Due to GST – What will cost more and what will be cheaper here’s the list ! With the passage of the GST Bills in the Lok Sabha last week, India’s biggest tax reform Goods & Services Tax (GST), is all set to see the light of day soon. Touted as a reform which would […]
Category Archives: Sales Tax
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Pay more under GST if Planning to buy a phone in exchange offer ! Exchange offers may stress your pockets of an individual buyer, going by the draft rules for valuation of supply under GST. This tax is triggered on supply of goods or services.
Concept of Deemed Sales and GST Clause 29A of Article 366 of the Constitution of India, inserted by 46th amendment to the Constitution gains very much importance as the same lays down the concept of Deemed sale and enables the states to tax certain transactions. This was important as taxes were levied either on “Sale […]
AGRICULTURE UNDER GST – WHETHER TAXABLE The revised model GST law on GST (version-II) defines agriculture and agriculturist. The agriculture under GST is out of scope of GST and agriculturist is not a taxable person.
SUPPLY BY BANKS UNDER GST GST will be levied on supplies and not on sale or service. For the purpose of GST, supply shall include: all forms of supply of goods and/or services prepared or confirmed to be prepared for a consideration by a person in the course or furtherance of business, Importation of service […]