Taxation

Treatment of Reverse charge under GST

Hello Everyone coming with another article in this new year on Reverse Charge under GST, Reverse charge is a mechanism where recipient of goods and/ or services is liable to pay GST instead of supplier.Now What is Reverse Charge ?Under Normal Scenario, tax is paid by a supplier who makes supply of goods or services or both. However, under Reverse Charge Mechanism, liability to pay tax would not be on the supplier of goods or services or both but on the [...]

Base Erosion & Profit Shifting – A Global Challenge

Base Erosion & Profit Shifting – A Global ChallengeMeaning:“Recently more and more enterprises organised abroad by American firms have arranged their corporate structures aided by artificial arrangements between parent and subsidiary regarding intercompany pricing, the transfer of patent licensing rights, the shifting of management fees, and similar practices in order to reduce sharply or eliminate completely their tax liabilities both at home and abroad.”So, Base erosion and profit shifting (BEPS) refers to tax avoidance strategies that exploit gaps and [...]

HOW TO FILE GST TRANS-1

 BACKGROUNDI would like to Owe to all the readers for providing good response& Appreciation to my article “GEAR UP FOR THE FIRST GST RETURN(GSTR-3B)”.Various registered persons under GST Act have input credit balance of OLD LAWS (Excise, Servicetax, Value Added tax, Entry Tax (In some cases)) which they want to be carried forward in GST. Hence government has come up with transitional provisions to entertain such credit to be carried forward.However, over the period of two months we have [...]

GST Presentation – 3

Here we comes up with the 3rd ppt that deals with the REVERSE CHARGE under GST.These Presentations are the part of "GST - A New Awareness" by Kanika Aggarwal - A series of powerpoint presentations on GST.For Detail study you can also refer GST Duniya series on www.atulkhurana.com.Click here to DownloadIn case of any query related to above article, the questions can be asked by commenting in the comment box or the author can be contacted personally at [email protected] or [...]

GST DUNIYA. (Part – 9)

Hope you had read the previous parts of the GST Duniya series, if not, then read it from here:Part 1  Part 2 Part 3 Part 4 Part 5 Part 6 Part 7 Part 8Today we will discuss about the Amendments in GST. As we all know GST has been rolled out from july 1,2017. So for its better implementation, various meetings had taken place and some important decisions which were taken in these meetings are explained below:Update About Composition Scheme :Composition Levy (SECTION 10)In terms of section 10(1), [...]

GST Presentation – 2 (Basics)

Here we comes up with the 2nd ppt that deals with the Basics of GST.These Presentations are the part of "GST -  A New Awareness" by Kanika Aggarwal -  A series of powerpoint presentations on GST.For Detail study you can also refer GST Duniya series on www.atulkhurana.com.Here is the Link of our 2nd presentation that deals with overview of GST.Click here to Download In case of any query related to above article, the questions can be asked by commenting in the [...]

GST DUNIYA. (Part – 8)

we are extremely sorry for the delay. There were some technical problems due to which we couldn't post the updates but now we are back in action. Hope you had read the previous parts of the GST Duniya series, if not, then read it from here:Part 1Part 2Part 3Part 4Part 5Part 6Part 7Today we will discuss about Penalties and Prosecutions  in GST  Various Penalties and Prosecutions under GST regime are explained below: First of all there is a need to understand,why penalty imposes on [...]

GST Presentation – 1 (Overview)

"GST -  A New Awareness" by Kanika Aggarwal -  A series of powerpoint presentations on GST. For Detail study you can also refer GST Duniya series on www.atulkhurana.com.Here is the Link of our 1st presentation that deals with overview of GST.Click here to Download

GST DUNIYA. (Part – 7)

Hello Readers,Hope you had read the previous parts of the GST Duniya series, if not, then read it from here:Part 1Part 2Part 3Part 4Part 5Part 6Today we will discuss about Concept of supply  in GSTLet’s start:Meaning and Scope of supply (Section 7)Supply includes all forms of supply of goods and /or services such as sale, transfer, barter, exchange, license, rental, lease or disposal for consideration. Consideration can be either in form of monetary consideration or non-monetary consideration.It means consideration can be [...]

GST DUNIYA. (Part – 6)

 Hello Readers,Hope you had read the previous parts of the GST Duniya series, if not, then read it from here:Part 1Part 2Part 3Part 4Part 5Today we will discuss about Returns in GSTLet’s start:Under the GST law, a normal taxpayer will be required to furnish three returns monthly and one annual return, It means total 37 returns need to be file in GST law.. Similarly, there are separate returns for a taxpayer registered under the composition scheme, taxpayer registered as an Input [...]