INTRODUCTIONSection 128A, as proposed by the Finance Act, 2024 (No. 2), dated 16.08.2024, through Section 146, was notified via Notification No. 17/2024 - Centr..
INTRODUCTION TO GENERAL INSURANCE SETTLEMENTInsurance companies providing general insurance for motor vehicles settle repair or damage claims through two modes:..
GST Liability & ITC Reversal: Replacement of Parts or Goods as such and Repair Services Provided by the ManufacturerGST Liability on Replacement of Parts or..
The insurance companies, which are engaged in providing general insurance services in respect of insurance of motor vehicles, insure the cost of repairs/damages of motor vehicles incurred by the policyholders.
Life insurance companies provide services by insuring the life of the insured. In exchange, they charge a premium, which may include components for both risk cover and investment/savings.
Here's a simplified explanation of the mechanism for providing evidence of compliance with Section 15(3)(b)(ii) of the CGST Act, 2017 (Circular No. 212/6/2024_26.06.2024).
MEANING OF GUARANTEEGuarantee has not been defined in the GST Law. The reference is to be taken from the Indian Contracts Act, 1872. Guarantee is defined under ..
SPECIAL PROCEDURE TO BE FOLLOWED BY MANUFACTURING OF FOLLOWING GOODS
TDS under GST Law shall be deducted as per the provision of Section 51 of the CentralGoods and Services Tax Act, 2017, Section21 of the Union Territory Goods and Services Tax Act, 2017 and Section 20 of the Integrated Goods and Services Tax Act, 2017, read with Rule 66 of the Central Goods and Services Tax Rules, 2017.
The aim of Indian government is to increasing the output and quality of export from India in pursuance to the "Make in India" policy. Indian government also provide the many incentives to the exporters to boost export in India and in addition to incentives, government also provide many benefits as far GST is concerned. Like Refund of GST in export of goods or Service.
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