Maharashtra VAT Audit Issues – April 2017 to June 2017 Taxpayers have to comply with both the VAT Audit and GST Audit for the year 2017-18, But which form is applicable for VAT audit?
IMPACT OF GST ON AUTOMOBILE DEALERS GST ON AUTOMOBILE DEALERS basically comprises of Manufacturers, Automobile Dealers & Retailers. Presently, all of them are paying various indirect taxes such as:
Reversal of credit on exempted services before 30th June Mechanism of availing Reversal of credit credit in case of manufacturers or service providers having both taxable and non-taxable activities has been subject to litigation. Lot of developments have happened in Rule 6 of Cenvat credit Rules 2004 in specifying the mechanism for availing the credits.
TYPES OF ‘SUPPLY’ UNDER ‘GST’ REGIME Section 66B of the Finance Act, 1994 provides that there shall be levied a tax at the rate of fourteen per cent. on the value of all services, other than those services specified in the negative list, provided or agreed to be provided in the taxable territory by one […]
70% of all goods and some consumer durables to become cheaper under proposed GST regime A number of goods such as cosmetics, shaving creams, shampoo, toothpaste,soap, plastics, paints and some consumer durables could become cheaper under the proposed goods and services tax GST regime as most items are likely to be subject to the rate of […]
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 […]
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.