GST

All about Advance Ruling in Goods and Service Tax (GST) Introduction Obtaining an advance ruling helps the applicant in planning his activities which are liable for payment of GST, well in advance. It...

All about Demands and Recovery under GST Introduction Sections 51 to 59 of the Model GST Law deals with demands and recovery of taxes. Sections 108 to 115 deals with liability to pay tax in certain ca...

All about Tax Refund Provisions under GST Law PART-I-INTRODUCTION 1. VAT is a multi-stage tax levy system which envisages collection of tax at each stage of the value addition chain, with a provision...

All about GST Assessment, Provisional Assessment and Audit Preamble 1.1 Assessment is the process of determination of the tax liability of a tax payer. Section 6203 of the Revenue and Taxation Code of...

A return is a statement of specified particulars relating to business activity undertaken by the taxable person during a prescribed period. Return is a very critical aspect of any tax administration s...

Provisions of Audit under Goods and Services Tax Act This article contains the description of provisions related to audit under Model GST Law. Objectives of audit under indirect taxation can be descri...

Job Work under Goods and Service Tax (GST) On 14th June Model draft of GST was published. If read properly one will realise that there are more thorns than roses. GST Council is now in place and will...

All about Cross Utilization of CGST/SGST/IGST and Fund Transfer Under the proposed GSTLaw, tax components could be CGST/SGST/IGST. CGST & SGST is leviable on intra-state supplies whereas IGST is levie...

Concept of Input Service Distributor in Goods & Service Tax The Existing Model of Input Service Distributor (ISD) for the purpose of distribution of input credit on services has been adopted in the Mo...

All about Input Tax Credit under Goods & Service Tax (GST) One of the key features of Goods and Service Tax (GST) in India is its uninterrupted and continuous chain of input tax credit (ITC). In the p...

Tax on Goods Sent on Job Work under Goods & Service Tax (GST) Movement of goods to job workers is an essential business situation which occurs frequently. Many times a manufacturer send goods to a job...

All about Payment of Tax under Goods & Service Tax Ease in making payment towards tax and other dues is very important in a country like India. Challenge before the Empowered Committee was to usher in...

Highlights of first meeting of the GST Council held on 23rd September 2016. 1. GST threshold limit to be kept at 20 lakhs for all states barring the north-east and hill-area states, for which limit be...

GST- Meaning, Scope, Time & Valuation of Supply of Goods & Services Meaning and Scope of Supply I. Introduction Article 366(12A) of the proposed 122nd Constitutional Amendment Bill, 2014 defines the G...

GST Registration: Law, Business Process & Transitional Provisions Registration of any business entity under Model GST Law (have been referred here as law or Act) implies obtaining a unique number from...

Levy of GST and Exemption from GST Tax INTRODUCTION: As understood traditionally in Economics, a good taxation system should meet five basic conditions: fairness, adequacy, simplicity, transparency, a...

Goods and Services Tax (GST): An Overview I. Introduction Introduction of GST would be a very significant step in the field of indirect tax reforms in India. By amalgamating a large number of Central...

Interest – New Meaning In GST Interest is a consideration for allowing someone to use your money. It could be termed as Compensation paid to one who allows his money to be used by another person. This...

Scope of Taxable Person Under GST As per Section 2(96) of the Model GST Law, ‘taxable person’ has been defined to have a meaning as assigned to it in section 9 of the model law. According to section 9...

Department of Sales Tax, Government of Maharashtra 25 Frequently Asked Questions (FAQ) regarding Advance Ruling 1. What is the Scheme of advance Ruling? Earlier Provision: Section 55 of the MVAT Act,...