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September 5, 2017
Reverse Charge- Notification 5/2017

The persons who only supply goods/services on which reverse charge applies, are exempted from registering under GST registration. For example, For example, Ola Cabs enlist drivers to ply their cars. Drivers are providing chauffeur/driving services to Ola and Ola is the service receiver. Ola pays GST on the drivers’ services on reverse charge basis. Drivers are not...

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August 23, 2017
GST Alert 14 – GST Rate changes vide notification 202017

GST Update GST was made effective from 1.07.2017, only 53 days have passed and government has felt the need to tinker with the rates in a manner which will send all the connected industries and service providers back to the drawing board. These changes relate to following services: 1. Works Contract Services 2. Transport of...

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May 18, 2017
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
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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