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.
Composition scheme under Model GST Law and its impact on construction. The New Model GST Law ( hence forth “MGL”) as made available on public domain as on 26th November 2016 have bring out many changes with respect to the provisons with respect to composition levy.
AGGREGATE TURNOVER UNDER GST Scope of ‘aggregate turnover’ [Section 2(6)] As per section 2(6) of the Model GST Act, ‘aggregate turnover’ shall be total of the following amounts or sums in relation to a person carrying on business, i.e., aggregate of the following–
Capital Goods Under Revised GST Law There is substantial change of definition of Capital Goods has undergone in the revised GST Law is given under section 2(19) which states that capital goods means goods, the value of which is capitalised in the books of accounts of the person claiming the credit and which are used […]
Will Demonetisation and digital transactions stop corruption in India ? If digital transactions could curb corruption and black money , Kenya would have be the most transparent country in the world. About 75% of the adult population in Kenya uses mobile phones for payments and money transfer. The value of mobile money transactions and transfers […]