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Implication of GST laws on SEZs

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Supplies made to SEZ units and SEZ developers were exempted from payment of duty under the earlier law as deemed exports. Day by day the number of SEZ units and SEZ developers are increasing. So also the domestic business sector supplying goods and service to...

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Related Parties Transactions in GST Regime

The uneven distribution of economic resources across the world and limited local markets are the key drivers for expansion of international trade. Noticeably most international transactions are arranged between related parties. The concept of ‘related parties’ is defined under the tax statutes to include certain...

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Place of Supply of goods under IGST Act, 2017

1.FUNDAMENTAL ISSUES 1.1.Dual nature of GST GST is destination tax has two components one is Central Tax and other is State Tax. In the course of Intra-State Supply (Intra-UT Supply), CGST and SGST shall be payable, these two components shall be collected and segregate by...

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Reverse Charge under the GST Law

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This discussion deals with the Reverse Charge under the GST Law. The GST Council in its meeting on 19 May, 2017 approved certain services to be covered under reverse charge category. Normally service provider is liable to collect tax from the service recipient and pay...

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Separate Registration for SEZ units : GST law

More clarity required over the requirement of separate registration for SEZ units under the GST law. SEZ units have always been in the most advantageous position in obtaining concessions and exemption from Government under various legal provisions relating to conduct of business including the taxation...

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What to do with Inventory Before GST kicks in ?

There is a lot of apprehension about what to do with inventory before GST kicks in. Some people are of the opinion that inventory should be increased. Others are of the view that inventory should be reduced. Many are apprehensive that there will be loss...

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Concept of levy and collection under GST

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In This article we do critical analysis of the concept of  levy and collection of GST. General Principles Section 9 is the charging section in respect of supply of goods and service under GST. As per section 9(1) there shall be levied a tax called...

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Composition scheme under the GST Law

The purpose of composition scheme is to ensure minimum compliance is put on small business entities. The various features of composition scheme as contained in section 10 and draft rules are as follows Eligibility: A registered person, whose aggregate turnover in the preceding financial year...

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E-commerce operators under GST

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Furnishing of statement of supplies by an e-commerce operator under GST It is pertinent to note that if any person makes any taxable supplies through e-commerce platform than it mandatory to register irrespective of whether threshold limit for registration is triggered or not. E-commerce operators...

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Supply without consideration : GST

This article deals with the concept of supply without consideration under the GST. Transfer or disposal of business assets Normally unless the supply is made for a consideration no GST would be leviable. However permanent transfer or disposal of business assets is one exception to...

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