Consideration received in Indian Rupees for export of service under GST One of the controversies or discrepancies attached with the Export of Service under the present taxation system for services is the receipt of consideration or payment in Indian Rupees . This article tries to put light on the ‘Status Quo’ and the effect under […]
Latest Developments in GST Implementation The GST Council meeting held on 3rd June, 2017 at New Delhi succeeded on completing the pending issues on the agenda which inter alia included fitment of rates on textiles, bidi’s, biscuits, gold & jewellery etc. Also, it cleared the rules as well as reteriated the stand that GST be […]
IT department will probe cases of spike in income under revised returns Those who showed a sudden spike in income when filing revised tax returns after demonetisation should now prepare themselves to face scrutiny.
Auto majors take GST load off dealers, to absorb losses Leading brand of automobile companies including Maruti Suzuki, Bajaj Auto and Hyundai Motor India have agreed to absorb losses to GST load off dealers on inventories at their stockyards as the country transitions to goods and services tax.
Here’s how you can draft a GST compliant invoice With GST, every invoice drafted would need to follow certain provisions and details. Some of it is new, and some basic, but what is clear that under GST a tax invoice would certainly need a new approach. At starting of GST , a tax invoice that […]