Reading Time: 5 minutes Job Work under GST Job-work sector constitutes a significant industry in Indian economy. It includes outsourced activities that may or may not culminate into manufacture. The term Job-work itself explains the meaning. It is processing of goods supplied by the principal. The concept of job work already exists in Central Excise, wherein a principal manufacturer
Read More

Reading Time: 8 minutes Works Contract in GST a works contract is essentially a contract of service which may also involve the supply of goods in the execution of the contract. It is basically a composite supply of both services and goods, with the service element being dominant in the contract between parties. In a general sense, a contract
Read More

Reading Time: 9 minutes E-way Bill Introduction of E-Way Bill or Electronic Way Bill  A waybill is a receipt or a document issued by a carrier giving details and instructions relating to the shipment of a consignment of goods and the details include the name of the consignor, consignee, the point of origin of the consignment, its destination, and route.
Read More

Reading Time: 7 minutes Reverse Charge Mechanism Under GST When a supplier collects the tax from the buyer and deposits the same after adjusting his output tax liability with input tax credits its called normal supplies, but under Reverse Charge Mechanism liability to pay tax on a “Specific Supply” is on the ‘Recipient of Supply’. reverse charge under gst
Read More

Reading Time: 2 minutes CBEC releases updated compilation of 51 GST Flyers Central Board of Excise & Customs (CBEC) has released Flyers on important topics of GST which is prepared by the National Academy of Customs, Indirect Taxes, &Narcotics (NACIN), NACIN is the Key training institution under the Central Board of Excise & Customs (CBEC). All These Flyers are being
Read More

Reading Time: < 1 minute The waived off Late fee amount is now being credited to Cash Ledger The Late fee paid for the period July to Sept Later waived off by Govt, is now being credited to Cash Ledger, Check the cash balance before making payment GSTR3B Dec-2017 A number of taxpayers were waiting for the refund of The waived
Read More

Reading Time: 3 minutes Latest GST Frequently Asked Questions (FAQs) 2018 CBEC has issued a set of Latest GST Frequently Asked Questions (FAQs) 2018  It contains 24 chapters and 558 questions, updated as on 01 January 2018, the FAQs will continue to disseminate knowledge and spread awareness on GST amongst the Tax officials, Trade and Public like gsp. The first
Read More

Reading Time: 3 minutes                                                            Cancellation of GST Registration Cancellation of GST Registration is now available on GST portal for the New taxpayers registered after 1st July 2017 The facility is available
Read More

Reading Time: 5 minutes                                 GST | Refund of IGST paid on Export of Goods and Services Conditions to be fulfilled by taxpayers for getting the Refund of IGST paid on Export of Goods and Services GSTR-1 for the month of July or Table
Read More

Reading Time: 3 minutes UAE VAT | Effective Date | Rate | Effects The beginning of a new era in the UAE with the introduction of a Value Added Tax (VAT) regime, a new chapter in the history of the UAE economy, the general public will bear the burden of budgetary expenditure, starting today (January 1, 2018). Federal Tax
Read More