GST ASMT-10 is merely a notice where discrepancies are found and intimated to the taxpayers. Hence there is no personal hearing in ASMT-10.
Continue Reading »Factoring is very popular and necessary to enhance working capital by quick conversion of book debt into liquid form.
Continue Reading »As per Section 2(5) of CGST Act, "Agent" means a person, including a factor, broker, commission agent, arhatia, del credere agent, an auctioneer or any other mercantile agent, by whatever name called,who carries on the business of supply or receipt of goods or services or both on behalf of another.
Continue Reading »Freight charges is the cost of transportation services. According to the Business Dictionary, freight costs include packaging, palletizing, loading or unloading charges, carrier fees, and insurance costs.
Continue Reading »As per the Section 2(6) of IGST Act, 2017 "export of services" means the supply of any service
Continue Reading »Export incentives are certain benefits exporters receive from the government as acknowledgement for bringing in foreign exchange and as compensation for the costs they incur.
Continue Reading »The expression 'Supply' includes all forms of supply of goods or services or both made or agreed to be made for a consideration by a person in the course or furtherance of business.
Continue Reading »Co-operative Housing Societies are entities registered under the co-operative laws of the respective states. In this article, we discuss the GST implication on Housing Societies and Residential Welfare Associations.
Continue Reading »Slump-Sale is the sale of an undertaking as a going concern for a single consideration. In this article, we will discuss the implication of tax in slump-sale as far as GST is concerned.
Continue Reading »GST is applicable only if transactions constitute the supply. If there is no supply, no GST will be charged. Let us understand the GST implication on lease and sale of motor vehicles.
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