'Consideration' in relation to supply of goods and services or both to any person, includes any payment made or to be made, whether in money or otherwise and the monetary value of any act or forbearance,
Explore how transaction value serves as the primary basis for valuation under GST law, including key judicial rulings, conditions, and practical implications for businesses
The rulers who are one side of the coin has brought GST into the implementation as a Good and Simple Tax from 1/7/2017 by conducting special parliament sessions on the night of 30/6/2017 off-course they are having a sleepless night on that day only.
Arjuna (Fictional Character): Krishna, I heard that the Central Board of Indirect Taxes & Customs (CBIC) had issued new Instructions related to GST registra
Reverse Charge Mechanism was first introduced in the Service Tax Law. Now, the Government has incorporated RCM in GST.
Discover the transactions classified under Schedule III of the CGST Act that are treated neither as supply of goods nor services, including employee services, constitutional duties, funeral services, land sales, and more.
(A) Any trade, commerce, manufacture, profession, vocation, adventure, wager, or any other similar activity, whether or not it is for a pecuniary benefit.
"Taxable event" is that on happening of which the charge is fixed. It is that event which, on its occurrence, creates or attracts the liability of tax.
The cess on petroleum products paid by a manufacturing company to the transporter of input goods becomes part of the cost of sales, as it cannot be claimed as Input Tax Credit (ITC).
The Consent Letter is a formal letter provided by the property owner giving permission for you to use their premises for business activities. This letter is essential if your business address is rented, leased, or located in a shared space.
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