All About Composition (Lumpsum) Scheme under GST
The Goods and Services Tax (GST) regime came a step closer to meet its 1st July target of rollout, on 29th March 2017 with the Lok Sabha approving four supplementary legislations.
This article is based on the GST Bill 2017 which was released in public domain in last week of March 2017.
ITC is critical for the competitiveness for industry. trade and services.
Most of us fail to live our lives in the race to get more and more better in life, resulting in dissatisfaction.
CBDT press release on Section 269 ST which states that there is no restriction for withdrawal from Bank Deposit is not in consonance with the Section.
If these procedures are properly followed, Input tax credit can be availed seamlessly leading to smooth flow of credit in the tax system.
Place of supply in GST law is of primary importance in GST. It is needed to determine if IGST is payable, or such supply is import/export of services.
If you do not have Aadhaar Linked to PAN, PAN will be deemed to be invalid. Hence, from 1st July, 2017, PAN will go along with Aadhaar in order to be valid.
GST is in the offing and there is a lot of doubt about it in the market as well as in mind of public. Industry preparedness is waiting for definite law.
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