The fitment of rates of services were discussed on 19 May 2017 during the 14th GST Council meeting held at Srinagar, Jammu & Kashmir. The Council has broadly approved the GST rates for services at Nil, 5%, 12%, 18% and 28% as listed below. The information is being uploaded immediately after the GST Council’s decision (more…)
As you must be aware requirement of way bill is going to come in new way under GST.
GST council is planning to implement waybill requirement under more structured manner to ensure goods movement tracking..
Below are the important point under GST E-way bill (more…)
We saw GST valuation general rules in previous article now we will wee special valuation rule for Pure agent.
1. Value of supply of goods or services where the consideration is not wholly in money:
Under GST regime Input Credit available for GST payment will be smooth but will have few conditions and restrictions as in existing Cenvat rule.
Below are few area where GST input is either conditional or (more…)
As Goods and service tax is set to be launched on july 1st, It is important to note that who are required to get registration under GST before the appointment date i.e.1st July 2017.
Below are list of person category who are required to get themselves registered under GST regime. (more…)
Introduction of GST would be a very significant step in the field of indirect tax reforms in India. By amalgamating a large number of Central and State taxes into a single tax and allowing set-off of prior-stage taxes, it would mitigate the ill effects of cascading and pave the way Read more…
India is a federal country where both the Center and the States have been assigned the powers to levy and collect taxes through appropriate legislation.Dual GST gives the same legal and systematic approach for the country to collect the tax. (more…)
GST Bills will deal with Central GST on supplies (Goods and services), Integrated GST for regulating transaction between two states, GST rules for union territory and rules for compensation that will issued by Central to respective states for loss of revenue due to implementation of GST.
With time coming closer to implement GST laws, finance ministry has finally published Draft Invoice rules for GST and Draft Invoicing format under GST laws. Original Text of Draft are as follow: DRAFT GOODS AND SERVICES TAX – INVOICE RULES, 20– Note: Corresponding changes in the Model GST Law are Read more…
The schedule of the enrollment activation drive for states is given below. We encourage you to complete the enrollment during the specified dates. However, the window will be open till 31/01/2017 for those who miss the chance. (more…)
GST Council of India on Thursday, 3rd November 2016 decided the Four-tier GST tax structure of 5%, 12%, 18% and 28%, with lower rates for essential items and the highest for luxury and de-merits goods that would also attract an additional cess. The lowest rate of 5% would be for Read more…