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Transitional provisions under GST-Part II
Transitional provisions under GST law (MGL)-Part II In our last article we discussed 5 issues that may arise on transition to GST law for existing tax payers. The 5 issues are summarized as below: Migration of existing taxpayers for registration under GST law; Carry forward
FAQs:Transitional provisions under Revised MGL
Transitional provisions in GST: What is the significance of migration process? Migration of existing registered persons into the GST is an exercise for updation and validation of data of existing taxpayers registered with various tax authorities for use at GST Network (GSTN) post implementation of
GST ComplianceOffence and penalties in GST Model law
Penalties in GST Let us start from a brief on penalties in GST first. Then we will drill down to all offences which will fetch that penalty. Note: You can download this article in PDF.See link in the end of post. 1) Registered taxable person
CA Shafaly GirdharwalGST impact on various components of business
Deepak Arya Manager | Assurance & Taxation RAPG & Co. | Chartered Accountants CA Neeraj Kumar, Fellow member of ICAI,Partner M/s RAPG & Co., Chartered Accountants, Rohini, Delhi GST Impact: In our earlier posts, we discussed about registration, input tax credit, export, etc. Now, in
GST CompliancePlace of Provision of Service Rules, 2012 (POPS)
How to determine the location for the purpose of Place of Provision of Service Rules, 2012 (POPS Rules, 2012) Applicable from 01.07.2012, Section 66B of the Finance Act, 1994 provides that service tax shall be leviable on the value of service provided or agreed to be
GST impact on Education and Training Industry
GST impact on education and training industry For the implementation of GST from July,2017 , Draft law of GST compensation has been approved by the GST council in 10th meeting. Now, three crucial draft laws — Central GST (CGST), Integrated GST (IGST) and State GST
Levy of, and Exemption from, GST
There shall be levied a tax called the Central/State Goods and Services Tax (CGST/SGST) on all intra-State supplies of goods and/or services on the value determined under section 15 and at such rates as may be notified by the Central/State Government in this behalf, but not exceeding
supply: Meaning and scope in GST
Supply : the taxable event in GST Determination of the taxable event in any tax law is of utmost significance as the levy of tax is based on occurrence of that event. In the Model GST Law, a uniform and single taxable event ‘supply’ would
Time of Supply of Goods & Services
A detailed analysis of Section 12 for time of supply in GST As per Section 12 (1) of Model GST law the liability to pay CGST / SGST on the goods or services shall arise at the time of supply . The time of supply shall
INSOLVENCY AND BANKRUPTCY CODE 2016
INSOLVENCY AND BANKRUPTCY CODE 2016 In India, there was no single law which could deal with Insolvency and Bankruptcy laws. Under the previous law i.e. Sick Industrial Companies (Special Provision) Act, 1985, the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act,
Simplified guide on filing of returns in GST
Basic flow for filing of returns in GST: Although there are various returns in GST. Formats for the returns in GST are already on public domain.Broadly the entire exercise of filing of returns in GST can be segregated into five parts: Filing of return Matching
CA Shafaly GirdharwalImportance of distinct person in GST
How Distinct person in GST will change the way we look at a business entity: In all the central indirect taxes we pay a business entity is seen as consolidated. Untill the introduction of GST the taxable events were different activities. Which tax you need
CA Shafaly Girdharwal