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Revised GST Law under Section -9 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 taxable person who is providing only service.
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.
First of all, one need to understand the definition of Job work under Revised GST law . After that it will be easier to understand the provision relating to supply of goods to job worker.
There is drastic change in Capital Goods definition under Revised GST Model Law from Model GST Law. Under GST law definition was very exhaustive though under Revised GST law It is quite simple.
There are 33 Sections [ Earlier 22 Sections ]under transitional provision of Revised GST Law when all major indirect tax Act’s going to subsumed under the GST Law.
One need to understand definition of Job work under GST law first to easily understand provision relating to supply of goods to job worker.
This chapter will focus on time of supply of goods and services vis a vis valuation of supply which includes goods and services.
Every person who is registered under the earlier law shall be issued provisional Number and after submission of requisite documents , GSTIN shall be issued as prescribed.
Before understanding the Input tax credit under GST Law it is essential to understand the changes made in earlier Law i.e. CENVAT under Rule ,2004 to the new law. After giving the due consideration, it is clear from the given table below that except few minor changes, Capital Goods under Rule 2(a) and Section 2[20] are same.
There are 22 sections under transitional provision of GST Law when all major indirect tax Act’s going to subsumed under the GST Law. This is most important provisions as these are applicable from the appointed day means when the GST Law shall be applicable.
