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Securities excluded from GST ambit in revised bill
In a significant relief for stock markets, brokers, banks, and mutual funds, the government has excluded securities from the definition of ‘goods’ in the revised draft Model Goods and Services Tax Law. After this modification securities will be excluded from GST. Section 2(49) of the
Draft Integrated Goods & Services Law, 2016
On 25.11.2016, Central Board of Excise and Custom has issued DRAFT IGST LAW. Draft Integrated goods and services Law contains Eleven Chapters and 24 Sections.Here I have drafted the important provisions of draft integrated Goods and services Law. Inter-State supply of goods and/or services.
New Composition levy in revised Model GST Law
Salient features on new composition levy in revised Model GST draft Basic condition: Registered taxable person covered under the new composition levy will be subject to the provisions of section 8(3) that is the reverse charge. Aggregate turnover in preceding financial year did not increased
CA Shafaly GirdharwalChanges in CGST/SGST levy in Model GST Law
Definition for CGST/SGST levy has been changed in the revised draft of Model GST Law. Erstwhile section 7 of CGST/SGST law has been shifted to section 8 in the revised draft. Some new provisions are inserted into the definition of basic levy. Some new kind
CA Shafaly GirdharwalComposite and mixed supply in revised GST law
Relevance of composite and mixed supply in revised draft of Model GST law: Composite and mixed supply both of these terms have been inserted into the definition of supply. Section 3 of the Model GST law covers the Composite and mixed supply in its sub
CA Shafaly GirdharwalRevised Model GST law schedule III
Definition of supply in revised model GST draft provide covers the Schedule III and IV. Schedule III mentions the activities or transactions which shall be treated neither as a supply of goods nor services. In the earlier law these provisions were covered in the definition
CA Shafaly GirdharwalRevised Model GST Law Schedule IV
Schedule IV of revised Model GST draft law has been mentioned by the definition of supply. Schedule IV covers the activities or transactions by the CG,SG or any local authority which shall be treated neither as a supply of Goods nor as services. These transactions
CA Shafaly GirdharwalRegistration in revised Model GST law: PPT
This is the revised presentation on registration in Model GST Law. Revised Model GST law has been released on public domain. Provisions of registration under GST were earlier covered by section 19 of The model GST Law. In the revised law these provisions have been
CA Shafaly GirdharwalSCHEDULE II of revised draft GST Model law
Revised model GST law has inserted Schedule II into the definition of term Supply which covers the matters to be treated as supply of goods or services.Here we will provide the text of Schedule II as given in revised draft of Model GST law. An
CA Shafaly GirdharwalSupply in new model GST Law
Supply is the taxable event for the levy of GST. The definition of supply has been changed to include some more clarity and type of transactions. The new definition of supply in new model GST law is given in section 3. Meaning and scope of
CA Shafaly GirdharwalDraft of revised Model IGST law
Here we have uploaded the New revised model IGST law. It is published by the government of India. It will replace the earlier law which was released in June . This new draft publish in November 2016 will be passed by the parliament of India.
CA Shafaly GirdharwalThe Major Changes In The New Model GST Law
New Model GST law is on public domain now. Here I have compiled the major changes in the proposed draft. 1) Exclusion Of Securities- Government has now specifically excluded securities from the definition of ‘goods’ under Section 2(49) and ‘services’ under Section 2(92) of the