Transitional Provisions in case of Unutilized balance of CENVAT Credit (of Excise Duty) lying in books as on 30.06.2017 (Section 140(1) under CGST Act) A registered person under GST (other than those who opt to pay GST under Composition Levy)…
Law for Scope of Supply is provided in Section 7 of CGST Act. Scope of Supply means those supplies which shall be considered as Supplies for levy of GST. As per general rule, every transaction in the normal…
Place of Supply means the location where the supply of Goods or services of both have been affected. In simple words, place of supply means the place where goods/services are consumed for personal use or used in the…
As we know, GST is going to make a historic change in the indirect taxation system in India w.e.f. 1 July 2017. It will impact almost all the sectors in the country whether with small affects or with…
Concept of Composite Supply: Concept of Composite Supply brought in law to easily identify and decide tax structure of supplies. There might be separate HSN Code, separate tax rate for goods/services included in a grouped supply. However, if…
Schedule-I of CGST Act 2017 provides a list of activities which would be considered as supply even if made without consideration. Entry no. 2 of such list provides that “Supply of goods or services or both between related…
Every supplier shall be liable to be registered under GST in the State from where he makes a taxable supply of goods and/or services, if: his aggregate turnover in a financial year exceeds 20 Lakh rupees, (if supplier…
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