CA Chitresh Gupta

All About Job Work Under GST Regime

Goods and Services Tax - Movement of goods to job workers is an essential business situation which occurs frequently. Many times a manufacturer send goods to a job worker for getting further work done on them, and receive the goods back from job worker or sell the goods directly from the place of job worker....

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Demystifying supply as per revised model gst law

Goods and Services Tax - Article 366(12A) of the Constitutional (101st Amendment) Act, 2016 defines the Goods and Services tax (GST) as "a tax on supply of goods or services or both, except supply of alcoholic liquor for human consumption". The term 'supply' is, however, not defined in the Constitution....

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Input Tax Credit Under Revised Model GST Law 2016

Goods and Services Tax - In present indirect taxation system, cascading of tax is significant due to non-availability of ITC at various stages. Following are certain instances of such cascading of taxes...

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Amendments In Excise & Cenvat Credit Rules,2004: Budget 2016

Goods and Services Tax - E1: INCREASE IN CLEAN ENERGY CESS [NOTIFICATION NO 1& 2/2016 DATED 29TH FEB,2016]- APPLICABLE FROM 1ST MARCH 2016 The Clean Energy Cess is being renamed as Clean Environment Cess. Also, the Tenth Schedule to the Finance Act, 2010 dealing with Clean Energy Cess is being amended so as to increase the Scheduled rate of Clean […]...

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Taxes to Be Subsumed In GST

Goods and Services Tax - GST is commonly described as indirect, comprehensive, broad based consumption Tax. The Dual GST which would be implemented in India will subsume many consumption taxes. The objective is to remove the multiplicity of tax levies thereby reducing the complexity and remove the effect of Tax Cascading. The objective is to subsume all those tax...

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Recent Posts in "CA Chitresh Gupta"

All About Job Work Under GST Regime

Movement of goods to job workers is an essential business situation which occurs frequently. Many times a manufacturer send goods to a job worker for getting further work done on them, and receive the goods back from job worker or sell the goods directly from the place of job worker....

Read More

Demystifying supply as per revised model gst law

Article 366(12A) of the Constitutional (101st Amendment) Act, 2016 defines the Goods and Services tax (GST) as "a tax on supply of goods or services or both, except supply of alcoholic liquor for human consumption". The term 'supply' is, however, not defined in the Constitution....

Read More

Input Tax Credit Under Revised Model GST Law 2016

In present indirect taxation system, cascading of tax is significant due to non-availability of ITC at various stages. Following are certain instances of such cascading of taxes...

Read More

Amendments In Excise & Cenvat Credit Rules,2004: Budget 2016

E1: INCREASE IN CLEAN ENERGY CESS [NOTIFICATION NO 1& 2/2016 DATED 29TH FEB,2016]- APPLICABLE FROM 1ST MARCH 2016 The Clean Energy Cess is being renamed as Clean Environment Cess. Also, the Tenth Schedule to the Finance Act, 2010 dealing with Clean Energy Cess is being amended so as to increase the Scheduled rate of Clean […]...

Read More

Taxes to Be Subsumed In GST

GST is commonly described as indirect, comprehensive, broad based consumption Tax. The Dual GST which would be implemented in India will subsume many consumption taxes. The objective is to remove the multiplicity of tax levies thereby reducing the complexity and remove the effect of Tax Cascading. The objective is to subsume all those tax...

Read More

Comparison of GST Bill 2014 and Recommendations of Select Committee of Rajya Sabha, 2015

The Constitution (122nd Amendment) Bill, 2014 was introduced in Lok Sabha on December 19, 2014 and was passed by it on May 6, 2015. The Bill was referred to a Select Committee of Rajya Sabha for examination which submitted its Report on July 22, 2015. The Report contained various recommendations along with three Notes of Dissent submitted...

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GST Rates – An Unresolved Issue- GST Knowledge Series-3

One of the crucial issue for successful implementation of GST relates to the determination of the GST rate. Since the GST is primarily intended as an exercise in reforming the consumption tax in India and not an exercise for additional resource mobilisation through discretionary changes, the CGST and SGST rates should be such rates which ...

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Goods & Service Tax – Key Features- GST Knowledge Series-2

Goods & Service Tax – Key Features In continuance of our earlier series titled GST Knowledge Series# 1, Understanding the Mechanics of Goods & Service Tax, we have discussed the basic DNA of Goods & Service Tax popularly known as GST. These features as applicable to India were: DUAL GOODS AND SERVICE TAX APPLICABILITY OF [&h...

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Understanding the Mechanics of Goods & Service Tax – GST Knowledge Series-1

The Goods and Services Tax (GST) is a comprehensive value added tax (VAT) on the supply of goods or services. It is levied and collected on value addition at each stage on sale or purchase of goods or supply of services based on input tax credit method but without state boundaries. ...

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Analysis of Service tax rate increase from 12.36% to 14%

Analysis of Service tax rate increase from 12.36% to 14% (Subsuming EC and SHEC) effective from 01.06.2015 After the Hon’ble President has given assent to the Finance Bill, 2015 on May 14, 2015, the Ministry of Finance, Department of Revenue vide Notification No. 14/2015-ST dated May 19, 2015 has notified increase in the rate of [&helli...

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