Reading Time: < 1 minuteGovernment of India Ministry of Finance 17-August-2017 On Clarification regarding availability of Transitional Credit for GST As per the rules, the GST for the month of July 2017 has to be paid by 20th August, 2017. Only after the payment of full GST, return in summary Form 3B can be filed. Concerns have been raised
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Reading Time: 4 minutesE Commerce in GST E Commerce & E commerce Operator Meaning 1. What is E Commerce (Electronic Commerce ) Section 2(44) of CGST Act, 2017 defines E Commerce as supply of goods or services over the electronic network. In ordinary words , ” Purchasing and selling of Goods and services by Business and consumers through
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Reading Time: < 1 minuteCentral Government has clarified on Tuesday that GST will be implemented by the scheduled time which is 1st July .preparations for the same is going on at war front . Government has appealed to avoid the rumors of postponement of GST some days . as some part of industry is urging the government to postpone
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Reading Time: < 1 minuteThe GST would replace the following taxes: (i) taxes currently levied and collected by the Centre: a. Central Excise Duty b. Duties of Excise (Medicinal and Toilet Preparations) c. Additional Duties of Excise (Goods of Special Importance) d. Additional Duties of Excise (Textiles and Textile Products) e. Additional Duties of Customs (commonly known as CVD)
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Reading Time: 2 minutesThe concept of destination based tax on consumption Exactly the concept of “Destination Based Tax” on “Consumption” is that the tax would accrue to the taxing authority which has jurisdiction over the place of consumption which is also termed as place of supply For Example, If Mr A in Punjab produces the goods and sells the
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Reading Time: < 1 minuteGoods and Services Tax GST is a far wide tax levied on “Supply of Goods and Services” across India. GST (Goods and Services Tax) is a Destination based Consumption tax, and the taxable event is Supply as against the present Taxable Events of Sale, manufacture or provision of service. It is proposed to be levied at all stages right from
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