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Background  

GST is likely to be introduced w.e.f 1st July 2017. The understanding of the input tax scheme and its restrictions is imperative to ensure tax optimization for assesses. Representations have been made and among the many thousands of recommendations made, it is hoped the ones for permitting credit on all inputs, input services and capital goods used for business is given effect to in the final GST law.    

In this article, the paper writer has sought to give...

The GST article series was started with the basic concepts, now on definition. Next would be the transitional provisions (specified and left out) and ending up with some miscellaneous parts of GST not covered in the series.    

Introduction  

There are various kinds of contract entered in course of business. Some contracts are entered to make a sale of goods in course of business, while some are pure labour contracts. There is a third kind of contract which are composite...

This is the eight in the series of proposed articles on the GST Model law. No 7 was on Input Services tax credit. 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   

Same as Part - 7 (Please see earlier...

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...