Credit Note & Debit Note
CREDIT NOTE Reason of issue of credit note …
Invoice or Tax Invoice
A register person need to issue an invoice for the supply of services or goods or both.Under the GST regime, an “invoice” or “tax invoice” means the tax invoice referred to in section 31 of…
Tax Rates on Complex, Building, Flat etc.
Press Information BureauGovernment of IndiaMinistry of Finance 08-December-2018 17:16 IST Effective tax rate on complex, building, flat etc.It is brought to the notice of buyers of constructed property that there is no GST on sale…
DETERMINATION OF VALUE OF SUPPLY
Value of Supply Every financial statute makes provision for the determination of value as tax which is normally payable on ad-valorem basis. In GST also, tax is payable on ad-valorem basis i.e percentage of value of…
GST Audit- Detailed Analysis
GST is a trust based taxation regime wherein the assessee is required to self-assess his returns and determine tax liability without any intervention by the tax official.Therefore a tax regime that relies on self-assessment has…
Job Work under GST
What is meaning of job work? The term Job-work itself explains the meaning. A principal manufacturer can send inputs or semi-finished goods to a job worker for further processing. And after processing job worker will…
TDS UNDER GST
Meaning of Tax Deduction at Source TDS Tax Deduction at Source (TDS) is a system, introduced by the Income Tax Department. It is one of the mode to collect tax, under which, certain percentage of amount…