As per Section 12(6) of CGST Act, 2017 relating to Time of Supply of Goods states that time of supply to the extent it relates to an addition in the value of supply by way of interest, late fee or penalty for delayed payment of any consideration shall be the date on which the supplier receives such … [Read more...]
E-way Bill under GST
Every registered person who causes “movement of goods” of consignment value exceeding fifty thousand rupees — (i) in relation to a supply; or (ii) for reasons other than supply; or (iii) due to inward supply from an unregistered person, shall, before commencement of movement, furnish information … [Read more...]
Focus Areas of Reports Generated By Software for Filing Returns
As we all know, filing of numerous returns in the GST regime will be a cumbersome task which will be essential for claiming input tax credit because credit availment requires matching of outward supplies of the supplier and inward purchases of the purchaser on online portal. The task will be tedious … [Read more...]
Impact of GST on Online Market Place
Commerce is the lifeline of the human society and the introduction of the internet has made things and circumstances more favorable than problematic. In the Indian scenario, shifting from the traditional brick and mortar structure to the online structure, the rise of ecommerce has been meteoric. … [Read more...]
Compliance on Cancellation of Registration under Revised GST Law
At present, the manufacturers/dealers registered under the Central Excise Act, 1944 have the option to surrender their registration if they intend to close their operations but there is no liability or legal compliance to be discharged on cancellation of the registration. However, the situation is … [Read more...]
Place of Supply Of Goods Or Services Part-III
SECTION 10: PLACE OF SUPPLY OF SERVICES WHERE THE LOCATION OF THE SUPPLIER OR THE LOCATION OF THE RECIPIENT IS OUTSIDE INDIA In continuation to our earlier update, we shall discuss some other provisions of section 10. According to sub-section (8), the place of supply of certain services like … [Read more...]
Place Of Supply Of Goods Or Services Part-I
The revised IGST Law has provided separate provisions for determination of place of supply in case of intra state trade/inter-state trade and that in case of import/export of goods. The provisions regarding determination of place of supply of goods other than supply of goods imported into or … [Read more...]
Eligibility and conditions for taking input tax credit under GST
The new provision reads as follows: (1) Every registered taxable person shall, subject to such conditions and restrictions as may be prescribed and within the time and manner specified in section 44, be entitled to take credit of input tax charged on any supply of goods or services to him which are … [Read more...]
Changes in definition of inputs, capital goods and input services
As evident from revised draft, the definitions of the input goods, capital goods and input services have undergone a major change or let’s say, it has been simplified to the maximum extent possible. In the current laws, there are definitions containing specifications and restrictions to items and … [Read more...]
Works Contract-Sale VS Service to Continue in GST Regime
There has been a long history of litigation on the issue of classification of works contract activities that whether it is to be considered a service or to be treated as sale of goods. The reason behind it was that the constitution of India classifies the work contract activity as sale of goods and … [Read more...]
- «Previous Page
- 1
- 2
- 3
- 4
- 5
- …
- 111
- Next Page»