Goods and Service Tax (India) – FAQ 31.03.2017 by CBEC Valuation in GST Chapter 6 Q 1. What is the value of taxable supply to be adopted for the levy of GST? Ans. The value of taxable supply of goods and services shall ordinarily be ‘the transaction value’ which is the price paid or payable,… Read More »
Goods and Service Tax (India) – FAQ 31.03.2017 by CBEC Time of Supply Chapter 5 Q1. What is time of supply? Ans. The time of supply fixes the point when the liability to charge GST arises. It also indicates when a supply is deemed to have been made. The CGST/SGST Act provides separate time of… Read More »
Goods and Service Tax (India) – FAQ 31.03.2017 by CBEC Registration Chapter 3 Q 1. What is advantage of taking registration in GST? Ans. Registration under Goods and Service Tax (GST) regime will confer following advantages to the business: Legally recognized as supplier of goods or services. Proper accounting of taxes paid on the input… Read More »
Goods and Service Tax (India) – FAQ 31.03.2017 by CBEC Levy of and Exemption from Tax Chapter 2 Q 1. Where is the power to levy GST derived from? Ans. Article 246A of the Constitution, which was introduced by the Constitution (101st Amendment) Act,2016 confers concurrent powers to both, Parliament and State Legislatures to make… Read More »
Held When the income embedded in the payment is not liable to be taxed at the point of time when account of the non-resident was credited, in view of the fact that, under the related DTAA, tax liability can only arise at the point of a subsequent event i.e. payment. When income embedded in the… Read More »
Taxation of royalty from patent u/s 115BBF Summary : CBDT has notified new Rule 5G of the Income-tax Rules 1962 for Option form for taxation of royalty from patent u/s 115BBF and Notified Form No. 3CFA. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 31st March, 2017 INCOME-TAX G.S.R.… Read More »
TCS on Cash Sale of Goods or Services w.e.f 01.04.2017 Finance Act 2017 had Deleted the Clause 206C(1D) and (IE) from Income Tax Act w.e.f 01.04.2017 . Thus person is not required to collect TCS on Cash Sale of Goods or services or bullion ( exceeding Rs 2 Lakh) or jewellery (exceeding Rs 5 Lakh ) w.e.f… Read More »
Goods and Service Tax (India) – FAQ 31.03.2017 by CBEC Overview of Goods and Services Tax (GST) Chapter 1 Q1. What is Goods and Services Tax (GST)? Ans. It is a destination based tax on consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to final… Read More »
Goods and Service Tax (India) – FAQ 31.03.2017 by CBEC Meaning and Scope of Supply Chapter 4 Q 1. What is the taxable event under GST? Ans. The taxable event under GST shall be the supply of goods or services or both made for consideration in the course or furtherance of business. The taxable events… Read More »
LAW AND PROCEDURE ON CHARITABLE TRUSTS AND RELIGIOUS INSTITUTIONS Paperback – 2017 by S.Rajaratnam (Author), M.Natarajan (Author), C.P.Thangaraj (Author) -16th Edition 2017-18 (A.Y. 2018-19) AN INDISPENSABLE GUIDE RELATING TO TAX AND OTHER MATTERS FOR VOLUNTARY AGENCIES. AS AMENDED BY THE FINANCE ACT, 2017 Price Rs 2077. Click to buy Online Related Books on Income Tax Subjects… Read More »