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May 2017

May 18, 2017
01
Important Provisions in GST

Supply of goods & services is the taxable event in GST.  Supply requires consideration.  However, in some cases specified supply without consideration will be subject to GST.  Supply covers supply MADE or AGREED to be made in the course of furtherance of business.  Covers Advanced Receipt also. PLACE OF SUPPLY OF...

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May 18, 2017
02
GST – Some Aspects

A Customer who buys goods from a taxable person who is under composition scheme – IS NOT ELIGIBLE FOR ITC. • Interstate self supplies such as stock transfer will be TAXABLE. However, Intra state self supplies are NOT TAXABLE. • Business Assets put to a private or no – business use without consideration WILL BE...

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