Comparison of Old and New Draft of Model GST Law

New Draft Model GST Law is published on 25/11/2016 in the public domain. It has undergone too many changes as compared to earlier Draft Model GST Law published in June 2016. In many places, basic definitions also have undergone changes. Though there is complete change if seen word by word in the whole 2 draft … Read more

Changes in Schedule III of Revised GST Draft Law

We have till now discussed the definition of supply along with provisions described in schedule I and schedule II, and in this update, we will discuss the changes and consequences in schedule III. In the previous GST draft law, the persons to be registered were specified in schedule III but in revised GST law, those … Read more

Changes Made In Schedule-II of Revised GST Law

Continuing the series of updates on the revised GST draft law, we had discussed on changes made in schedule I after amendments in the definition of Supply and the consequences of the same. Today we will discuss the changes in schedule II and implications of the same. Schedule II prescribes such transactions which will be … Read more

Categories GST

Changes made in the revised draft GST law

As you are aware of the fact that revised draft GST law is published by the Government. Many changes have been made in the revised draft GST law in comparison to earlier draft GST law. If we compare the old draft GST law with the new revised draft GST law then we can study the … Read more

Download Draft GST Law

PRELIMINARY 1. Short title, extent and commencement (1) This Act may be called the Central / State Goods and Services Tax Act, 2016. (2) It extends to the whole of India / State’s name. (3) It shall come into force on such date as the Central or a State Government may, by notification in the … Read more

Highlights of the Executive Summary of the GST Report submitted by Committee

Committee headed by the Chief Economic Adviser Dr. Arvind Subramanian on Possible Tax rates under GST submitted its Report to the Finance Minister here today. The Committee in its concluding observations has stated that this is a historic opportunity for India to implement a game-changing tax reform. Domestically, it will help improve governance, strengthen tax institutions, facilitate … Read more

Proposed Payment Process Under GST

Introduction- ‘Report of The Joint Committee on Business Processes for GST’ has already been circulated and views have been sought from people at large for suggesting improvements thereupon. This report is divided into three parts namely GST Registration, GST payment process and GST refund process. In this article, some benefits of the proposed payment process … Read more