The Gujarat authority upon an advance ruling for goods and services tax GST specified that the owners did not require to furnish GST on electricity or the charges taken from the tenants moreover, in addition, as the value of supply as per the lease agreement ofimmovable property rent. Gujarat...
This is part two of a two-part article on the concept of supply for GST purposes and is relevant for candidates preparing for P6 (MYS), Advanced Taxation. The article is based on prevailing laws as at 31 March 2015. The article is written on the assumption th...
GST is levied on all types of goods and services except petroleum products, and electricity, on which the taxes are levied by the state governments. It is divided into two parts namely, State Goods and Services Tax (SGST) collected by state governments and Central Goods and Services Tax (CGS...
However, GST registration charges vary depending on the type of business and turnover. Therefore, after successfully completing GST registration, the applicant will receive a unique GSTIN. The central government issues a state-wise, 15-digit number to applicants once the registration is completed; ...
Value of Supply: Under GST, the value of supply is the total amount collected by the seller from the buyer for the goods or services. When dealing with related parties, GST is charged based on the transaction value, which refers to the price at which unrelated parties would typically transac...
The Goods and Services Tax (GST) is an indirect tax imposed on India's supply of goods and services. The Goods and Services Tax (GST) is a multi-stage, a destination-based tax levied on all value additions. On July 1, 2017, GST went into effect, replacing most of the country's ind...
3.3 However, where the electricity is supplied by the Real Estate Owners, Resident Welfare Associations (RWAs), Real Estate Developers etc., as a pure agent, it will not form part of value of their supply. Further, where they charge for electricity on actual basis that is, they charge the...
VAT in Goods and Services Tax (GST) means the tax is imposed only on the value added at each stage of the supply chain. This ensures that the tax is not charged on the same value more than once and that the final customer bears the tax obligation. ...
I am beauty products retailer my Bussiness started 2 years ago but i want now GST no for dealing so what is a legal procedure for Gst registration - GST
#Inter state supply:-Businesses who engage in supply of goods or services outside its state boundaries must get registered with the GST Department. Such businesses are subject to Integrated Goods and Services Tax (IGST), which is charged on the supply of goods or services from one state to ...