Here are a few important points that need to be noted regarding GST: GST shall be completely implemented by 1st of June 2017. Types of taxation in GST IGST: Integrated GST CGST: Central GST which with replacement CST SGST: State GST which will replace VAT The migration towards the enrolment of GST will start again […]
Goods and Services Tax (GST): Salient Features The introduction of GST is going to be a very important step in the field of indirect tax reforms in India. It is perceived that GST would increase the competition of our products in both Domestic and International markets. Many studies have proven that such a situation would […]
Impact of digitalization in GST There will be very little interface between the tax payer and tax authorities under GST. Certain important provisions in this regard are as follows: The registration will be granted on-line and shall be considered to be granted if no deficiency is communicated to the applicant within 3 common working […]
GST: Input Tax Credit Mechanism The provisions of input tax credit have been prone to the process of taking legal action. The Model GST law provides an elaborate mechanism for availment and utilization of ITC and seeks to impart clarity so as to minimize disputes. The important provisions of the law are as follows: The […]