GST articles

Key changes in Revised Model GST Law

Taking into consideration majority of the concerns raised by the Trade and Industry, the Government has, on November 26, 2016, released the Revised version of the Model GST Law along with Draft GST Compensation Bill. ...

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Composition Levy Under GST

Under composition levy scheme, a registered taxable person is eligible to pay, in lieu of tax payable by him, an amount calculated at such rate as may be prescribed, but not less than 2.5% in case of a manufacturer and 1% in any other case of the turnover in a state during the year i.e. the min. rate of tax payable by a manufacturer is 2....

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Getting Started with GST – Step by Step

The Government has initiated the process of transferring the Assessees into the much awaited indirect tax reform GST. The question at present with the Assessee’s is how to start the process. Whether anything is required to be done at present or when it needs to be started....

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GST Registration Procedure : Who is required to register for GST number?

Applicant, who is seeking registration, will have to declare his PAN, mobile no and email address in Part A of Form GST REG–01 on GSTN portal or through Facilitation centre (notified by board or commissioner)....

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Important changes in Revised Draft Model GST Law

Definition of Aggregate turnover has been modified. Non-taxable supplies have been excluded from the aggregate turnover, while inter-state supplies were added. This is a right move as non-taxable supplies cannot be part of aggregate turnover....

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Brief Analysis of Draft Integrated Goods & Services Law,2016

As per Section 3, Inter-State Supply of goods or services means any supply where the location of the supplier and the place of supply are in different States. Place of Supply is defined under section from 7 to 10....

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GST Registration for Unstitched Market – Applicable

Mandatory GST Registration Reason : 1. Due to crossing the threshold prescribed. (As per Government 20L/150L) 2. Due to Inter-State Supply 3. Due to liability to pay as recipient of services (Reverse Charge) 4. Due to transfer of business which includes change in the ownership of business (if transferee is not a registered entity)...

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GST Registration Opens: 7 Points you must know about new enrollment procedure

The time has come when history is unfolding itself on 8th November, 2016. The government has launched the GST system portal to start the enrollment/registration for the existing taxpayers. We seek you kind attention because government has set up a limited time for the enrollment and hence, we dont want you to miss the bus....

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Important changes in Section 2 (Definitions) under revised Draft CGST/SGST Act

Non Taxable turnover deleted from the definition of Aggregate turnover, but as exempt supply definition covers supply not taxable under the act it means non-taxable turnover still be the part of aggregate turnover....

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GST movie coming soon!!! But Advance booking started

GST provisional registrations has now started. The work of GST has come to a standstill in parliament due to discussion about old notes. Then why did GST provisional registrations get started now. For whom is it and how is it to be done?...

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September 2021