Where a supplier is not required to charge any tax, he shall raise a bill of supply instead of invoice. Bill of supply will be raised by:

The government has clarified rules of invoicing under GST along with a template of invoice (GST INV-01) covering particulars like supplier’s details, GST tax rates etc.

Goods and Services Tax aims at providing seamless flow of credit throughout supply chain.

All registered taxpayers are free to design their own invoice format under GST However, it is required that certain fields as mentioned in the invoice.

Taking a strong note of builders and construction companies forcing buyers to make full payment before the roll-out of the Goods and Services Tax (GST) on July 1, the Center has warned builders of punitive action for trying to mislead home buyers that they will have to pay more tax under the GST regime.

Job work means undertaking any treatment or process by a person on goods belonging to another registered taxable person.

Both Composite supply and Mixed supply consist of two or more taxable supplies of goods or services or both.

There is a sharp cut in the rate of making charges for jewellery and diamond processing industry, the Goods and Service Tax (GST) Council reduced the applicable rate on making charges from 18 per cent to just 5 per cent.

Schedule II of the Central Goods & Services Tax Act, 2017 lists activities which are to be treated as supply of goods and supply of services. In this issue, activities which form supply of goods are discussed. The next issue will cover the list of activities to be treated as supply of services, as enumerated in Schedule II.

Schedule II of the Central Goods & Services Tax Act, 2017 lists activities which are to be treated as supply of goods and supply of services. In this issue, activities which form supply of goods are discussed. The next issue will cover the list of activities to be treated as supply of services, as enumerated in Schedule II.

Section 22 of the Central Goods & Services Tax (CGST) Act, 2017 specifies persons who are liable for registration under GST whereas section 24 of CGST Act 2017 specifically provides list of persons who are compulsorily required to take registration. A list of such persons liable to obtain registration under CGST Act 2017

Goods and service tax network (GSTN], the technology backbone of GST. It provides IT infrastructure and services to the Central and State Governments, taxpayers and other stakeholders for implementation of the GST.

As per sub-section 2 of section 24 of CGST Act, 2017, every person who is registered under the existing indirect tax laws, are required to migrate to the GST law on a before the appointed date.

As we know Goods and Service Tax (GST) will 100% be implemented on 01-07-2017. Here are some point which help you to understand the whole concept of GST.

If you are CS/CA/CMA and have not read much about GST reforms and want to know all about it, this is the right place, to begin with, you are at right place, we here to guide you to begin your journey of knowledge towards GST.