All posts by Raunak Jain - 27. page

Professional Tax Consultant and Article Writer

THE LIABILITY OF BEING TAXED FOR IGST : The liability to be taxed for IGST has not been laid out separately. Rather Section 2(2) provides that all those terms which have […]

COMPOSITION LEVY: It is a special provision for taxable persons with aggregate turnover below fifty lakh rupees. They would not be part of the credit chain and would not be able […]

EXEMPTIONS FROM BEING TAXED : As discussed in the previous section , exemptions from tax are sometimes needed to be made . These are often the need of the hour or […]

REMISSION OF TAX ON SUPPLIES FOUND DEFICIENT IN QUANTITY: This is an exception which can be made in the case of supplies which are found to be deficient in quantity due […]

THE POWER TO LEVY TAX : The power to levy tax is drawn from the Indian Constitution as it is the fundamental law and source of all laws therein. Since G.S.T. […]

THE INCIDENCE OF IGST : Section 4(1) levies IGST on all supplies of goods and/or services made in the course of inter-State trade or commerce. Section 4(3) levies IGST on specific […]

THE LIABILITY OF BEING TAXED : This is a critical aspect to understand especially from the perspective of those who have to pay tax and also for tax administrators. The legal […]

THE INCIDENCE OF CGST AND SGST : Section 7(1) of the CGST /SGST Act levies the tax on all intra-State supplies of goods and/or services.Section 7(3)levies CGST/SGST on specific categories of […]

Work on the Various Aspects of GST: Recent Developments and Work Ahead : (a) Model GST Law The Model GST Law, jointly drafted by the tax officials of the Centre […]

Conclusion  The target date for introduction of GST is 1st April 2017. Introduction of this transformational tax reform is expected to broaden the tax base, increase tax compliance and reduce economic distortions […]