GST fliers

  • 30224

Integrated Goods and Services Tax Act

January 18th, 2018|0 Comments

The introduction of Goods and Services Tax (GST) is a significant reform in the field of indirect taxes in our country. Multiple taxes levied [...]

  • 29885

Returns in GST

January 18th, 2018|0 Comments

Returns in GST The basic features of the return mechanism in GST includes electronic filing of returns, uploading of invoice level information, auto-population of [...]

  • 29853

Transition Provisions under GST

January 18th, 2018|0 Comments

GST is a significant reform in the field of indirect taxes in our country. Multiple taxes levied and collected by the Centre and States [...]

  • 29852

Input Tax Credit Mechanism in GST

January 18th, 2018|0 Comments

Uninterrupted and seamless chain of input tax credit (hereinafter referred to as, "ITC") is one of the key features of Goods and Services Tax. [...]

  • 29851

Electronic Way Bill in GST

January 18th, 2018|0 Comments

Introduction A waybill is a receipt or a document issued by a carrier giving details and instructions relating to the shipment of a consignment [...]

  • 29850

Electronic Cash/Credit Ledgers and Liability Register in GST

January 18th, 2018|0 Comments

Introduction: On the common portal each registered taxpayer will have one electronic register called the Electronic liability register and two electronic ledgers namely Electronic [...]

  • 29660

The Meaning and Scope of Supply

January 15th, 2018|0 Comments

The taxable event in GST is supply of goods or services or both. Various taxable events like manufacture, sale, rendering of service, purchase, entry [...]

  • 29679

Reverse Charge Mechanism in GST

January 15th, 2018|0 Comments

Generally, the supplier of goods or services is liable to pay GST. However, in specified cases like imports and other notified supplies, the liability [...]

  • 29678

Works Contract in GST

January 15th, 2018|0 Comments

Introduction: What is a works contract? Simply put, a works contract is essentially a contract of service which may also involve supply of goods [...]

  • 29677

Valuation in GST

January 15th, 2018|0 Comments

Value of Supply Every fiscal statue makes provision for determination of value as tax is normally payable on ad-valorem basis. In GST also, tax [...]

  • 29676

Time of Supply in GST

January 15th, 2018|0 Comments

Time of Supply In order to calculate and discharge tax liability it is important to know the date when the tax liability arises i.e. [...]

  • 29671

TDS Mechanism under GST

January 15th, 2018|0 Comments

Under the GST regime, section 51 of the CGST Act, 2017 prescribes the authority and procedure for ‘Tax Deduction at Source’. The Government may [...]

  • 29669

Statement of Outward Supplies (GSTR-1) in GST

January 15th, 2018|0 Comments

Introduction: FORM GSTR-1 is a statement of the details of outward supplies (i.e. sales of goods or provision of services) of goods or services [...]

  • 29670

Special Audit in GST

January 15th, 2018|0 Comments

Introduction: GST is a trust based taxation regime wherein the assessee is required to self-assess his returns and determine tax liability without any intervention [...]

  • 29668

Refunds under GST

January 15th, 2018|0 Comments

INTRODUCTION Timely refund mechanism is essential in tax administration, as it facilitates trade through release of blocked funds for working capital, expansion and modernization [...]

  • 29655

Refund of unutilised Input Tax Credit (ITC)

January 15th, 2018|0 Comments

Accumulation of Input Tax Credit happens when the tax paid on inputs is more than the output tax liability. Such accumulation will have to [...]

  • 29654

Refund of Integrated Tax paid on account of zero rated supplies

January 15th, 2018|0 Comments

Under GST, Exports and supplies to SEZ are zero rated as per section 16 of the IGST Act, 2017. By zero rating it is [...]

  • 29656

National Anti-Profiteering Authority in GST

January 15th, 2018|0 Comments

Introduction: Any reduction in rate of tax on any supply of goods or services or the benefit of input tax credit should have been [...]

  • 29653

Margin Scheme in GST

January 15th, 2018|0 Comments

Normally GST is charged on the transaction value of the goods. However, in respect of second hand goods, a person dealing is such goods [...]

  • 29652

Job Work under GST

January 15th, 2018|0 Comments

Introduction Job-work sector constitutes a significant industry in Indian economy. It includes outsourced activities that may or may not culminate into manufacture. The term [...]

  • 29643

Input Service Distributor in GST

January 15th, 2018|0 Comments

Introduction Input Service Distributor (ISD) means an office of the supplier of goods or services or both which receives tax invoices towards receipt of [...]

  • 29632

Debit Note in GST

January 15th, 2018|0 Comments

Introduction: A supplier of goods or services or both is mandatorily required to issue a tax invoice. However, during the course of trade or [...]

  • 29631

Concept of Aggregate Turnover in GST

January 15th, 2018|0 Comments

Turnover, in common parlance, is the total volume of a business. The term ‘aggregate turnover’ has been defined in GST law as under: “aggregate [...]

  • 29630

Composite Supply and Mixed Supply

January 15th, 2018|0 Comments

Introduction The taxable event under GST is supply of goods or services or both. GST will be payable on every supply of goods or [...]

  • 29629

Compensation cess in GST

January 15th, 2018|0 Comments

Introduction: Goods and Services Tax (Compensation to States) Act, 2017 was enacted to levy Compensation cess for providing compensation to the States for the [...]

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