Understanding GST Model law - Def. Import and Export of goods

  • Category: GST
  • Date: 20-12-2016
  • Writers: CA Madhukar N Hiregange, CA Roopa Nayak

Understanding GST Model Law - Def. - Continuous Supply

  • Category: Others
  • Date: 19-12-2016
  • Writers: CA Madhukar N Hiregange, CA Roopa Nayak

Under model GST law, tax is levied on the supply of goods and/or services. Tax, namely CGST/SGST is payable at the time of supply of goods and/or services.   

In respect of certain categories of supplies which are provided on recurring or repetitive basis under contract, time of supply is determined based on provisions set out in this regard in GST law. In this context paper writer has examined what is continuous supply of goods and services under model GST law.     

What is...

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Understanding GST Model Law - Def. - Continuous Supply

  • Category: GST
  • Date: 19-12-2016
  • Writers: CA Madhukar N Hiregange, CA Roopa Nayak

Procurement Planning and Vendor Management under GST

  • Category: Others
  • Date: 17-12-2016
  • Writers: CA Ashish Chaudhary, CA Madhukar N Hiregange

Proper procurement planning and vendor management is going to be key during GST regime especially during transition phase and upto sometimes post migration. There after there may be need to have continuous relook at professionalism of vendor base and the need to reconsider alternative source of procurement so that the overall cost of procurement is optimized.  

Few important aspects in procurement planning and vendor management could be as follows:    

  1. Procurement from...

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Procurement Planning and Vendor Management under GST

  • Category: GST
  • Date: 17-12-2016
  • Writers: CA Madhukar N Hiregange, CA Ashish Chaudhary

Understanding GST Model Law - Definition of Capital Goods, Inputs and Input Services

  • Category: Others
  • Date: 16-12-2016
  • Writers: CA Madhukar N Hiregange, CA Roopa Nayak

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...

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Understanding GST Model Law - Definition of Capital Goods, Inputs and Input Services

  • Category: GST
  • Date: 16-12-2016
  • Writers: CA Madhukar N Hiregange, CA Roopa Nayak

Understanding GST Model Law - Definition of Works Contract

  • Category: Others
  • Date: 15-12-2016
  • Writers: CA Madhukar N Hiregange, CA Roopa Nayak

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...

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Understanding GST Model Law - Definition of Works Contract

  • Category: GST
  • Date: 15-12-2016
  • Writers: CA Madhukar N Hiregange, CA Roopa Nayak

Understanding GST Model Law - Input Tax Credit

  • Category: Input Tax Credit
  • Date: 05-12-2016
  • Writers: CA Madhukar N Hiregange, CA Roopa Nayak

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...

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