Goods and Service Tax Archives - Page 7 of 12

GST Input Tax Credit Rules 2017

June 28, 2017September 28, 2021 TaxIndiaUpdates In0 comments3380 views

GST Input Tax Credit Rules 2017 Chapter V: Input Tax Credit RULE 36. Documentary requirements and conditions for claiming input tax credit. — (1) The input tax credit shall be availed by a registered person, including the Input Service Distributor, on the basis of any of … Continue Reading →

Goods and Service Tax

GST Tax Invoice Credit and Debit Notes Rules 2017

June 28, 2017July 17, 2021 TaxIndiaUpdates In0 comments4510 views

GST Tax Invoice Credit and Debit Notes Rules 2017 Chapter VI: Tax Invoice, Credit and Debit Notes RULE 46. Tax invoice. — Subject to rule 54, a tax invoice referred to in section 31 shall be issued by the registered person containing the following particulars, … Continue Reading →

Goods and Service Tax

GST Returns Rules 2017 | Chapter VIII Returns

June 28, 2017September 28, 2021 TaxIndiaUpdates In0 comments4130 views

GST Returns Rules 2017 Chapter VIII: Returns RULE Continue Reading →

Goods and Service Tax

GST Composition Rules 2017

June 11, 2017July 18, 2021 TaxIndiaUpdates In0 comments4860 views

GST Composition Rules 2017 Chapter II: COMPOSITION RULES RULE 3. Intimation for composition levy. — (1) Any person who has been granted registration on a provisional basis under clause (b) of sub-rule (1) of rule 24 and who opts to pay tax under section 10, shall … Continue Reading →

Goods and Service Tax

FAQs on Overview of Goods and Services Tax (GST)

June 10, 2017 TaxIndiaUpdates In0 comments3274 views

FAQs on Overview of Goods and Services Tax (GST) Q 1. What is Goods and Services Tax (GST)? Ans. It is a destination based tax on consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to … Continue Reading →

Goods and Service Tax

FAQs on Levy of and Exemption from GST

June 10, 2017 TaxIndiaUpdates In0 comments2262 views

FAQs on Levy of and Exemption from GST Q 1. Where is the power to levy GST derived from? Ans. Article 246A of the Constitution, which was introduced by the Constitution (101st Amendment) Act, 2016 confers concurrent powers to both, Parliament and State Legislatures to … Continue Reading →

Goods and Service Tax

FAQs on Registration under Goods and Service Tax

June 10, 2017 TaxIndiaUpdates In0 comments3522 views

FAQs on Registration under Goods and Service Tax Q 1. What is advantage of taking registration in GST? Ans. Registration under Goods and Service Tax (GST) regime will confer following advantages to the business: Legally recognized as supplier of goods or services. Proper accounting of … Continue Reading →

Goods and Service Tax

FAQs on Offences, Penalties, Prosecution and Compounding in GST Law

June 10, 2017June 10, 2017 TaxIndiaUpdates In0 comments4296 views

FAQs on Offences, Penalties, Prosecution and Compounding in GST Law Q 1. What are the prescribed offences under CGST/ SGST Act? Ans. The CGST/SGST Act codifies the offences and penalties in Chapter XVI. The Act lists 21 offences in section 122, apart from the penalty … Continue Reading →

Goods and Service Tax

FAQs on Overview of the IGST (Integrated Goods and Services Tax)

June 10, 2017June 10, 2017 TaxIndiaUpdates In0 comments1933 views

FAQs on Overview of the IGST (Integrated Goods and Services Tax) Q 1. What is IGST? Ans. “Integrated Goods and Services Tax” (IGST) means tax levied under the IGST Act on the supply of any goods and/ or services in the course of inter-State trade … Continue Reading →

Goods and Service Tax

FAQs on Place of Supply of Goods and Service in GST Law

June 10, 2017 TaxIndiaUpdates In0 comments3506 views

FAQs on Place of Supply of Goods and Service in GST Law Q 1. What is the need for the Place of Supply of Goods and Services under GST? Ans. The basic principle of GST is that it should effectively tax the consumption of such … Continue Reading →