GST Composition Scheme contains an option for a registered taxable person having turnover less than the particular limit to pay tax at a lower rate subject to certain specified conditions.
This scheme has been introduced in order to help the small businesses from the larger compliance aspects…
GST, as the name suggests is a tax on goods and services, the sole taxable being event being “supply”.
Under Sec 7(1) of the CGST Act, the expression “Supply” includes – all forms of supply of goods or services or both such as sale, transfer, barter, exchange, license, rental, lease or dispos…
The following services related to healthcare are exempted from GST regime :
Business Process Outsourcing (“BPO”) and Knowledge Process Outsourcing (“KPO”) are engaged in providing back end support to Technology Support and were classifiable under the category of Business Auxiliary Service or Business Support Service upto 30.06.2012 under the selective based taxation regime …
Our client is into the field of transportation and provides time definite logistics services and solutions attaining the highest reliability standards. He has registered office in Kolkata. Majority of his operations is carried out in Chennai. No operations is carried out in Kolkata.He has raised the…
DEFINITION
Indian GST Law defines an Electronic Commerce Operator (Operator) as every person who, directly or indirectly, owns, operates or manages an electronic platform which is engaged in facilitating the supply of any goods and/or services.
Also a person providing any information or any ot…
Query : Our Valuable client has the given question – “Can the opening stock of purchase made against 2% CST, be declared and input tax credit can be taken upto 60% of the stock value”.
Answer:
You will be allowed to avail the Input Tax credit (only on taxes detailed below) held in the …
GST ON HOMEMAKER RUNNING A BOUTIQUE
Our valuable client is a homemaker running a boutique business from her residence. Her turnover for the FY16-17 was within Rs.20 lakh. She expects her turnover to increase beyond Rs.20 lakh in the current financial year. She has raised the following queri…
Question. Our valuable client is a professional services engineer based in India. He provides professional services to a company based outside India. But the services are provided mostly within India to the clients of the foreign company present in India. The foreign company has a representative off…