GST Articles

Taxes to be subsumed in GST

Posted by CA Chitresh Gupta 06 September 2015 13549 Views

GST is commonly described as indirect, comprehensive, broad based consumption Tax. The Dual GST which would be implemented in India will subsume many consumption taxes. The objective is to remove the multiplicity of tax levies thereby reducing the co

Impact under GST on Job work transactions

Posted by Ashish Chaudhary 06 September 2015 11379 Views

Goods and Service Tax (GST) upcoming in India is likely to result in widening the tax base substantially by covering large number of potential taxpayers who are hitherto not covered in th

Government pushing GST to meet April, 2016 deadline

Posted by Bimal Jain 03 September 2015 15157 Views

Dear Professional Colleagues,Government pushing GST to meet April, 2016 deadlineEven though Parliament�s Monsoon Session could not turn into success, the Indian Government did not step-back and has been significantly working towards the success

GST Transitional Challenges: Ongoing service contracts

Posted by Ashish Chaudhary 01 September 2015 10846 Views

India is on behest of implementing Goods and Service Tax (GST) which is said to be biggest tax reform since Independence. One impor

GST legislations draft to be finalised by Sept 15' 2015

Posted by Anandaday Misshra, Advocate 27 August 2015 9915 Views

GST LegislationThe Revenue secretary, Mr Das has clarified that three draft legislations are being prepared by different committees comprisingi) senior officers of the CBEC,ii) department of revenue and finance as well asiii) taxation department offi

GST Bill - Perfect or imperfect?

Posted by Harsh Gadodia 20 August 2015 15292 Views

Lots of talks going on GST implementation by 1st April,2016 as promised by our Hon'ble Finance minister Shri Arun Jaitley. With the hope of passage of GST b

GST- Transitional Issues in Credits

Posted by Madhukar N Hiregange 13 August 2015 21806 Views

GST - Transition challenge on Credit, Carry forward and Claim through declaration CA Madhukar N Hiregange IntroductionTax credit in any value added taxation is the second most important aspect after the levy as it goes to reduce the basic cost. It

GST and its salient features

Posted by CA Sayam Rastogi 10 August 2015 18606 Views

GST will be levied on buyers of goods and services, or where the service is consumed. This means big consumer states such as Uttar Pradesh, West Bengal and Kerala will get a high share of the taxes.The following are the salient features of the propos

Input Tax Credit and Inter GST Credit

Posted by CA MOHIT SINGHAL 10 August 2015 13288 Views

Input tax credit is the amount of tax paid by the dealer on purchases for which the dealer isentitled to claim a credit. The input tax credit has to be claimed by a dealer against tax invoicewhich can be adjusted

FM senses delay in implementation of GST by 1st April 2016

Posted by Anandaday Misshra, Advocate 06 August 2015 14750 Views

Looking to the ongoing protests and non co-operation movements in the Parliament , the Implementation of Goods & Service Tax (GST) regime in India from 1st April 2016 is in doldrums.Since the factum is that once the GST Bill is passed from Rajya