Bond and LUT w.e.f 4th October 2017 under GST for export 1.1 Who is eligible for Letter of undertaking- With effect from 4th October 2017 the facility of export of goods and/or services under LUT has now been extended …
14 FAQs on TDS under GST applicable from 18th September 2017 TDS (Tax deducted at source) is not a new concept under GST. It is also there in Income Tax Act, 1961, but associated provisions governing the same under …
Brief Introduction We were waiting for GST for a decade and at this moment we are already in the GST regime. The taxation of GST can be sequentially observed in following 10 steps : Is It a Supply? Is it …
Question 1: Whether advertising and communication material (banners/hoardings/posters) provided to distributors would be treated as supply in the course of business by the company thereby not requiring any reversal of ITC. Answer: (a) Where the material is provided free of cost: This …
Input Tax Credit under GST – 30 Important Questions Answered! 1) What is input tax? “Input tax” has been defined in section 2 (57) of the MGL (Model GST Law) and section 2 (1) (d) of the IGST Act. Input …
Aggregate Turnover in GST 1. Turnover, in common parlance, is the total volume of a business. The term ‘aggregate turnover’ has been defined in GST law as under: “Aggregate turnover” means the aggregate value of all taxable supplies (excluding …
Govt. allows refund of CGST and IGST to eligible units situated in Excise Free Zones Press Information Bureau Government of India Ministry of Commerce & Industry 16-August-2017 16:13 IST Cabinet approves Scheme of Budgetary Support under GST Regime to the …
All the dealers who are registered under GST except composition dealers are required to file GSTR-3B for the month of July and August. The last date to file GSTR 3B for month of July is August 20th, 2017. The Government …
Treatment of Gift and Perquisites under GST The Goods and Services Tax (GST), the biggest economic reform, has been implemented in India since 01 July 2017. Every new thing comes out with fresh challenges, similar is the case with …
Margin Scheme in GST Normally GST is charged on the transaction value of the goods. However, in respect of second hand goods, a person dealing is such goods may be allowed to pay tax on the margin i.e. the …