The Indirect Tax department released the rate schedule for 1,211 goods on Thursday Evening (18th May 2017). The list, approved by the GST Council. All the Goods have been covered by the GST Council on Thursday Meeting (18th May 2017). Here are complete summary of [Read More]
Place of supply of services in case of IGST Significance of place of supply in IGST According to section 4 of the act there shall be levied a tax called the Integrated Goods and Services Tax on all supplies of [Read More]
GSTTHREAD GST Software, Knowledge-base, Forums, Blogs & many more… https://www.gstthread.com Dear Sir / Madam,Sensys Technologies is pleased to announce Launch of its new, fully-featured GST website https://www.gstthread.com GSTTHREAD.com offers, a complete Software on GST – GSTTHREAD, with more flexibility, stability [Read More]
Returns of outward supplies under the GST Regime The purpose of this article is to create awareness about the soon to be implemented Goods and Service Tax in India. This article deals with various aspects of return of outward supplies [Read More]
Due dates for the Month of May 2017 5th Service Tax – Service Tax payments by Companies for April Central Excise# – Duty Payment for all Assessees other than SSI Units for April 7th Income Tax – TDS Payment for [Read More]
Meaning of profiteering: It is a situation where a person seeks or exacts exorbitant profits without adding value to the supply or adding lesser value in the supply as compared to price charged. Under such situations profits are earned as [Read More]
Due dates for the Month of April 2017 10th Central Excise – Monthly Return in Form ER-1 (Ann-12) for other than units availing SSI exemption for March – Monthly Return in Form ER-2 (Ann-13) by 100% EOUs for March – [Read More]
UNION CABINET APPROVES 4 GST BILL The Union Cabinet has cleared four bills related to the Goods and Services Tax (GST), ahead of their introduction in Parliament, to enable roll out of the tax reform from July 1. Approval of [Read More]
Why there is a need to differentiate between goods and services? Different rate of tax and classification rule for goods and services: The goods are to be classified as per HSN codes and services are to be classified as per [Read More]
High Seas Sale of goods under GST Meaning of term High Seas Sale High Sea Sales (HSS) is a sale carried out by the carrier document consignee to another buyer while the goods are yet on high seas. Goods on [Read More]