Gst top advisors

06/02/2018

E-WAY BILL

05/12/2017

05/10/2017

What is the GST rate on seeds of wheat, paddy for sowing purpose ?

19/09/2017

Reverse Charge

The persons who only supply goods/services on which reverse charge applies are exempted from registering under GST registration.

For example, For example, Ola Cabs enlist drivers to ply their cars. Drivers are providing chauffeur/driving services to Ola and Ola is the service receiver.

Ola pays GST on the drivers’ services on reverse charge basis. Drivers are not required to register under GST thus removing the burden of tax compliance for individuals with limited resources (drivers) to large companies (Ola) with enough resources.

11/09/2017

GST Compensation Bill to detail revenue foregone by states
NEW DELHI: Government will introduce a bill in the winter session of Parliament beginning next week tabulating the revenue likely to be foregone by each state on account of subsuming of local taxes and the Centre's contribution to make up for the loss.

The GST Compensation Bill will provide a legal backing to the Centre's promise to compensate the states if their revenue growth rate falls below 14 per cent in the first five years of the GST roll out. The base year for calculating the revenue of a state has been decided as 2015-16.
"The compensation law would have the taxes subsumed and the revenue forgone by each state on account of GST implementation. It will give details on how the Centre plans to raise funds for compensating the revenue loss," an official said.

A separate law will give the provisions a statutory backing and there will not be any case of any understanding error between the Centre and the states in future. The winter session of Parliament begins on November 16.
The officials of the central government will finalise the draft GST Compensation Law by November 15 and thereafter it would be circulated to the states. The GST Council in its meeting on November 24-25 will discuss the proposed law.
Goods and Services Tax (GST) will replace all indirect taxes on goods and services imposed by central and state governments.

10/09/2017

04/09/2017

India is becoming more attractive to foreign firms but its path of reforms, including the implementation of the GST, will not be easy.

19/08/2017

https://twitter.com/ptcnewsindia/status/898912272818606084

“Good News to those filling GST online! The last date of filling GST has been extended to August 25 due to... https://t.co/RERhcIgeFO”

18/08/2017

http://www.firstpost.com/business/gst-relief-deadline-to-file-returns-extended-to-28-august-for-biz-with-transitional-credit-3943771.html

Those taxpayers that do not claim any transitional input tax credit will have to necessarily pay tax and file return in Form 3B before the due date of 20 August, the ministry said.