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Understanding GST Model Law - Taxable Person
This is the sixth in the series of articles to understand the Revised GST Model Law. The purpose is mainly to create awareness and enable one to look at the unintended impact on his/her sector. It would aid in making representations to make this law tax payer friendly, simple and transparent.
The Revised GST Model Law has been put in public domain to get the feedback for amendments. This law requires in the opinion of the paper writers number of amendments to make it...
Read moreUnderstanding GST Model Law - Conceptual Issues to Succeed
Background
World over in well run countries VAT or GST (expression used interchangeably) have the following characteristics which are good and adopted by India such as merging multiple taxes, reducing the trade barriers (abolition of check posts and end of resulting corruption), fast track refunds among a few other aspects.
The Model GST law in its present form hosted for public comment appears on the face of it (in plain reading) a disaster waiting to take India down...
Read moreUnderstanding Model GST Law- Concept of "person"
Continuing the series of basic and simple articles on the Model GST law we examine some of the important definitions and concepts in the next few articles.
Background
Goods & Services Tax (GST) as the name suggests, is a tax on supply of goods or services. Presently, certain taxes are being levied only by the Central Government and certain taxes only by the State Government. However, GST would be levied by both the Central Government and State Government on the same...
Understanding GST Model Law - Definition of Levy & Supply
This is a part of the series of articles to understand the model law. The understanding of the definitions of terms being important is being discussed in the earlier one and the next few.
Background
The introduction of GST law has been fast tracked with the introduction of formats of invoices, registration and returns. The advancement of Budget to 1st week of February and winter session to 16th November in past few days confirms that. It is now clear that GST law would in...
Read moreUnderstanding GST Model Law - Place of supply of services
This is the eleventh in the series of articles to understand the GST Model Law. The purpose is mainly to create awareness and enable one to look at the unintended impact on his her sector. It would aid in making representations to make this law tax payer friendly, simple and transparent.
The GST Model Law has been put in public domain to get the feedback for amendments. This law requires in the opinion of the paper writers amendment to see that all the best practices across the...
Read moreUnderstanding GST Model Law - Job Work
This is the tenth in the series of articles to understand the GST Model Law. The purpose is mainly to create awareness and enable one to look at the unintended impact on his/ her sector. It would aid in making representations to make this law tax payer friendly, simple and transparent.
The GST Model Law has been put in public domain to get the feedback for amendments. This law requires in the opinion of the paper writers large number of amendment to make it workable
Understanding GST Model Law - Time of supply of services
This is the fifth in the series of articles to understand the GST Model Law. The purpose is mainly to create an awareness and enable one to look at the unintended impact on his her sector. It would aid in making representations to make this law tax payer friendly, simple and transparent.
The GST Model Law has been put in public domain to get the feedback for amendments. This law requires in the opinion of the paper writers large number of amendment to even make it... Read more
Understanding GST Model Law - Time of Supply of goods
This is the fourth in the series of articles to understand the GST Model Law. The purpose is mainly to create an awareness and enable one to look at the unintended impact on his her sector. It would aid in making representations to make this law tax payer friendly, simple and transparent.
The GST Model Law has been put in public domain to get the feedback for amendments. This law requires in the opinion of the paper writers large number of amendment to even make it...
Read moreUnderstanding GST Model Law - Meaning of "Supply"
This is the second in the series of proposed articles on the GST Model law. The purpose is mainly to create awareness and enable one to look at the unintended impact as maybe applicable for each sector/ person. It could also aid in representation needed for amendment of the Model GST Law to make it tax payer friendly and meet the objective of clarity, certainty and transparency.
Background
Under present indirect tax laws, the taxable event attracting the levy varies under...
Read moreGST Transitional Challenges: ongoing service contracts
India is on behest of implementing Goods and Service Tax (GST) which is said to be biggest tax reform since Independence.
One important aspect under GST would be to deal with transitional provisions especially in relation to ongoing contracts which have been entered into pre GST but not completed at the time of GST introduction. Present discussion is confined to transitional challenges on the contracts entered into by service providers only.
The conditions in contract...
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