GST - Page 1436

20 FAQ on Electronic Commerce under GST

In simpler terms, e-commerce (electronic commerce or EC) is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet. These business transactions occur either as business-to- business, business-to-consumer, consumer-to-consumer or consumer-to-business. ...

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GST Impact Analyses on Indian Industry in General

Article covers Supply Chain Management, Production & Distribution, Legal, Finance and Accounting, Job work & ISD (Input Service Distributor) and Structural Changes ...

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GST: Revisional powers of chief commissioner or commissioner

A new concept of revisionary power of Chief Commissioner or Commissioner has been proposed in the GST Law as compared to the provisions prevalent in present indirect taxation. ...

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GST- Simplified Meaning

GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage. ...

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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....

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Glimpse of Invoices under Revised GST Model Law

Invoices being an important document need to properly issue as per the statue for uninterrupted flow of credit as well as compliance of law in force. ...

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TCS under Model GST Law – A challenge for e-commerce marketplaces

The Tax Collection at Source (TCS – Section 56) clause under the GST draft model law, mandates e-commerce marketplaces, to deduct 2% of the transaction value and submit it to the government. ...

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Section 101- Appeals to Appellate Tribunal under Revised Model GST Law

The provisions relating to filing of appeal to the appellate tribunal are discussed in this update. The appeal provisions prescribing time limit for filing appeal to Tribunal are similar to that for filing appeal to first appellate authority with the distinction that the first appellate authority can condone delay in filing appeal upto on...

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Standardised PPT on Revised Model GST Law

The introduction of GST regime is round the corner. It has become imperative  to understand this new law to serve the businesses. Continuing with its efforts to update the members, the Indirect Taxes Committee of ICAI has launched a Standardized PPT on Goods & Services Tax (GST) to provide a single handed knowledge on upcoming [&hell...

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Issue a Credit Note under Revised Model GST Law

A credit note is issued to correct a genuine mistake or to give a credit to your customer under the following situations...

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August 2021