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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 …

GST -No New Tax to be Imposed Now by States

GST -No New Tax to be Imposed Now by States

Courtesy :  Dr. Sanjiv Agarwal, FCA, FCSIndian federal structure and constitutional powers of states allow both, the Union and States to levy taxes on the subjects in terms of Constitution of India. While there are powers to levy taxes by …

Can proposed GST be called Indirect tax?

Can proposed GST be called Indirect tax?

By B S V Murthy, former Member, CESTAT PROPOSED model for GST appears to have been drafted by taking provisions from different legal provisions which already exist in various statutes that exist for collection of indirect taxes of different …

READING DOWN MODEL IGST ACT (PART-4)

READING DOWN MODEL IGST ACT (PART-4)

'Supply' is going to be altogether a new concept in the indirect taxation, far away from manufacture (central excise), provision of service (service tax) or sale (value added tax). This concept will change the citus of taxation from 'origin' to …

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