Provisions for GST migration are covered in chapter XXVII –Transitional Provisions This chapter contains sections from 165 to 197 covering the wide range for the provisions for each and every situation of GST migration. Section 165 and 166 provide for the migration of staff and
Special provision for payment of tax by a supplier of online information and database access or retrieval services located outside India to specified person in the taxable territory. Definition of online information and database access or retrieval services in GST. These are the new type of
Taxation Second Amendment Bill, 2016: 11 things to know for disclosure of black money The Government announced demonetization of existing currency of Rs 500/1000 as a step forward to curb black money with effect from the 9th November, 2016. However, concerns have been raised that
Revised provisions covering import and export of Goods and /or services There are major changes in the revised draft of Model GST law meaning of import and export of Goods. Section 3 and section 4 of IGST Act have been modified to cover the import
GST migration is nothing but transfer of existing client data from older system to the new system (GST system). The objective is to help existing clients to do business without any hassle, sort out inconsistencies and get ready for smooth transition towards the implementation on
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
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
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
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
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.
