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 →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 […]
Read More →GST Council has taken a step ahead towards making GST a reality. They have lifted veil from the most awaited part of GST i.e. the tax rates. They have introduced the following rates: 0% – Food grains of high public consumption and which contributes to almost 50% of the inflation index; 5%-12%-18% – other Goods […]
Read More →With the passage of “The Constitutional (122nd) Amendment Bill” in the upper house of the central legislature, we are ready to witness the biggest ever tax reform after independence. Though, still a long way to go but approval of upper house being considered as the biggest hurdle, has come out as a big sigh of […]
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