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Model GST Law – Analysis

Analysis of Draft Model GST Act released by Govt of India About The Author: Mr. Himanshu Dhakad is a Chartered Accountant and company Secretary by Profession. The views are his personal views. For any queries you can follow him on twitter handle @hemanshow79 or can email him at hemanshow79@gmail.com. You can download the model GST […] Read More...

Goods and Services Tax (GST)

Goods and Service Tax(GST) Goods and Services Tax (GST) refers to the single unified tax created by amalgamating a large number of Central and State taxes presently applicable in India. The latest constitution Amendment Bill of December 2014 made in this regard, proposes to insert a definition of GST in Article 366 of the constitution […] Read More...

Goods and Service Tax – Story So Far

Introduction: Goods and Services Tax (GST) refers to the single unified tax created by amalgamating a large number of Central and State taxes presently applicable in India. The latest constitution Amendment Bill of December 2014 made in this regard, proposes to insert a definition of GST in Article 366 of the constitution by inserting a […] Read More...

Gist of Report of the JOINT COMMITTEE ON BUSINESS PROCESS FOR GST on GST Return

GST is a self-assessed destination based taxation system. The submission and processing of return is an important link between the taxpayer and tax administration as it is an important tool for: Compliance verification program of tax administration; Providing necessary inputs for taking policy decision; Management of audit and anti-evasion programs of tax administration; Finalization of […] Read More...

Exemptions theory in GST — Principles and Practices

Exemptions in GST — Whether viable or not? Universe and life in Universe often do not confirm to a linear mathematical model. In spite of best intention and efforts, it is difficult to design a perfect Tax system which is universally applicable for all times to come. Ability to adapt to changing realities is critical […] Read More...

Will GST serve its desired purpose with imperfections?

Issues in Current GST Bill: GST rates or RNR rates– Revenue neutral rates (RNR) in lay terms, is the rate that allows the Centre and State to sustain the current revenues from tax collection and, therefore, takes within ambit, among others, any tax losses because of tax subsumed, grant of input tax credits as well […] Read More...

Goods and Services Tax (GST )

Introduction to GST: One of the biggest taxation reforms in India — the Goods and Service Tax (GST) — is all set to integrate State economies and boost overall growth. GST will create a single, unified Indian market to make the economy stronger. The implementation of GST will lead to the abolition of other taxes […] Read More...