Definition First and second stage dealer in GST We are continuing our discussion on the definitions given under Section 2 of revised GST law and comparing the same with old model GST law to know the changes made in revised law:- Section 2(46): First Stage Dealer: The new definition reads as follows: First Stage Dealer […]
Category Archives: Goods and services Tax
Goods and services Tax
Goods and services Tax is applied by Indian government as one nation one tax
“GST” Was Apply by the Government to benefited to Business Man.
Before Implementation of GST Various Indirect taxes like service tax,Sales tax,and Excise duty was applicable in india .
In Above all indirect tax cenvat credits i.e. input tax credits on purchase/services received was adjusting with outward sales and outward services given .
For smooth running of this system the Indian Government also implemented this by discontinue of above mentioned tax,
In This Section we try to clarify regarding GST Refunds,GST Returns,GST Circulars,GST Notifications,GST Forms.
EXEMPTION FROM GST There is no separate meaning for goods or service under GST . Section 3 defines the term ‘supply’meaning of Supply is same in both of the goods and service. The provisions of Finance Act, 1994 and Central Excise Act, 1944 and State Value Added Tax laws give powers to the respective Government […]
Aggregate turnover under revised GST law GST Model is required only if the turnover of the assessee crosses the threshold limit of Rs twenty lacs. Today in this update we shall analyse the definition of “aggregate turnover” and changes brought in by Revised GST Draft Law.
Composition Tax under GST law Revised GST Law under Section -9 provides that small taxpayer can opt for the scheme of composition tax instead of opting for paying tax under the regular supply of goods.
GST IMPACT ON EDUCATION SECTOR Gst Impact on Education Sector in India is presently covered as one of the Government’s priorities and as such is allowed tax relief both in direct and indirect taxes. So far as indirect taxes are concerned, education is considered a service, and as such, it is subject to levy of […]