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 […]
Tag Archives: GST
Goods and Services Tax i.e.GST is just the replacement of Indirect taxes like Sales tax,Service tax and Excise duty.which indirectly effect the customers
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
How to shift to the GST framework online Those who have been registered under service tax are required to move to the GST framework and get their registration process completed under GST. This process can be carried out online provided all the required documents are in place.
Ready for GST? Here are changes that can stump you right after midnight At midnight on June 30, Prime Minister Narendra Modi will formally usher in the country’s new Goods and Services Tax (GST). First proposed in 2006, the GST will subsume more than a dozen state and central levies into one tax, unifying this […]