Impact of GST on Traders Traders are those taxable person who purchase goods for resale. Here an attempt is made to analyze impact of GST on traders. Intra state sale of goods and / or services Like in existing vat [Read More]
Mar 072017
Mar 062017
Due dates for the Month of March 2017 5th Service Tax – Service Tax payments by Companies for February Central Excise# – Duty Payment for all Assessees other than SSI Units for February 7th Income Tax – TDS Payment for [Read More]
Mar 022017
GST Valuation (Determination of value of supply of Goods and services) Rules 2016 Valuation norms under GST under normal circumstances: The value taken for calculation of GST is the price actually paid by recipient of goods / service to the [Read More]
Feb 252017
What is composition? Composition means to receive less than for what a person or authority entitled for. Composition provisions under taxing laws are made to give relief to the small traders from the tactical booking keeping and return formalities of [Read More]
Feb 162017
Significance of place of supply in IGST taxation IGST stands for Integrated Goods and Service Tax. Supplies where location of supplier and place of supply are in different taxing state will come under the levy of IGST. Thus, determination of [Read More]
Feb 142017
Transitional Provisions As we all know that process of migration of existing taxpayers under different indirect taxation laws to GST system in at pace and this migration results in too many legal issues to be resolved. Under the existing provision [Read More]
Feb 132017
Payment of taxes under GST Payments that are to be made under GST (Sec 44): For any intra-state supply, taxes to be paid are the Central GST (CGST, going into the account of the Central Government) and The State GST [Read More]
Feb 082017
Due dates for the Month of February 2017 5th Service Tax – Service Tax payments by Companies for January Central Excise – Duty Payment for all Assessees other than SSI Units for January 7th Income Tax – TDS Payment for [Read More]
Feb 082017
Input service distributor under GST Who is input service distributor? As per section 2(54) of the model GST law – “Input Service Distributor” means an office of the supplier of goods and / or services which receives tax invoices issued [Read More]
Feb 072017
Meaning and significance of supply under GST Supply – Taxable event: As per section 8(1) of the revised GST act, the supply of goods or services is a taxable event. It states that – There shall be levied a tax [Read More]