ‘Hand Book on GST for Service Providers’ which has been specifically developed to provide in-depth knowledge of provisions pertaining to services i.e Levy and exemption, Input service distributor, Registration, Time and place of supply, Valuation, Input tax credit, and Job work etc. in a very simple and easy to comprehend language.
Direct link to download ‘Hand Book on GST for Service Providers’ by ICAI
https://idtc-icai.s3.amazonaws.com/download/Hand-Book-on-GST-for-Service-Providers(27-10).pdf
Pl clarify if intermediary services provider to a foreign company having revenue less than 15 lacs eligible for exemption from gst registration or gst registration compulsory irrespective of 20 lacs threshold