Blog Posts - Gst



CREDIT NOTE AND DEBIT NOTE UNDER GST

CREDIT NOTE AND DEBIT NOTE UNDER GST Credit Note As per section 2(35) read with section 24(1) of model GST law, where a tax invoice has been issued for supply of any goods and/or services...
by TCS On Cash Sale on Dec 9, 2016

What is Bill of Supply

What is Bill of Supply As per proviso to section 23 of Model GST Law a registered taxable person supplying non-taxable goods and/or services or paying tax under the provisions of section 8 in relation...
by TCS On Cash Sale on Dec 8, 2016

DEMAND UNDER MODEL GST LAW

DEMAND UNDER MODEL GST LAW Chapter XIV of the Model Goods and Services Tax Act, 2016 (Act’ for short) provides for the demands and recovery of tax. When a demand can be raised by the Government? The tax is payable on self assessment basis. If the a...
by TCS On Cash Sale on Nov 23, 2016

How GST is pocket friendly for you

How GST is pocket friendly for you GST council has agreed on rate structure as 0%, 5%, 12%, 18% and 28%. Having a slab rate structure in GST is departure from popular international practice of having one rate of tax for all goods and services. Counci...
by TCS On Cash Sale on Nov 4, 2016

Taxability under GST for Inter State stock Transfer

Taxability under GST for Inter State stock Transfer Presently interstate Stock transfers are not taxable under CST on submission of duly completed Form F. CBEC in their FAQ has clarified as under: Q 7. Are self-supplies taxable under GST? Ans. Inter-...
by TCS On Cash Sale on Nov 4, 2016

GST rate structure finalised, panel fixes rates at 5%, 12%, 18% & 28%

GST rate structure finalised, panel fixes rates at 5%, 12%, 18% & 28% “Tobacco will fetch 28% sin tax, excluding cess. Aerated drinks will also fetch tax at the same rate,” said Jaitley. NEW DELHI: A 4-tier GST tax structure of 5, 12,...
by TCS On Cash Sale on Nov 3, 2016

Formats of invoice issued under GST regime

Formats of invoice issued under GST regime Invoicing under the GST regime will be BEGINNING OF “PAPERLESS TRANSACTIONS ERA” in this respect we should know the exact format of the invoice that will be put to use after April 2017. Government is str...
by TCS On Cash Sale on Oct 29, 2016

GST IMPACT ON EDUCATION SECTOR

GST IMPACT ON EDUCATION SECTOR Education in India is presently covered as one of the priorities of the Government and as such is allowed tax relief both in direct and indirect taxes. So far as indirect taxes are concerned, education is considered as...
by TCS On Cash Sale on Oct 27, 2016

Benefits of GST to home buyers – In the next lifetime!

Benefits of GST to home buyers – In the next lifetime! The GST structure as it stands today shall only result in higher property costs for the home buyers. Non‑exclusion of land value from GST net, non-availability of ITC to developers and irrati...
by TCS On Cash Sale on Oct 27, 2016

Appearance & Audit under GST Law

Appearance & Audit under GST Law Indian Legislature provided special class of persons called Advocates in Advocates Act, 1961 to practice all Indian laws. Section 29 of Advocator Act, specifies that Advocator alone are entitled to practice the pr...
by TCS On Cash Sale on Oct 25, 2016

GST: DISTORTIONS TO BE COUNTER PRODUCTIVE

GST: DISTORTIONS TO BE COUNTER PRODUCTIVE The three day meeting of GST Council scheduled from 18th to 20th October, 2016 ended in two days only with a resolve to meet again on 3-4 November and then on 9-10 November, 2016 to discuss rate stricture and...
by TCS On Cash Sale on Oct 21, 2016

Tax Return Preparar(TRP) Under ‘GST’ Law

Tax ReturnPreparar(TRP) Under ‘GST’ Law Section 34(1) of the model Goods and Services Tax Act, 2016 (‘Act’ for short) provides that the appropriate Government may prescribe the manner of approval of Tax Return preparers, their eligibility con...
by TCS On Cash Sale on Oct 14, 2016

How GST effect on Small Traders and Startups

How GST effect on Small Traders and Startups The GST will have an impact on every individual of the nation.If you are in confusion whether the Goods and Service Tax (GST) is necessary for you or not, then I will make you clear about it. After gaining...
by TCS On Cash Sale on Oct 12, 2016

Impact of GST on Real Estate Sector

Impact of GST on Real Estate Sector Background:- Model law of GST has come in public domain on 14.06.2016 and bill has been passed in Rajya Sabha and even expected to get effective from 01.04.2017. The purpose of this article is to give overview on i...
by TCS On Cash Sale on Oct 4, 2016

GST Impact on manufacturing and trading process

GST Impact on manufacturing and trading process As we all know Model law of GST has become law and bill has been passed in Rajya Sabha and expected to get effective from 01.04.2017. here is given an overview on impact of GST on manufacture and Trade...
by TCS On Cash Sale on Sep 24, 2016

The Impact of GST on Logistic Industry

The Impact of GST on Logistic Industry India’s globally infamous unending queue, uneasy checkmates at our border check posts, filing of waybills/entry permits, compliances under entry tax laws and local levies, are one of the prime reasons why tran...
by TCS On Cash Sale on Sep 22, 2016

Impact analysis of GST on road transport sector

Impact analysis of GST on road transport sector It has been more than a decade that we all are waiting so desperately for this significant tax reform since independence. As we all know India is a federal country where multiple states Govt. works alon...
by TCS On Cash Sale on Sep 20, 2016

Can government still levy excise on goods After GST Law ?

Can government still levy excise on goods After GST Law ? The modified list provides that excise duty may be levied only on petroleum/petroleum products and tobacco/tobacco products, thereby limiting Central Excise Act’s scope to these specifie...
by TCS On Cash Sale on Sep 19, 2016

Transitional Provisions under Goods and Service Tax

Transitional Provisions under Goods and Service Tax As Goods and Service Tax will bring in Business Transformation; it’s important to understand the Transitional Provisions to ensure that the proposed tax system takes care of existing tax credits,...
by TCS On Cash Sale on Sep 19, 2016

Goods and Service Tax – Export of Goods & Services

Goods and Service Tax – Export of Goods & Services GST is just result in Business Transformation not the change in Tax Structure . One would definitely witness the Growth in Exports with the introduction of GST. Taxes and Duties are never e...
by TCS On Cash Sale on Sep 17, 2016


Trending Topics

Close