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GST Valuation rules released by GSTIN
GST Valuation rules released GST Valuation rules are released. These rules contains the provisions for determination of value of a supply in various scenarios. The major provisions covered in GST valuation rules are: Valueof supply of goods or services where the consideration is not wholly
GST ITC rules released by GSTIN
GST ITC rules released by GSTIN: These rules contains the various provisions related to ITC. These GST ITC rules contains all major provisions related to ITC. Main provisions covered under there rules are: Documentary requirements and conditions for claiming input tax credit Reversal of input
New restrictions in composition rules
New restriction in composition rules released: New set of rules released for a composition dealer has put new restrictions in composition scheme. Following are the conditions for composition scheme as given in rules: The person exercising the option to pay tax under section 10 shall
GST rules for composition
GST rules for composition: GSTIN has released the GST rules for composition. These rules contains all the important rules related to composition levy. Intimation for composition levy Any person who has been granted registration on a provisional basis under sub-rule (1) of rule Registration.16 and
Inter state and intra state supplies in IGST Act
Significance of Inter state and intra state supplies in GST In the GST regime there are two type of supplies. The tax you need to pay will be decided by the type of supply. A supply can be inter state or intra state supply. Section
Summary of IGST bill passed in parliament
IGST bill passed in parliament: IGST bill is passed in parliament of India on 29th March 2017. You are now liable to pay IGST on all inter state and international supplies. IGST stands for the integrated Goods and services tax. For all intra state supplies
Summary of CGST bill passed in parliament
CGST Bill passed in parliament: Salient features CGST bill passed in parliament on 29th March 2017. It contains XXI chapters,174 sections and Three schedules. Chapter wise details of CGST bill Chapter in CGST bill Sections covered Provisions Chapter I Section 1&2 Preliminary Chapter II Section
GST ComplianceGST on purchase from unregistered dealer
GST on purchase from unregistered dealer Edit on 30.06.2017: A new notification is issued by the CBEC which says that daily limit for chargeability of this levy will be Rs. 5000 per day and a consolidated invoice can be prepared.(Click here to see notification) [embedyt]
How GST is going to hurt small entities
Tax on all supplies from small entities The latest provisions in GST are going to hurt the small entities.In the last draft of CGST which is approved in parliament. Section stand for levy and sub section 9(4) provide for payment of GST by recipient. Every
GST bill passed in parliament
GST bill passed in Parliament: It is a big day for India as the GST bill passed in Parliament.The basic structure of GST is that center and state both charge tax on every supply. There are four type of bills: CGST passed by parliament today.
Principles for Determining Supply of Goods/Services in the Course of Interstate Trade or Commerce
The purpose of this article is to spread awareness about the soon to be implemented Goods and Service Tax in India.
Liability to pay in certain special cases under the proposed GST Regime-2
The purpose of this article is to spread awareness about the soon to be implemented Goods and Service Tax in India. This is the first article of the series of articles covering liability in special cases under GST as enshrined in the Model Law.