Supply of Goods and Services in GST Law Supply is wider term used in GST law as the GST is based on Supply only. Now the question arises what is supply. Supply is transfer of goods and services on which GST will be imposed. Supply has been mainly defined in Section 3 of GST law […]
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
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 […]