Treatment of Free supply under GST Provisions Free supply under GST by any supplier is a legitimate business strategy. New products cannot be introduced in the market without cajoling consumers to try the new product. In pharma sectors free samples of medicines are distributed. In consumer goods sector, free supply along with some other item […]
GST Provisions on Information Technology Sector It is said that uncertainty in law is the greatest tyranny. Software or Information Technology sector has been struggling with uncertainty in taxation matters for long. Firstly an issue was raised whether software is a goods or service. The issue was always contentious. Other issue was raised as to […]
Free Samples & Promotional Items under GST with examples INPUT TAX CREDIT ON FREE SAMPLES Section 16(1) of the CGST ACT Provides that every registered person entitled to take credit of input tax charged on any supply of goods or services or both to him which are used or intended to be used,in the course […]
RCM applicable on import of “Goods” After a deep interpretation of GST Law, I am of opinion that import of ‘goods’ will be taxed under RCM u/s 5(4) of IGST. There were many different views on whether import of ‘goods’ will attract RCM or not. Unlike import of service which is EXCLUSIVELY provided in act […]
GST: What to do now and how to do ? India is going to implement GST from 1st July, 2017. Everyone is confusing what to do now and how to do. In this regards, at this moment the most important things are .What to do the stock which is held on 30th June 2017