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Place of supply in revised model GST Law
Place of supply in revised IGST law CHAPTER– IV of revised IGST law provide for the place of supply in detail. There are four section in this Chapter. Revised IGST Law also provide for the place of supply in case of import and export of
CA Shafaly GirdharwalWhat is aggregate turnover in GST?
What is an aggregate turnover in GST? Aggregate turnover is the criterion for many compliances. It is the limit we check for various thresholds in GST. It is defined in Section 2(6) of CGST Act. “(6) “aggregate turnover” means the aggregate value of all taxable supplies
CA Shafaly GirdharwalZero rated supply under revised IGST law
Meaning of zero rated supply: Section 16 of revised IGST Act provide for the Zero rated supply. This section will cover the provisions related to the benefit provided to the exporters. “zero rated supply” means any of the following taxable supply of goods and/or services, namely
CA Shafaly GirdharwalAvailability of Input tax credit in special cases
Section of the revised draft of Model GST law provide for the availability of ITC in special cases. We can sum up all of them in the following table. Download PDF here Following is the brief table on availability of ITC in special Cases. Special
CA Shafaly GirdharwalFifth meeting of GST Council dissolved without outcome
No output in Fifth meeting of GST council There is no go though in the fifth meeting of GST council today. Collusion between the center and state is no coming to an end. Main point of contention was the jurisdiction over the service tax assesses.
CA Shafaly GirdharwalMain Issues with revised Model GST Law
In my last my take I wrote GST is good economics but demonetization was perhaps not. Today, I repeat the same thing. If GST is deferred the “differential advantage” that the Union Government wanted to possess, is simply gone. States also must realize this. Today’
Input tax credit availability in revised GST Law
GST was introduced in India as a resource for free flow of credit in India. Input tax credit availability in revised Model GST draft law is somehow more restricted then the earlier draft. In this article we will discuss the availability of ITC and what
CA Shafaly GirdharwalInput tax credit on goods sent for job work
Section 20 of revised Model Law provide for the input tax credit in respect of goods sent for job work. Salient features of the scheme of input tax credit on goods sent for job work are as follows.Provisions for removal of inputs and capitals goods
CA Shafaly GirdharwalJob work in revised Model GST Law
Section 20 of chapter V and section 55 of chapter XIII of revised model GST draft covers the provisions of job work. The term itself is defined in section 2(61) of revised Model GST draft law. Section 2(61) defines a job work as “job work”
CA Shafaly GirdharwalRestriction on Input Tax Credit in GST draft
Revised draft of Model GST Law has been on public domain now. There are some changes in the provisions of ITC. New restrictions are there on input tax credit in GST revised draft. The main reason for emergence of GST was free flow of Input
CA Shafaly GirdharwalE-commerce operators in new Modle GST law
Revised draft of revised Model GST law is released by cbec some days back. On first time reading we found that e-commerce operators are going to have a sigh of relief after changes in law. E-commerce operators were segregated in two parts in earlier law.
CA Shafaly GirdharwalIGST levy in revised model GST Law
There will two type of transactions covered in GST namely intra state and inter state. On these two type of transaction three taxes will be levied, namely CGST, SGST and IGST. CGST and SGST will be levied on intra state transactions whereas IGST will be
CA Shafaly Girdharwal