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16 June 2017

Supply Free of Related and Distinct persons under GST

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In this article, we have provided a snapshot of the differences between related and distinct persons under GST regime with respect to supplies without consideration. Who is a related person? The Customs Valuation Rules defines a related person and...

16 June 2017

Tax Implications For Exports and Imports Under GST

Tax laws applicable to our country prescribe duties to be charged on goods and services on their import and export. Under the erstwhile/current indirect tax regime, excise tax, service tax, customs duty, VAT are all charges on the tax...

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15 June 2017

The Value of Supply of Goods vs Services under GST

The model GST laws have shed clarity on determining supply as the supply of goods vs services by way of Schedule II. The reason for this clarification is because the current indirect tax regime is conflicted when it comes...

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15 June 2017

The Guide to e-Way Bill as an Invoice under GST

As a federal nation, the Constitution has empowered the central government to levy taxes and duties on manufacturing and providing services. State governments do this by way of charging taxes on interstate sale of goods and services where goods...

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15 June 2017

GST Invoicing – Specific Business Cases

GST Invoicing can be broadly classified under two heads – Tax Invoice Bill Of Supply Issued by a registered taxable person Issued by a registered taxable person Issued for the supply of a taxable good or service Issued for the...

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15 June 2017

How To Determine the Non-Monetary Value of Supply?

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Valuing a good or a service enables understanding its total cost, including the amount of tax that is required to be levied on it. Both the monetary and non-monetary value of supply need to be duely computed. In case...

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15 June 2017

Quick Guide To GST Returns

The GST has aimed to unify tax payments across the nation, therefore the key idea is to converge all the taxes – both state and central, and bring it under the ambit of the GST portal. Under the erstwhile...

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14 June 2017

Basics on Filing GST Returns

Confused on filing GST Returns? Here’s all you need to know. Every registered taxable person has to furnish outward supply details in Form GSTR-1 (GST Returns-1) by the 10th of the subsequent month. On the 11th, the visibility of inward supplies is...

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