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2 (5) “export of goods” with its grammatical variations and cognate expressions, means taking goods out of India to a place outside India; 2 (6) “export of services” means the supply of any service when,–– (i) the supplier of service is located in India; (ii) the recipient of service is located outside India; (iii) the […]
Read MoreGST simplify the procedure relating to factory stuffing hitherto carried out under the supervision of Central Excise officers. With the Introduction of GST , Govt provide three type of process for the purpose of export of Goods as well as services , detail as follows :- 1. Export of Goods and services under Letter of […]
Read MoreIMPORT PROCEDURE UNDER GST Meaning of Import:- 2(10) ‘‘import of goods” with its grammatical variations and cognate expressions, means bringing goods into India from a place outside India; 2 (11) ‘‘import of services” means the supply of any service, where–– (i) the supplier of service is located outside India; (ii) the recipient of service is […]
Read MoreSome unique Pros or Cons of GST : Pros 1.ITC is available on all business items except food,hotel outside registered location of assessee,Car,Office building construction and repair. 2.ITC on capital goods is allowed 100% in same month. 3 matching of tax paid with purchase credit -helpful move to detect Tax mafias. 4.Eway bill-complete tracking of […]
Read MoreGift made by the employer to employee in a year 50.000 will be exempt from the GST.
Read MoreKey takeaways from 21st GST Council Meeting The due date for filing GSTR-1, GSTR-2 and GSTR-3 has been extended to 10th October, 2017, 31st October, 2017 & 10th November, 2017 respectively; GSTR-3B to be filed for the months of August, 2017 to December, 2017; Composition scheme can be opted till 30th September, […]
Read MoreTo Authorized Signatory name The Supplier name Supplier Address Date : 20 June 2017 Sub : Changes in agreement terms with introduction of GST Dear Vendor At the outset, we would like to thank you for being a trusted supplier/service provider and providing us quality products/services helping us reach millions of customers across the country. […]
Read MoreGST is a destination based tax on consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous stages available as setoff. In a nutshell, only value addition will be taxed and burden of tax is to be […]
Read MoreQ 1. Which are the cases in which registration is compulsory? Ans. As per paragraph 5 in Schedule III of MGL, the following categories of persons shall be required to be registered compulsorily irrespective of the threshold limit: a) persons making any inter-State taxable supply; b) casual taxable persons; c) persons who are required to […]
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