Expert Knowledge,
Straight from Practitioners.

Important Points relating to Tax Invoice as Per Section 23 of the Model GST Law

1) At present, invoices or bills of sale etc. can be issued inclusive of tax in certain cases, whereas it is mandatory to indicate the tax charged in the GST regime. 2) Revised invoice shall be raised by the registered taxable person against the invoice

Registration provision-section 19 of GST Model Law

This presentation is made by CA Navneet Kumar Gupta . A renowned practicing CA analysing the provisions of registration under GST regime.

Time of supply in case of change in rate of tax under GST

Time of supply is POT in GST regime which has replaced the all other POT in different Laws. In case of service tax taxpayer face a problem in past when there is change in tax rate. In GST regime the Law has specifically provided for

CA Shafaly Girdharwal

Sep 20, 2016

Registration under Goods and Service Tax Act, 2016: By CA Prabhat Agrawal

How to do Concurrent Audit of a Bank- 3Qs & 3Cs

Most of the young chartered Accountants always dwell in the Question “How to do concurrent Audit of a Bank.” There are many reasons of this anxiety they possess for concurrent audits, Such as Lack of experience, Lack of opportunities, Lack of confidence etc. Here in

Financial consultants including Chartered accounts to give their details in ITR of clients

Financial consultants including CA’s will have to provide their names and registration numbers while filing for their client’s income tax declaration from next year.The government will make changes in the forms of ITR to include such information. This will help crack down on fake consultants

Good Example showing how to Claim Input Tax Credit under GST

X Ltd supplies manufactured goods to Y Ltd for Rs 5000 in April 2017; CGST thereon is, say, Rs 500 assuming Tax Rate 10%. Unfortunately X Ltd did not furnish these details in its outward supply to Y Ltd. While matching the credit, Y Ltd

Important Point Related To Debit Note or Credit Note as Per Section 24 of the Model GST Law

Important Point Related To Debit Note or Credit Note as Per Section 24 of the Model GST Law 1) Tax Charged/ Taxable Value > or <  Tax Charged/ Taxable Value (w.r.t. that supply), then Credit Note or Debit Note is required to be issued. 2)

GST Glossary: Levy of GST on inter state supply

IGST Act of GST Model law defines the levy of GST on inter state supplies. Section 4 of said Act reads as  “(1) There shall be levied a tax called the Integrated Goods and Services Tax on all supplies of goods and/or services made in the

GST Glossary: Levy of GST on intra state supplies

Section 7 of SCST/CGST Act of Model GST Law provide for the levy of GST on intra state supply. Section reads as” “Levy and Collection of Central/State Goods and Services Tax (1) There shall be levied a tax called the Central/State Goods and Services Tax

GST Glossary: Meaning and provisions of “non-resident taxable person” under GST Model Law

As we are aware that GST will also be applicable on non – resident. he most important question is that who will the non resident taxable person for the levy of GST. Section 2(69) of Model GST Law defines it as “a taxable person who

GST Glossary: Definition and meaning of “Taxable Person” under GST Model law

Section 2(96) read with section 9 of Model GST Law defines the taxable person as “(1) 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