Tax Mohalla - Tax by KK

In #GST_ISD is an office of supplier of | best teacher for idt ca final | goods or services or both. For the purpose of distribution of credit on input services it shall take separate GST registration. | GST Certification course | Where #GST_credit is attributable | GST Training | to single recipient credit shall be distributed to that recipient. Where GST credit is attributable to more than one recipient then GST credit shall be distributed as per the turnover in a State / UT ratio. Turnover shall not include GST taxes, excise duty, VAT and Central Sales Tax. ISD shall distribute credit in same month of receive of #GST_invoices . ISD shall file GSTR 6 by 13th of every month.

What is taxable supply in GST? | GST Certification course | What is exempt supply in GST? | best teacher for idt ca final | What is non levy supply in GST? What is levy? How to study GST? Sir I am CA Final IDT student CMA final IDT student CS professional IDT student CA intermediate taxation student CMA inter tax student CS executive tax student Accountant Lawyer B.Com Chartered Accountant or any one who want to excel in GST and you are looking for GST online certification course then i would urge you to visit our store. Section 2(47) “exempt supply” means supply of any goods or services or both which attracts nil rate of tax or which may be wholly exempt from tax under section 11, or under section 6 of the Integrated Goods and Services Tax Act, and includes non-taxable supply; Section (108) “taxable supply” means a supply of goods or services or both which is leviable to tax under this Act; Section 2(78) “non-taxable supply” means a supply of goods or services or both which is not...

GST being levied by both Centre and State at same value. It avoid cascading. India being a federal country, it was not easy to implement GST in India. The first step was to amend Constitution of India. BY One Hundred and Twenty Second Amendment Bill of the Constitution of India, GST was brought into being. New Articles were introduced. Schedule VII was amended where both Center and State had power to levy GST on supply of goods or services or both. Center shall levy CGST and State shall levy SGST, if supply is intra state supply. But where supply is inter state supply IGST shall be levied and it's fund shall be apportioned as per Section 17 of IGST Act. IGST ensures that GST reaches to consumption state. In today's India the most powerful body is GST council which can only recommend changes in GST. All recommendation are recorded in the minutes of GST council which is published in their website. In GST council Centre has 1/3 rd of weighted vote and State has 2/3rd of weighted v...

The GST regime came to India w.e.f. 1-7-2017 . But before GST regime following taxes were levied namely:- a. Excise duty on manufacture of goods in India b. Service tax on provision of services. Both the above taxes were levied and collected by Central Govt. c. VAT i.e. sales tax on sale of goods was levied and collected by respective State Govt. if sales of goods were made within that State only. Apart from above if there was inter state sale, Central Sales Tax was levied by Central Govt. but collected by origin State. There are few products on which still excise and / or VAT/CST is levied. a. Petroleum products. Excise duty levied by Central Govt. and VAT/CST by State Govt. b. Alcoholic liquor for human consumption. Both excise duty and VAT by respective State Govt. There is one product tobacco on which excise duty is levied by Central Govt. and GST is also levied. So, it is not that after GST, these taxes has been abolished. They are very much in India and is still applicable. It w...

GST is tax on expenditures. It is indirect tax. It is consumption tax meaning thereby this tax shall be recovered from that person who consumes either goods or services. The tax shall be collected by that Govt. where it is being consumed. The origin of GST can be traced to VAT. VAT not being a tax is method of collection of tax. Tax is sales tax which is of three types a. Single point sales tax b. Multiple point sales tax i. First point ii. Last point There are three method of collection of tax a. Addition method b. Subtraction method c. ITC method.

What is tax Tax is basically a compulsory fees charged by the Govt. on the person and on the supply of goods. When it is levied on person it is income tax and when levied on consumption of goods it can be either goods and service tax or can be called custom duty. In either ways purchasing power of the person decreases. But why Govt. need to collect tax. It collect tax to re-distribute for the larger goal and benefit of the country. Rich pays more tax than the poor. Direct tax follows source basis or resident basis of taxation whereas Indirect tax follows consumption principle of taxation. That's the reason import are taxable and exports are not taxable.