Goods and Services Tax : Lift is not a machine , it is part of Building, is it true . is the ITC claimable on purchase of Lift . Let us discuss whether lif...
Goods and Services Tax : In GST, Rules 89(5) can not override the Section 54(3) The Rules were meant only for the purpose of carrying out the provisions of...
Goods and Services Tax : A company dealing in software does development of software and got the order from Thailand for development of software and along w...
Goods and Services Tax : Section 67 to 71 of CGST ACT,2017 explains the circumstances where in search, seizure and arrest can be done. Inspection and sea...
Goods and Services Tax : Partner salary, income from salary from Company and various other income interest on Loan and deposit , Interest on debenture ...
Excise Duty : CENVAT Credit on Canteen Services and House Keeping/Cleaning Services availed in office building are admissible to Assessee when s...
CA Sanjeev Singhal It is important to understand provision of GST law that when the registration is required like at what value of turnover , kind of person covered for registration, what are the situation where registration is required without the threshold limit means after the occurring of particular transaction or transaction by particular person. […]
Transition provision is one time provision which shall be applicable at the time of migration to GST on the appointed day. These provision may be said as most crucial because of migration of existing law in to GST and may face many challenges as well. Provisions have been well laid down in CGST Act,2017 and Rule of Transition.
CGST Bill,2017 under Section -10 provides that small taxpayer can opt for the scheme of composition tax instead of opting for paying tax under the regular supply of goods. Here this should be noted that this option is not available to registered person who is providing only service except supply of service mentioned in clause b of paragraph 6 of Schedule-II .
Under the Central Excise and Service Tax laws, there is no requirement for audit of accounts and furnishing reconciliation statement by an accountant except special audit.
How the liabilities in respect of Tax , interest, penalty and other dues under the GST shall be paid, have been summarized hereunder. How the same shall be entered in various register etc. All this is prescribed in Section 44 and Section 45 of the revised GST Law and GST Payment Rules ,2016.
What is Zero rated supply and what is the benefit and implication of the such supply. Just look at the provision of the same provided in Revised GST Law and IGST Law
Supply is wider term used in GST law as the GST is based on Supply only. Now the question arises what is supply. Supply is transfer of goods and services on which GST will be imposed. Supply has been mainly defined in Section 3 of GST law subject to Schedule- I to IV.
Supply is wider term used in GST law as the GST is based on Supply only. Now the question arises what is supply. Supply is transfer of goods and services on which GST will be imposed.
The contents of this article are solely for information and knowledge and does not constitute any professional advice or recommendation. Author does not accept any liability for any loss or damage of any kind arising out of this information set out in the article and any action taken based thereon.
This chapter will focus on the time of supply of goods and services vis a vis valuation of supply which includes goods and services. Both are very significant part of any business vis a vis taxation.
