Goods and Services Tax (GST) is considered as the biggest reforms in India. However, one thing that has become the talking point is – the mechanism of input credit under GST. In simple words, Input Credit means at the time of paying tax on sales, you can reduce the tax you have already paid on purchases. In…Read More Input Tax Credit (ITC) Under GST | How to Claim ITC In GST | How Input Tax Works Under GST | Documents and forms required to claim Input Tax Credit
Download here the Amendments , applicable standards for nov 2017. Download here the Pdf File Here :- Click HereRead More CA IPCC Amendments For Nov 2017
Transitional Arrangements for Input Tax Credit under CGST Act on unsold stocks by TRADERS Section 140(3) of Transitional Provisions of CSGT Act r/w Transition Rules The government is doing all that it can to implement GST (Goods & Services Tax) with effect from July 1, 2017. As we move towards a new era of taxation,…Read More Input Tax Credit under CGST Act on unsold stocks by Traders | Transitional Arrangements
Reverse Charge Mechanism Under GST | What is Reverse Charge in GST ? Reverse charge on specified Goods & Services Section 9(3) of CGST/SGST acts provides that, Government may specify categories of supply of goods or services which shall be paid on reverse charge basis i.e. tax shall be paid by the recipient of such goods or services.…Read More Reverse Charge Mechanism For Specified Goods & Services
1. What is Reverse Charge? Normally, the supplier of goods or services pays the tax on supply. In the case of Reverse Charge, the receiver becomes liable to pay the tax, i.e., the chargeability gets reversed. 2. When is Reverse Charge Applicable? 2.1. Supply from an Unregistered dealer to a Registered dealer If a vendor…Read More Reverse Charge Mechanism Under GST | What is Reverse Charge in GST ?