Tax Updates
Reverse Charge Mechanism in GST Hello Readers! In this article, we will understand the Basis Concept of Reverse Charge Mechanise in GST. As we aware that generally supplier is liable to collect and deposit the tax to Government. However, under the Reverse Charge Mechanism Recipient of supply of Goods or Services is liable to pay …
Reminder Chart Statutory Due Dates Statutory Due Date for the month of May 2019 May 2019 7th May Due date for payment of Tax Deducted / Collected for the month of April 2019. 10th May Filing of GSTR – 7 for the month April 19 for taxpayers who is required to deduct TDS under …
GST SAC Code List GST SAC Code List – NEW SCHEME OF CLASSIFICATION OF SERVICES Heading & Group Service Code (Tariff) Service Description Construction Services Heading No.9954 Construction services Group 99541 Construction services of buildings 995411 Construction services of single dwelling or multi dewlling or multi-storied residential buildings 995412 Construction services …
GST Input Tax Credit – Eligibility, Conditions, Apportionment and non-availability A. Eligibility – Every registered person shall be eligible to take GST input tax credit in respect of input tax charges on any supply of goods or services or both. The said goods or services are to be used or intended to be used by …
How to determine Inter State Supply or Intra State Supply Under GST As we know that determination of place of supply is one of the most important aspects of GST. Taxpayers and government is always wanted to know that whether a particular supply is Inter-State Supply or Intra-State Supply. In this article we are able …
How to determine place of supply of Services other than import and Export of Services. Section 12 of IGST Law deal with place of supply of services other than supply of services imported into or exported from India. In other words, we can say that section 12 deal with supply of services where location of …
Determining place of supply for Goods other than import and Export. GST is “Destination based consumption tax”. Revenue will be accrue to the state in which the consumption take place. Section 10 of IGST Law deal with determining place of supply for Goods other than supply of goods imported into or exported from India. In …
Understanding the Concept of Supply under GST In this Article, we would like to give you the basis understanding about the term “Supply” under the GST Law. As we know that tax is to be levied at taxable event. The taxable event under previous indirect tax laws is ‘manufacture’ for levy of excise duty, ‘Sale’ …
E-Commerce and GST Provisions in India Hello readers! In this article, we will give you a brief about the E-Commerce and GST Provisions in India and the impact of GST on E-Commerce industry. As you know, E-Commerce can be described supply of goods or services through electronic channels such as Amazon and flipkart etc. They …
Time of Supply of Goods / Services under GST In GST law, liability to pay CGST/SGST on the Goods / Services shall arise at the time of Supply of Goods / Services. In this Article, we analysis the various provision of GST to understand that how to determine time of supply for Goods / Services. …