The complexity of taxation in India is akin to mastering a new terrain. Among the transformative amendments in recent years stands the Goods and Services Tax (GST), a monumental stride towards simplifying indirect taxation. At its heart lies the GST Identification Number (GSTIN), a digital passp...
Under GST, the existing system of levy of tax on manufacture, provision of taxable services, and sale of goods will be replaced by the concept of ‘Supply’. Thus, it is of extreme importance, to understand the “place of supply” meaning in determining the right charge of tax on supply...
GST is a destination-based tax, meaning the tax revenue goes to the state where the goods or services are consumed. The GST council, consisting of the central and state government representatives, decides on the tax rate and any changes to the GST law. GST News Updates month-wise 2024-25...
If regulators are going to deal in hypotheticals, as the CCI has, their theories and reasoning must be watertight, meaning there must be no counterfactuals or exceptions. The CCI’s reasoning is currently riddled with inconsistencies because it is relying on experimental, rather than established th...
[1] The meaning of financial institution is to be taken from section 45-I(c) of RBI Act, 1934. [2] See a few advance rulings on the subject by West Bengal AAR, Tamil Nadu AAR. Also see a few articles on the subject: https://www.livelaw.in/law-firms/law-firm-articles-/input...
Whether the medicines, consumables and implants used in the course of providing health care services to in-patients for diagnosis or treatment would be considered as 'Composite Supply' and accordingly eligible for exemption under the category 'health care services'? Held The AAR, ...
The AAR, Maharashtra dismissed the applicant’s (DCCI) assertion that the meaning of commerces includes within its domain only buying and selling of goods and services and that too especially in large amounts. The AAR Maharashtra commented that anything which assists trade comes within the domain...
(CGST + SGST/UTGST on intrastate supplies and IGST on interstate supplies). GST Cess will be levied on supply of certain notified goods – mostly belonging to the luxury and demerit category. In order to understand what is GST Cess and the GST Cess meaning, one needs to understand the ...