Taxability and Valuation of free supplies under GST Act
Taxability and Valuation of Free Supplies is subject matter of Dispute. Term “Free Supply” is not defined under GST Act, however in general sense Free
CGST
Input Tax Credit Mechanism Under The New GST Return System
Overview: The new GST return system or GST 2.0 was proposed by Shri Nandan Nilekani and is applicable for all regular taxpayers. As per the
Concept Note: Free issue of materials to Contractors under GST
Before we start: Company X has been awarded a contract by Maharashtra State Road Development Corporation Limited (MSRDC) for construction of ‘Versova Bandra Sea Link
Reverse Charge under GST, Reverse Charge Mechanism under GST
Reverse Charge under GST, Reverse Charge Mechanism under GST – “Reverse Charge” means the liability to pay tax by the recipient of goods or services or
Reverse Levy on Supplies from Unregistered Persons in GST Regime
Reverse Levy on Supplies from Unregistered Persons under GST Regime. We welcome the Constitutional Amendment (GST) Bill passed by the Parliament. This is one of
When consideration is not wholly in money (valuation of supply)
When consideration is not wholly in money (valuation of supply under GST): Rule 27: Value of supply of goods or services where the consideration is
Benefits of GST in India, Check Benefits of Goods and Service Tax
Benefits of GST in India, Check Benefits of Goods and Service Tax. Check GST Benefits. GST is expected to give a major relief to industry,
Meaning and Scope of the words Goods and Service under GST
Meaning and Scope of the Words Goods and Service under GST. The GST will subsume two major indirect taxes namely sales tax/value added tax imposed on
Really A Good and Simple Tax?, Check practical problems faced in GST
Really A Good and Simple Tax?: A tax should never be a fine for doing right. In these almost 9 months, the definition of “Good and
GST Refund – Refund Procedure under GST, Role of CMA & CA
Refund is a very important term used under GST for the person who is eligible to claim the refund and for the GST Authority who
Legal Provisions for Anti Profiteering in CGST Act & Analysis thereof
Legal Provisions for Anti Profiteering in CGST Act & Analysis thereof – We are going to witness biggest indirect tax reform in the history of independent
GST Composition Formats 2021, Forms for Composition Scheme (Updated)
GST Composition Formats, Download GST Composition Scheme Forms 2018. Chapter II of Central Goods & Services Tax Rules, 2018 specify Composition Rules which lay down the
Reimbursements under GST – A Different Viewpoint (an analysis)
Reimbursements under GST: Valuation rules under GST provides that reimbursement of expenses are subject to GST unless such expenditure is incurred as a ‘Pure agent’.
Whether Del Creder Agent (DCA) is termed as Agent under GST
Whether Del Creder Agent (DCA) is termed as Agent under GST Issues regarding differentiation of DCA from other agents In commercial trade parlance, a DCA
What is GST?, What is Goods and Service Tax, GST and India 2021
What is GST?, What is Goods and Service Tax, GST and India. The Goods and Services Tax, Globally known as VAT or GST is levied on
Non resident taxable person: Registration, Returns, Refund, ITC
Non resident taxable person in GST means any person who occasionally undertakes transactions involving supply of goods or services or both, whether as principal or agent
Filing Payment Related Grievances (PMT-07) at GST Portal (gst.gov.in)
Step by step guide for Filing Payment Related Grievances (PMT-07) at GST Portal (gst.gov.in): How can I submit grievances / complaints regarding GST Portal? OR
Valuation in GST, Valuation in Service tax and other Valuation Rules
Valuation in GST: The Valuation under Central Excise law was very much complicated. Section 4 of the Central Excise Act dealt with valuation provisions and
All About the Concept of Distinct Person in GST (An Analysis)
All About the Concept of Distinct Person in GST, Distinct Persons by reference to how CGST Credit of one state cannot be used in other state.
How things were Pre GST and Post GST for Tourism Sector? (Analysis)
How things were Pre GST and Post GST for Tourism Sector? Analysis for How things are Under GST for Indian Tourism?. Tourism represents world’s third largest export
Bill to Ship Transactions and its Place of supply in GST regime
Bill to Ship Transactions and its Place of supply in GST regime: In today’s business Bill to – ship transactions are often occurrence. The main
GST Exemptions to health care professionals – Our COVID 19 Warriors
In the global war against coronavirus, doctors, nurses, pathologists and paramedics, ambulance drivers, medical cleaners and hospital administrators etc. are risking their lives in the
Key points of Reverse Charge Mechanism under GST Law
Key points of Reverse Charge Mechanism under GST Law: Generally, the supplier of goods or services is liable to pay GST. However, in specified cases
Kind of Assessment in GST, Types of assessment under GST Regime
Kind of Assessment in GST: Assessment of GST returns have been defined in Chapter- XII under section 59 to 64 of the CGST Act, 2017.
SEZ Migration to GST: Statutory Provision, Tax Effect, Possible Solution
SEZ Migration to GST: It is of paramount importance to understand the meaning of goods in any taxing statute related to goods. The meaning of
Areas where excess credit may be taken and special audit of that area’s
Areas where excess credit may be taken and special audit of that area’s: Direction for special audit can be given only if officer is of
Valuation of Beti Bachao Beti Padhao Campaign under IGST Act
Valuation of Beti Bachao Beti Padhao Campaign under IGST Act: Valuation of Goods or Service has always been a challenge. Under Central excise also valuation
18% GST on salary paid for services by a firm to its branch offices in other states
18% GST on salary paid for services by a firm to its branch offices in other states, rules AAR. Salary for services such as accounting, IT,
Credit Note under GST: Introduction, Meaning, Adjustment of tax liability
Credit Note under GST:– Where a tax invoice has been issued for supply of any goods or services or both and the taxable value or
GST on Education Services – GST Rates, HSN Codes (Detailed)
GST on Education Services: “Education” is not defined in the CGST Act but as per Apex Court decision in “Loka Shikshana Trust v/s CIT”, education