GST Fundamentals

Highlights of Revised GST Model law

The revised draft model GST law was made available on 26th November, 2016. Key highlights of the revised Draft Model GST Law are categorized into the following sections: What are the changes? What are the new additions? What are the exclusions? What are the changes? Subject Topic Draft Law- 14th June, 2016 Revised Draft law- 26th November,

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Checklist for availing GST input Tax Credit

In the current tax regime, various conditions are applicable for availing input tax credit. A brief overview is given below: Type of Input Tax Credit Conditions for availing Input Tax Credit (ITC) VAT As a VAT dealer, you can avail credit of the VAT paid on goods purchased in the course of business, for re-sale

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Cases where you can’t avail your Input Tax Credit

In this blog, we will discuss the scenarios where you cannot avail Input Tax Credit. Registration not applied for within 30 days from the date on which you become liable to register If you have not applied for registration within 30 days from the date on which you become liable to register, you will lose the eligible

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GST – A single Tax Structure

GST (Goods & Services Tax), a single unified tax system aims at uniting India’s complex taxation structure to a ‘One Nation- One Tax’ regime. It is the biggest tax reform since India’s independence. What does this mean? What will be its impact? What is the difference between GST and current tax structure? GST proposes to remove the

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WHAT IS GST?

WHAT IS GST?

What is GST (Goods & Services Tax)? Goods and Services Tax is a comprehensive tax levied on the supply of goods and services across India. GST (Goods and Services Tax) is a Destination based Consumption tax, and the taxable event is Supply as against the existing taxable events of sale, manufacture or provision of service. Draft model GST law

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