Goods and Services Tax

With GST implementation around the corner, a look on the transitional items pertaining to builders engaged in construction of residential or complex is paramount. As all the readers would by this time know that the proposed rate of GST on supplies made by construction of complex, building, civil structure or

INTRODUCTION:   GST is globally enshrined as a successful tax reform that will reduce the cascading effect of taxes, ensuring no tax burden on business houses and shifts the complete tax burden on to the end customer or consumer. Seamless Input Tax Credit (ITC) is often lauded as major benefit

INTRODUCTION:   Under the present Excise Laws, the job worker who undertakes manufacturing activity are kept outside the tax net if the principal manufacturer undertakes the obligation to discharge excise duty on the finished goods sold to customers. These provisions require to reverse the credits availed by principal manufacturer on

INTRODUCTION:   The GST Council in its last concluded meeting broke the deadlock on progress of GST implementation i.e. administrative control of the Centre and States. It is broadly agreed that revised target date for implementation of GST in India as 01st July, 2017. In the meantime, finalization of GST

There were many audits conducted by the service tax authorities in and around Hyderabad during the last month on hotels, bars and restaurants. One of the common audit observation is the applicability of service tax on license fee paid to Government of Telangana to obtain license to sell alcohol in

Introduction:  At present, cross border services received by any individual or by Government or local authorities which are not in relation to business or commerce are exempt from service tax. Online database, access or retrieval services (hereinafter referred to as ‘OIDAR services’) provided by entities located outside India are not

The movement from existing regime to GST regime is gaining certainty with passing of each day. The recent council meetings give a sense of hope that the law shall be made effective from April, 2017. With GST around the corner, we would like to dwell upon on one of the

Introduction:   The Constitution (One Hundred and First Amendment) Act, 2016 (hereinafter referred to as ‘GST Constitutional Amendment Act) is been recently passed by Parliament, ratified by majority of the States and received President’s assent on 08.09.2016. Subsequently, Central Government has notified various provisions of the GST Constitutional Amendment Act

SERVICE TAX   Notifications:   Exempts the service tax on taxable services by way of transportation of goods by vessel: Notification no. 36/2016- ST   The service of transportation of goods by vessel from outside India up to the Custom station of India is made taxable w.e.f 01.06.2016. However, such

Introduction:   Section 66B provides for levy of service tax on services provided or agreed to be provided. On the other hand, we have Rule 5 of the Point of Taxation Rules, 2011(POT Rules) which can extend its arms to tax even those services which are provided prior to effective