Input Tax Credit Under Model GST Law-Part1
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…
Input Tax Credit Under Model GST Law-Part2
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…
GST Compliance Process Simplified
[vc_row][vc_column][vc_column_text]In 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…
Transitional Provisions under GST Part6 –Treatment of Claim for Refund Pertaining to Taxes Paid Earlier
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…
When IGST is applicable?
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…
Transitional Provisions under GST Part7 –Treatment of Tax Amount
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…
Transitional Provisions under GST Part8 –Treatment of ServiceTax, Excise Duty and VAT Output Under Dispute
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…
Transitional Provisions under GST Part9 –When There is a Revision in Return After GST becomes effective
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,…
Composition of Levy Under 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…
Transitional Provisions under GST Part5 –Treatment of Change in Price of Services and Goods After GST is implemented
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…