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READING DOWN MODEL IGST ACT (PART-6)

READING DOWN MODEL IGST ACT (PART-6)

The concept of place of 'supply of goods's new in indirect taxation as presently 'place of removal' is relevant in central excise and 'sale' is relevant for value added tax. With GST, place of removal will no longer be relevant which has been a …

GST and e-commerce: How tax collection burden can hit India

GST and e-commerce: How tax collection burden can hit India

Recently, the draft of the Goods and Services Tax (GST) law was released by the finance ministry. While there are no major surprises in the structure of the law from what was earlier envisaged by the Empowered Committee’s discussion papers, the …

GST – A ‘Vardaan’ for Indian economy

GST – A ‘Vardaan’ for Indian economy

Courtesy:  CA Rahul Singhi GST is a tax on goods and services with comprehensive and continuous chain of setoff benefits from the producer’s point and service provider’s point up to the retailer’s level. It is tax only on value addition at …

READING DOWN MODEL IGST ACT (PART-5)

READING DOWN MODEL IGST ACT (PART-5)

Chapter III of the Model IGST Act provides for levy and collection of tax (IGST) vide section 4. Section 4 is the charging section for levy of IGST corresponding to section 6 of CST Act, 1956 dealing with liability to tax on inter-state …

Understanding the GST Model Law- Input Tax Credit

Understanding the GST Model Law- Input Tax Credit

This is the seventh in the series of proposed articles on the GST Model law. 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 …

Model GST Law – Implications for Banking Sector

Model GST Law – Implications for Banking Sector

By Sushil Solanki, Principal Commissioner of Service Tax (Rtd) & Vishal Agrawal, Partner, TLC LegalCURRENTLY, the power to levy and collect Service Tax on all services is with the Centre. With the introduction of GST, the States would also …

Firewalling GST Tax Rate in Constitution

Firewalling GST Tax Rate in Constitution

Courtesy:  Dr Ravindran Pranatharthy, Advocate "I would rather the money was in the pockets of my people than in my treasury". - Queen Elizabeth I of EnglandTHAT was the wise response of Queen Elizabeth, the sixteenth century virgin monarch …

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