GST COUNCIL MEETING ON 3RD AND 4TH NOVEMBER- GST JOURNEY started way back in 2008, came to an end when 122nd Constitutional Amendment was adopted in India paving the way for goods and service tax regime in India – touted as the most important indirect
Understanding GST V/s. VAT 1) Tax / Duty on Manufacturing :- This is applicable only in Excise law, Not applicable in GST, VAT, Service Tax. 2) Tax on Sales:- This is applicable in case of GST, VAT 3) Tax on Stock transfer :- This is
Switching over from composition scheme to normal dealer – Switching over from composition scheme to normal dealer is explained in this article. It may so happen that a dealer is covered under Composition Scheme under present laws either Excise or VAT. That person may switch
GST and GST Model Law- Download the PPT by CA Juhin Ajmera This is presentation by CA Juhin Ajmera GST and GST Model Law. It covers the basic definitions and concepts in GST.
Q 1. What is job-work in GST? Ans. Section 2(62) of the MGL provides that “job-work” means undertaking any treatment or process by a person on goods belonging to another registered taxable person and the expression “job-worker” shall be construed accordingly. This definition is much
GST Along with Bankruptcy Law – The government has been trying to implement two significant economic schemes before the end of 2017 fiscal year namely Bankruptcy law and even more crucial economic reform of Goods and Services Tax. The association has remarked several points regarding
What is the four tier GST structure? The GST Council has proposed a four-tier GST structure starting from 6 percent, two standard rates at 12 and 18 percent and the highest one at 26 percent with a further cess for luxury and demerit goods like
GST Council is formed without having constitution power– All the provisions of The Constitution (101st Amendment) Act, 2016 comes into effect from 16/09/2016. Section 1 is also effective w.e.f. 16/09/16, which gives power to the Central Government to issue notification for effecting the various provisions
