Tag - gst article

GST DUNIYA. (Part – 10)

GST on Restaurant servicesHope 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 Part8 Part 9 Today we will discuss about GST on Restaurant servicesGST on restaurant services: We all know that most of us are very much fond of eating in restaurants. So now under GST Regime as tax rates are changed,It is important for us to understand the rates levy on restaurants. May be [...]

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 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 [...]

UNION CABINET APPROVES 4 GST BILL

The Union Cabinet has cleared four bills related to the Goods and Services Tax (GST), ahead of their introduction in Parliament, to enable roll out of the tax reform from July 1. Approval of the bills by Parliament and a separate one by all state Assemblies will complete the legislative process for roll out of the GST, the one-nation-one-tax system that merges central taxes like excise duty and service tax and state levies like VAT.What is GST bill?  Goods and [...]