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Central Tax 1. Amending CGST Rules notification 10/2017-CT dt 28.06.2017 2. Assigning jurisdiction and power to officers of various directorates 3. Seeks to prescribe rate of interest under CGST Act, 2017 4. Seeks to notify the number of HSN digits required on tax invoice 5. Seeks to amend Notification no 6/2017-Central Tax dt 19.06.2017 6. […]
According to the new notification issued by the government, now, retailers and manufacturers can sell their old inventory as per the new GST prices till September. But several industries, companies, and businesses are upset with this announcement as to why the government has not issued this notification earlier.
Input tax credit is considered very significant for every business unit which are always in the need to invest in the business in the manner of capital.
The Goods and service tax is the biggest reform by the Indian government to tackle the complex tax rate structure that was followed until now.
SAG Infotech Blog is a source for all the latest GST notifications for the year 2024 regarding Central, Integrated, Union Territory, Compensation cess and their respective taxes applicable. Following the latest GST notifications in accordance with proper laws, rules, and rates is a must for every trading and business unit and will keep the tradition […]
Reverse charge is a mechanism under which the recipient of the goods or services is liable to pay the tax instead of the provider of the goods and services. Under the normal taxation regime, the supplier collects the tax from the buyer and deposits the same after adjusting the output tax liability with the input tax credit available. But under reverse charge mechanism (RCM), liability to pay tax shifts from supplier to recipient.
The new compliance and rules of Goods and Service Tax (GST) regime will be restricting small vendors and restaurants from the selling online due to issues of TCS.
Transition provisions under the GST laws address three important issues, related to all those Transitions of registrations, Transition of credit of central taxes paid on goods in stock and Transition of credit of state taxes paid on goods in stock.
As expected Goods and Services Tax (GST) Act, 2017 has changed the Indian tax system fundamentally and is the biggest tax reform since Independence.
