GST Compliance Process Simplified
- October 7, 2017
- Posted by: SosAdmin)
- Category: GST
No CommentsIn a series of announcements the GST Council on Friday 6-Oct simplified the compliance requirements for GST. The far reaching changes in GST are designed to ease the burden of SMEs and exporters. Composition Scheme turnover limit extended- The turnover limit for businesses to register under the composition scheme has been extended from current Rs.Input Tax Credit Under Model GST Law-Part2
- April 9, 2017
- Posted by: SosAdmin)
- Category: GST
For following scenarios and circumstances specific provisions have been given When the person is liable for registration for first time? In this situation, if the person applies for registration within thirty days then input tax credit can be in respect of inputs held in stock and inputs contained in semi-finished or finished goods held in
Input Tax Credit Under Model GST Law-Part1
- April 8, 2017
- Posted by: SosAdmin)
- Category: GST
Who is Eligible to Take Input Tax Credit? Every registered dealer subject to conditions and restrictions as prescribed in the act is entitled to take credit on any supply of goods or services to him which are used in the course or furtherance of his business and the said amount will be credited to electronic
When IGST is applicable?
- March 30, 2017
- Posted by: SosAdmin)
- Category: GST
IGST is applicable on following types of transaction: When there is supply of goods or services in the course of inter-state trade or commerce and the location of the supplier and the place of supply are in different states. Supply of goods in the course of import into the territory of India till they cross
Composition of Levy Under GST
- March 28, 2017
- Posted by: SosAdmin)
- Category: GST
The condition to opt for composition we will be only available if the aggregate turnover in the preceding financial year did not exceed INR 50 lakhs. Following categories of taxable person will be not allowed to opt for compositionWho is engaged in the supply of services? Who makes any supply of goods which are not
Transitional Provisions under GST Part9 –When There is a Revision in Return After GST becomes effective
- March 14, 2017
- Posted by: SosAdmin)
- Category: GST
There could be a situation when a return filed by registered taxable person with regard to the Service Tax or Excise Duty or VAT undergoes revision. In such a scenario, the question arises how to treat additional tax or refund of taxes? The above situation is addressed by section 185 of Model GST Law Treatment
Transitional Provisions under GST Part8 –Treatment of ServiceTax, Excise Duty and VAT Output Under Dispute
- March 14, 2017
- Posted by: SosAdmin)
- Category: GST
There could be a situation where there is a dispute between the department and registered taxable person with regard to the amount of Service Tax or Excise Duty or VAT Output Liability. In such a scenario, the question arises how such dispute, appeal or review will be settled under GST? The above situation is addressed
Transitional Provisions under GST Part7 –Treatment of Tax Amount
- March 13, 2017
- Posted by: SosAdmin)
- Category: GST
There could be a situation where there is a dispute between the department and registered taxable person with regard to the amount Cenvat credit or Input Tax credit. In such a scenario, the question arises how such dispute, appeal or review will be settled under GST? The above situation is addressed by section 182 of
Transitional Provisions under GST Part6 –Treatment of Claim for Refund Pertaining to Taxes Paid Earlier
- March 13, 2017
- Posted by: SosAdmin)
- Category: GST
There could be a situation where refund has to be claimed for amount of cenvat credit or input tax credit paid before GST once becomes effective. This situation is addressed by section 179 of GST Law Refund of Cenvat Credit, Taxes or Interest Paid under CGST In such a scenario, every claim for refund filed
Transitional Provisions under GST Part5 –Treatment of Change in Price of Services and Goods After GST is implemented
- March 12, 2017
- Posted by: SosAdmin)
- Category: GST
There could be a situation where price of goods or services are revised after GST is implemented. In this situation, question arises what will be treatment of such goods or services? The above situation is addressed by section 178 of Model GST Law Upwards Revision in Price of Goods and Services under CGST and SGST
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