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Posted On:  1 year ago


FAQs on Electronic Commerce as per Goods and Service Tax (GST)

Ans. Section 43B(d) of the MGL defines an Electronic Commerce to mean the supply or receipt of goods and/ or services, or transmitting of funds or data, over an electronic network, primarily the internet, by using any of the applications that rely on the internet, like but not limited to e-mail, instant messaging, shopping carts, web services, universal description Discovery and integration (UDDI), File Transfer Protocol (FTP) and Electronic Data Interchange (EDI) whether or not the payment is conducted online and whether or not the ultimate delivery of the goods and/or services is done by the operator.

article author CA Chirag Chauhan

Posted On:  1 year ago


FAQs on Input Tax Credit as per Goods and Service tax (GST)

Input tax” has been defined in section 2 (57) of the MGL and section 2 (1) (d) of the IGST Act. Input tax in relation to a taxable person, means the {IGST and CGST} in respect of CGST Act and {IGST and SGST} in respect of SGST Act, charged on any supply of goods and/or services to him which are used, or are intended to be used, in the course or furtherance of his business and includes the tax payable under sub-section (3) of section 7. Under the IGST Act, input tax is defined as IGST, CGST or SGST charged on any supply of goods and / or services.

article author CA Chirag Chauhan

Posted On:  1 year ago


FAQs on Job Work as per Goods and Service tax (GST)

Section 2(62) of the MGL provides that “job-work” means undertaking any treatment or process by a person on goods belonging to another registered taxable person and the expression “job-worker” shall be construed accordingly. This definition is much wider than the one given in Notification No. 214/86 – CE dated 23rd March, 1986 as amended, wherein job-work has been defined in such a manner so as to ensure that the activity of job-work must amount to manufacture. Thus the definition of job

article author CA Chirag Chauhan

Posted On:  1 year ago


FAQs on Refunds under as per Goods and Service tax (GST)

Refund has been discussed in section 38 of the MGL. “Refund” includes refund of tax on goods and/or services exported out of India or on inputs or input services used in the goods and/or services which are exported out of India, or refund of tax on the supply of goods regarded as deemed exports, or refund of unutilized input tax credit as provided under section 38(2)

article author CA Chirag Chauhan

Posted On:  1 year ago


FAQs on Returns Process and matching of Input Tax Credit as per Goods and Service tax (GST)

Every registered taxable person - who crosses the threshold limit for payment of taxes. A supplier needs to be registered when the aggregate turnover crosses Rs. nine lacs but he become taxable person ONLY when he crosses Rs. ten lacs. So he will be required to file returns when he crosses the threshold limit of Rs. ten lacs. There are some other class of persons who need to be registered and therefore will have to file returns like interstate suppliers,

article author CA Chirag Chauhan

Posted On:  1 year ago


FAQS on Appeals, Review and Revision in GST as per Goods and Service Tax (GST)

Yes. Any person aggrieved by any order or decision passed against him has the right to appeal. It must be an order or decision passed by an “adjudicating authority”.However, some decisions or orders (as provided for in Section 93) are not appealable.

article author CA Chirag Chauhan

Posted On:  1 year ago


FAQs on Advance Ruling as per Goods and Service Tax (GST)

As per section 94 of Model CGST/SGST Law, ‘advance ruling’ means a written decision provided by the authority to an applicant on matters or on questions as enumerated in section 97 and appeals thereon (section 99).

article author CA Chirag Chauhan

Posted On:  1 year ago


FAQs on GST Payment of Tax as per Goods and Service Tax (GST)

In the GST regime, for any intra-state supply, taxes to be paid are the Central GST (CGST, going into the account of the Central Government) and the State GST (SGST, going into the account of the concerned State Government). For any inter-state supply, tax to be paid is Integrated GST (IGST) which will have components of both CGST and SGST. In addition, certain categories of registered persons will be required to pay to the government account Tax Deducted at Source (TDS) and Tax Collected at Source (TCS

article author CA Chirag Chauhan

Posted On:  1 year ago


FAQs on Valuation in GST as per Goods and Service Tax (GST)

The value of taxable supply of goods and services shall ordinarily be ‘the transaction value’ which is the actually the price paid or payable, when the parties are not related and price is the sole consideration. The MGL further elaborates various inclusions and exclusions from the ambit of transaction value. For example, the transaction value shall not include refundable deposit, discount allowed before or at the time of supply

article author CA Chirag Chauhan

Posted On:  1 year ago


FAQs on Time of Supply as per Goods and Service Tax (GST)

The time of supply fixes the point when the liability to charge GST arises. It also indicates when a supply is deemed to have been made. The MGL provides separate time of supply for goods and services. Section 12 of the MGL provides for time of supply of goods. The time of supply of goods shall be the earliest of the following namely, the date on which the goods are removed by the supplier, where the supply of goods require removal; or the date on which the goods are made available where the supply does not require removal; or  the date on which the supplier issues invoices with respect to the supply where the above

article author CA Chirag Chauhan

Posted On:  1 year ago


FAQs on Meaning and Scope of Supply as per Goods and Service Tax (GST)

The taxable event under GST shall be the supply of goods and / or services made for consideration in the course or furtherance of business. The taxable events under the existing indirect tax laws such as manufacture, sale, or provision of services shall stand subsumed in the taxable event known as ‘supply’.

article author CA Chirag Chauhan

Posted On:  1 year ago


FAQs on Registration as per Goods and Service tax (GST)

Registration under Goods and Service Tax (GST) regime will confer following advantages to the business: Legally recognized as supplier of goods or services.  Proper accounting of taxes paid on the input goods or services which can be utilized for payment of GST due on supply of goods or services or both by the business.  Legally authorized to collect tax from his purchasers and pass on the credit of the taxes paid on the goods or services supplied to purchasers or recipients.

article author CA Chirag Chauhan

Posted On:  1 year ago


FAQs on Levy of and Exemption from Tax as per Goods and Service Tax (GST)

Article 246A of the Constitution, which was introduced by the Constitution (101st Amendment) Act, 2016 confers concurrent powers to both parliament and state legislatures to make laws with respect to GST. However, -clause 2 of Article 246A read with Article 269A provides exclusive power to the Parliament to legislate with respect to inter-state trade or commerce.

article author CA Chirag Chauhan

Posted On:  1 year ago


FAQs on Overview of Goods and Services Tax (GST)

This article provide an overview about Goods and service tax, various concepts relating to GST. It clarifies the concept of destination based tax on consumption, which taxes will be replaced by GST

article author CA Chirag Chauhan

Posted On:  1 year ago


The Maharashtra Ownership Flat Act 1963 [MOFA] Comes Into Force

```According to Circular Dated 9th July 2016, Issued By The Maharashtra State Police Department, The Govt Has Implemented The *Maharashtra Ownership Flat Act-1963 ( MOFA) & the MRTP Act 1966. Accordingly Builders Are Liable To Be Jailed For 3 Years, 5 Years or 9 Years Depending Upon The Nature Of Violation Of The Act.

article author Dharmesh Jain

Posted On:  1 year ago


G.S.T - one nation, one tax in brief

In today’s article we will share some basic details of G.S.T being ONE NATION, ONE TAX. G.S.T is much politically talked & debated topic in the recent past. In fact, it has also got lots of attention from around the world apart from the common peoples of India.

article author CA BHAVESH HINGU

Posted On:  1 year ago


Audit by department: Justified or not?

“Audit” – One of the most dreaded consequence of getting registered with the service tax department. Nobody wants to get strangled in the vicious circles of departmental audit and yet, sooner or later, you have to face the dungeon of audit. Times and now, questions have been raised on the qualifications and eligibility of the officers of the department to conduct audit, but the Government has proved to be adamant in continuing the ritual despite of the poor results of such audits

article author CA PRADEEP JAIN

Posted On:  1 year ago


E- Nivaran- hassle free solution for your tax related grievances

E- Nivaran is a special grievances redressal system launched by the income tax department in order to track the taxpayer complaints and resolve them as early as possible. This system is enabled on each assessee’s ID who is registered on the Income tax e-filing portal. The assessee can file his complaint relating to his/ her income tax return online and can resolve their problem from different departments like NSDL, UTISL or CPC. The assessee doesn’t have to visit the IT office for submission of documents as he can upload the documents through e- Nivaran. The following are the various categories and sub category of departments with whom we can lodge our complaint and resolve the same

article author CA Chirag Chauhan

Posted On:  1 year ago


Latest Baggage Rules in India & Classification of Articles

Baggage rules are nothing but in simple language rules related to luggage of a passenger travelling be it a resident or tourist or an Indian or a foreigner. Every individual so travelling should roughly have an idea about the rules relating to Baggage rules in India so as to avoid any kinds of problems or inconviences. Baggage also includes dutiable goods imported by passengers in their respective baggage. Baggage also includes unaccompanied baggage

article author CA Chirag Chauhan

Posted On:  1 year ago


Different ways in which remittance can be done by Non Resident Individual – NRI

Remittance is something that we have heard about but how many of us know what it actually is and how can it facilitate Non- Resident Indian’s or Persons of Indian Origin or Foreign Nationals. Remittance simply means transfer of money by a foreign worker to an individual in his or her home country. This money sent home works as an international aid as one of the largest financial inflows to developing countries. It’s glad to know that now Indian rupee has become fully convertible. Therefore, NRI’s no more have to hesitate and can now look forward to good investments opportunities in their home country without the fear of whether they would be able to move the funds aboard as and when the need may so arise.

article author CA Chirag Chauhan