GST

(“Frequently Asked Questions” has been drafted to facilitate understanding of customs bonded warehousing facilities by bringing together provisions of Chapter IX of the Customs Act, Notifications, Reg...

It is great news for business fraternity that Upper House of parliament has passed the much awaited GOODS and SERVICE TAX. Now the dream that one India and one tax will be completed very soon. The GST...

10 Key things about Model GST Law GST is considered to be the biggest Indirect tax reform in India after independence that will result in a single indirect tax for the whole nation and will eliminate...

GST: Relevant Amended Provisions of Constitution of India RELEVANT PROVISIONS OF CONSTITUTION OF INDIA [AS AMENDED BY THE CONSTITUTION (ONE HUNDRED AND FIRST AMENDMENT) BILL, 2016 AS PASSED BY RAJYA S...

Brief Record of the Proceedings of the Meeting of the Rajya Sabha held on the 3 rd August, 2016 on The Constitution (One Hundred and Twenty-second Amendment) Bill, 2016 passed by Rajya Sabha on 03rd A...

WHAT HAPPENED IN RAJYA SABHA ON 3RD AUGUST 2016: IMPORTANT BULLET POINTS:- On Historic Day of 3rd August 2016, Rajya Sabha passed with 203 to 187 votes in favour of “GST – 122nd Constitutional Amendme...

The Prime Minister, Shri Narendra Modi has thanked the leaders and members of all the parties on the occasion of passage of the GST Bill in the Rajya Sabha. Calling GST as the best example of cooperat...

The long-delayed Constitution (122ndAmendment) Bill, 2014 on GST (“122nd CAB” or “GST Bill”) has finally got the nod of the Rajya Sabha yesterday, with the Government successfully stitching together a...

Goods and Services Tax – Overview of Model Law Released in June 2016 One subject which has been in the news in the last few years on the taxation front has been implementation of the Goods and Service...

14 FAQs on Goods and Services Tax (GST) Press Information Bureau Government of India Ministry of Finance Dated: 03-August-2016 Frequently Asked Questions (FAQs) on Goods and Services Tax (GST) Followi...

Highlights of GST Amendments moved by Government Central Govt. to amend clauses 1, 9, 10, 12, 18 & 19 of The Constitution (One Hundred and Twenty-Second Amendment) Bill, 2014 relating to GST Highlight...

Indian federal structure and constitutional powers of states allow both, the Union and States to levy taxes on the subjects in terms of Constitution of India. While there are powers to levy taxes by t...

Highlights of Model GST law, 2016 The model GST law has been released on 14th June, 2016. It outlays the basic structure of the CGST act; SGST acts to be based on the structure laid out. The draft of...

Returns under Model Goods and Service Tax Law 1. Periodicity of Returns a Monthly Return Every registered taxable person, other than composition taxpayer u/s 8 b Quarterly Return Every registered comp...

Registration under Model Goods and Service Tax Law 1. Basic Threshold Limt Every supplier shall be liable to be registered under this Act in the State from where he makes a taxable supply of goods and...

Payments under Model Goods and Service Tax Law 1. Electronic Ledgers of actual Payments made and Input Tax Credit Every registered taxable person will have two types of electronic ledgers showing the...

Key Highlights of Draft Model GST Law Recently, on June 14, 2016, the Government has put the Draft Model GST Law on public domain after getting in-principle nod from the Empowered Committee of State F...

TDS Provisions under Model GST Law Tax Deduction at Source is not a new concept in Indirect Taxes. The TDS Provision were already prescribed in Existing VAT Laws. The Provision of TDS were held Valid...

Dear Professional Colleagues Greetings from Indirect Taxes Committee! The 122nd Constitution (Amendment GST) Bill, 2014 to thoroughly overhaul India’s indirect tax regime has been passed by the Lok Sa...

The Goods & Service Tax (GST) Bill proposes to bring e-commerce entities within the GST net to collect tax at source for all suppliers as well as file a monthly statement of transactions with every su...