GST - Page 1440

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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Principal place of business, Proper Officer and Services under Revised Draft GST Law

The amendment bought in the definition is that principal place of the business will be the place mentioned in registration certificate irrespective of the location of books and accounts. ...

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How your invoice will look like in GST

Finance Ministry has issued Draft GOODS AND SERVICES TAX -INVOICE RULES, which set rules for invoice which will be issued after the implementation of GST. This rules is very important as this will tell us the minimum/compulsory content of the GST Invoice...

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No hike in service tax if GST roll out is delayed

The Government is not thinking to hike service tax if GST roll out is delayed. The Government is taking steps to expedite the GST and to take the concerns of the States on board. ...

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Constitution (One Hundred and First Amendment) Act, 2016- PART I

Article 254 gives power to States to prevail their own Law in respective states with the consent of President even if the parallel Central Law is in existence, thus for the purpose of this Act, the said article has been overruled by using words notwithstanding (overruling/disregarding) in the opening line of the Article 246A....

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All efforts on for smooth handling of data for transition to GST

With the goods and services tax (GST) on the anvil, all state governments are working very closely with central government and all efforts are on to put the elaborate information technology (IT) infrastructure in place for smooth handling of massive amount of data, a top CBEC (Central Board of Excise and Customs) official said at an ASSOC...

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GST on Ex-Works Sales vis-à-vis Place of Supply

The following discussion focuses on Place of supply of Goods aspect. Place of supply (‘POS’) should mean the place where supply happened or made to be happened by some government force....

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August 2021