TaxIndiaUpdates.In : GST, Service Tax, Income Tax, VAT, Tax Planning

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

June 10, 2017June 10, 2017 TaxIndiaUpdates In0 comments3332 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 comments5011 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 →

Goods and Service Tax

FAQs on GSTN and Front end Business Process on GST Portal

June 10, 2017 TaxIndiaUpdates In0 comments5314 views

FAQs on GSTN and Front end Business Process on GST Portal Q 1. What is GSTN? Ans. Goods and Services Tax Network (GSTN) is a not-for-profit, non-government company promoted jointly by the Central and State Governments, which will provide shared IT infrastructure and services t … Continue Reading →

Goods and Service Tax

FAQs on GST Transitional Provisions

June 10, 2017 TaxIndiaUpdates In0 comments5320 views

FAQs on GST Transitional Provisions Q 1. Will CENVAT credit (or VAT credit) carried forward in the last return prior to GST under existing law be available as ITC under GST? Ans. A registered person, other than a person opting to pay tax under composition … Continue Reading →

Goods and Service Tax

FAQs on Advance Ruling in GST Law

June 9, 2017June 9, 2017 TaxIndiaUpdates In0 comments5087 views

FAQs on Advance Ruling in GST Law Q 1. What is the meaning of Advance Ruling? Ans. As per section 95 of CGST/SGST Law and section 12 of UTGST law, ‘advance ruling’ means a decision provided by the authority or the Appellate Authority to an … Continue Reading →

Goods and Service Tax

FAQs on Input Tax Credit in GST Law

June 9, 2017June 9, 2017 TaxIndiaUpdates In0 comments5997 views

FAQs on Input Tax Credit in GST Law Q 1. What is input tax? Ans. Input tax means the central tax (CGST), State tax (SGST), integrated tax (IGST) or Union territory tax (UTGST) charged on supply of goods or services or both made to a … Continue Reading →

Goods and Service Tax

FAQs on Inspection, Search, Seizure and Arrest in GST Law

June 9, 2017June 9, 2017 TaxIndiaUpdates In0 comments3564 views

FAQs on Inspection, Search, Seizure and Arrest in GST Law Q 1. What is the meaning of the term “Search”? Ans. As per law dictionary and as noted in different judicial pronouncements, the term ‘search’, in simple language, denotes an action of a government machinery … Continue Reading →

Goods and Service Tax

FAQs on Time of Supply in GST Law

June 9, 2017June 9, 2017 TaxIndiaUpdates In0 comments5011 views

FAQs on Time of Supply in GST Law Q 1. What is time of supply? Ans. The time of supply fixes the point when the liability to charge GST arises. It also indicates when a supply is deemed to have been made. The CGST/SGST Act … Continue Reading →

Goods and Service Tax

FAQs on Returns Process and Matching of Input Tax Credit in GST Law

June 9, 2017June 9, 2017 TaxIndiaUpdates In0 comments4603 views

FAQs on Returns Process and Matching of Input Tax Credit in GST Law Q 1. What is the purpose of returns? Ans. a) Mode for transfer of information to tax administration; b) Compliance verification program of tax administration; c) … Continue Reading →

Goods and Service Tax

FAQs on Job Works in GST Law

June 9, 2017June 9, 2017 TaxIndiaUpdates In0 comments5558 views

FAQs on Job Works in GST Law Q 1. What is job work? Ans. Job work means undertaking any treatment or process by a person on goods belonging to another registered taxable person. The person who is treating or processing the goods belonging to other … Continue Reading →