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GST ComplianceEligibility on Input tax credit under GST on inputs held in stock
Section 16 of Model GST law provide for the input tax credit under GST. Manner to utilize input tax credit is given under section 35 of Model GST Law. Section 16 also provide for eligibility of input tax credit on inputs held in stock and
CA Shafaly GirdharwalHow GST will Help the Poor Population In India
Most of the poor states are those which are not industrialized. The examples are UP, Bihar, West Bengal, MP, Rajasthan etc. These states are only the consumers of goods and services rather than the producers/manufacturer. GST is a destination based tax. This means that tax
GST ComplianceCritical analysis of provision for registration under GST Model Law
Section 9 of CGST/SGST Act speaks about the registration. (Although it belongs to taxable person). It reads as “Taxable Person means a person who carries on any business at any place in India /State of ____ and who is registered or required to be registered under Schedule III of this
CA Shafaly GirdharwalIn Case of Import IGST to be Charged at What Value?
As per the Model GST Law, the GST should be payable on the transaction value of imported goods plus any duties/ taxes, etc, levied under any statute other than the GST laws. This should mean that while paying IGST on the imported goods, basic customs
GST ComplianceInput tax credit under GST: Chapter V of model GST Law
Chapter V of CGST/SGST Act covers the provision of input tax credit under GST. Section 16 provide for the basic provisions for ITC. Credit to electronic ledger: As per section 16(1) every taxpayer is eligible to take the credit of taxes paid subject to provisions
CA Shafaly Girdharwal
GST ComplianceGST Model Law: Determination of place of supply of Goods and services
All of us are now getting the basic idea about GST. There will be two types of taxes first a set of CGST +SGST and other is IGST. Each transaction will be classified in either intra state or interstate supply of Goods or services. Your
CA Shafaly GirdharwalGST ComplianceICAI releases the background material for GST
ICAI has released the background material for GST which is very useful to understand the GST. You can buy it from the following link. https://icaionlinestore.org/indirect-taxes-committee
GST ComplianceHow GST is going to make an adverse impact on service sector
We all know that GST is going to be a biggest reform but it’s not a win win situation for everyone. Especially the service sector is going to face some heat because of GST. Let us discuss some important points that are going to hurt
CA Shafaly GirdharwalModel GST Law 2016: returns and Input tax credit maching mechanism
GST is going to be a reality very soon. Under new Law process of filing return and to claim input tax credit will be more transparent. Each and every Invoice will be matched with each other. Although final responsibility will be on Goods/services recipient even
CA Shafaly Girdharwal
GST Compliance26 FAQ’s on GST covering Transition, registration, filing of returns and input tax credit
GST Act was passed by Rajya Sabha yesterday and today it is again presented at Lok Sabha. There are some more steps to go and hopefully it will be a legislation very soon. Our finance minister is expecting to roll out GST by 1st April
CA Shafaly GirdharwalGST Compliance10 Things you should know about the GST IT set up
GST is going to be a reality very soon. Government has already bow down to the demand of opposition and states and final draft has been rotated.Every taxpayer under GST will face two major tasks, first is of migration and second is of payment
CA Shafaly GirdharwalRegistration under Haryana VAT: List of documents required to be uploaded
Here we are providing the list of documents required to be uploaded under Haryana Vat registration.Before starting upload compile all documents at one place. Take care of these two things File size of every document should be less than 1 MB. Convert all documents into
CA Shafaly Girdharwal