Two states and entities are involved in case of a bill to ship transactions model, a very common model observed these days. This means that the billing and the shipping are done separately. Therefore, to eliminate the cascading effect...
Under the current indirect tax regime, any taxable service being provided or rendered is subject to payment of service tax. Service tax is levied centrally and thus is charged irrespective of whether the service has been provided on an...
An immovable property refers to a property that is attached to the earth and cannot be moved or uprooted from where it has been constructed for placing in another location, such as land and buildings. Under the current indirect...
In this article, we aim to highlight how to ascertain the place of supply of specific services. We have provided a brief overview of the kind of specific services and provided an example to supplement the same as follows...
Metrics are involved to determine the value of goods and services being sold in an economy – and these metrics differ from economy to economy depending on the financial and economical ecosystem. Under the current indirect tax regime in...
Complying with the laws related to taxes includes compliance with maintaining accounts books, invoices, records etc. Every business must be aware of invoicing, rules related thereto and know these in detail. We have provided an overview, assessing the process...
Taxable events and rate of tax differs from one taxable person to another under the current / erstwhile indirect tax regime. These include Central tax upon removal of excisable goods;VAT on the sale of goods;Service tax on the provision of...
We have previously discussed how supply of goods and services takes place under the GST with respect to business activities related to operations such as sales, disposal of assets, transfer of assets etc. In this article, we aim to...