The necessary provisions regarding filing an appeal to Appellate Authority has been provided under CHAPTER XVIII- APPEALS AND REVISION [SECTION 107 TO 121] of the Central Goods and Services Tax Act, 2017 (‘CGST Act, 2017’) supplemented with CHAPTER XIII- APPEALS AND REVISION [RULE 108 TO 116]. Pursuant to the provisions of Section 107(1) of the […]
Read More →Due to the corona pandemic staying at home has become the new normal. People have changed their ways of doing things. Many people have lost their jobs. They are trying to learn new skills too from the comfort of their home. Learning about GST is one of the right decisions being made by many people. […]
Read More →When an owner of unquoted equity shares (“Shares”) in a Company transfers the shares to any person, he is required to pay Capital Gain tax on the difference between the sale consideration received by him and the cost of acquisition of such shares (or the inflation indexed cost, wherever applicable). It is important to check […]
Read More →Schedule II of the CGST Act talks about activities or transactions to be treated either as a supply of good or supply of service. There are some certain activities or transaction which led to confusion whether they are supply of goods or supply of service. The matters listed out in Schedule II are primarily those […]
Read More →Procedure, format and standards for issuance of certificate for tax deducted at source in Part B of Form No. 16 in accordance with the provisions of section 203 of the Income-tax Act, 1961 read with the Rule 31 of the Income-tax Rules, 1962 through TRACES- reg. (Form 16 Part B revised Notification 2019) The Central […]
Read More →What is Goods and Services Tax (GST) The GST is an indirect tax, which is levied on supplying of Goods and Services. the word supply is used instead of sale for levying the GST. This tax is passed on till the last stage that is the customer of the goods and services who bears the tax. It […]
Read More →As we know that GST is talk of the town these days, Government of India notified it w.e.f. 1st July, 2017 except 2 chapters (registration and Composite levy), which were notified earlier w.e.f. 22nd June, 2017. All the Acts and rules whether Central wise or State wise are notified. However rules for e-way bill are […]
Read More →As business owners and professionals we need to adopt the GST regime. GST has been introduced to avoid dual taxation, increase the scope of Cenvat credit and much more. Few Action points for adoption of GST are as under: Migrate the Registration Classifying the transaction into Goods and Service and Place of Provision Get the […]
Read More →As we know that every dealer is required to get himself registered under DVAT, if his turnover exceeds taxable quantum i.e. Rs. 20 lakh in current year; or to pay tax, or is registered or required to be registered under Central Sales Tax Act, 1956. Department has been focusing on “Easy of Doing Business” and […]
Read More →With the issuance of revised model GST law, the countdown to implement much awaited Goods & Service Tax on 01.04.2017 has begun. It is required to recall here that on June 14th, this year, the aforesaid revised model was share for public feedback and now it is here with all the revisions based on the […]
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