Free supplies of goods and services have been frequently used by the businesses to promote their products in the market. The situation arises when the receiver/ buyer tries to obtain good quality material at a bargained price in the market.
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Free supplies of goods and services have been frequently used by the businesses to promote their products in the market. The situation arises when the receiver/ buyer tries to obtain good quality material at a bargained price in the market.
GST, with the hope of billions to provide a better way to transact in a business and to eliminate the cascading effects under the previous tax system, it is the biggest tax reform in India ever. Although the system is very new to all and the taxpayers are not well-versed with the new indirect tax nomenclatures, we can expect that by the time it will go flawlessly.
After the implementation of GST, it was significant to the under various provision regarding the ITC availability in the matter of sale and purchase of capital goods under the goods and services tax regime.
Find all the latest updates on GST council meetings held after the implementation of goods and services tax. The latest 31st GST council decides about GST new return filing system, GSTR forms revisions, GoM meeting along with GST slab rate reduction.
Definition Of AAR Under Section 100 Of The CGST Act, 2017: An Authority For Advance Rulings (AAR) is a platform to resolve the doubts regarding Goods and Services Tax on questions specified under CGST act.
Online GST registration application is an essential step under GST regime for every taxpayer or business owner whose annual turnover is above 20 lakh.
It is necessary for a large corporate business to the small one to be updated and file the GST returns very carefully because it can lead to errors which can cost a penalty or money hold with electronic cash ledger.
Exporters and industry bodies pretend their problems related to the Goods and Services Tax (GST) such as full exemptions, timely refund of duties and easier compliance to Finance Minister Arun Jaitley.
July was the first month after GST implementation and businesses were not well-versed with the new tax system and technical glitches. Still, the GST collection was 95,000 crore.