Under GST transition, Any revision in contract for supply of Goods or service after appointed which was originally executed before appointed date will be carried as per transition rule. This rule also cover for revision in price of goods or service or return of goods which was originally supplied before GST applicability
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…)
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…
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…