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Wednesday, August 24, 2016
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Tuesday, August 23, 2016
LIST OF STATES RATIFIED GST
S.NO
|
State
|
Passed On
|
Government
|
1
|
Assam
|
12th August, 2016
|
BJP, CM Chief Minister Sarbananda
Sonowal
|
2
|
Bihar
|
17TH August, 2016
|
RJD-JDU, CM Nitish Kumar
|
3
|
Jharkhand
|
17th August, 2016
|
BJP, CM Raghubar Das
|
4
|
Himachal Pradesh
|
22nd August, 2016
|
Congress, CM Virbhadra Singh
|
5
|
Chhattisgarh
|
22nd August, 2016
|
BJP, CM RAMAN SINGH
|
6
|
Gujrat
|
23rd August, 2016
|
BJP, CM Vijay Rupani
|
7
|
Madhya Pradesh
|
24th August, 2016
|
BJP,
CM Shivraj Singh Chouhan
|
-SOURCE- http://www.gstseva.com/gst-on-the-way-list-of-the-states-ratified-gst/
Tuesday, July 5, 2016
UPDATES FOR GST
SUBSCRIBE GOODS AND SERVICES TAX UPDATES ( GST )
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FOR MORE INFORMATION VISIT WWW.GSTSEVA.COM
STAY UPDATED.
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FOR MORE INFORMATION VISIT WWW.GSTSEVA.COM
STAY UPDATED.
INVOICING UNDER GST
To issue invoice for supply of Goods/Service by taxable persons is another interested and important task. Here you understand how:-
Name of the invoices:-
TAX INVOICE: FOR TAXABLE SUPPLY OF GOODS/ SERVICE
BILL OF SUPPLY: FOR NON-TAXABLE SUPPLY OF GOODS/SERVICES
When to issue?
Issue of Invoices, possibilities | Supply Of Goods | Supply Of Services |
After receiving of payment | Yes, Possible | Yes, Possible |
Before receiving of Payment | Yes, Possible | Yes, Possible |
Before Supply of Goods/Services | Not Possible | Yes, Possible |
After Supply of Goods/Services | Not Possible | Yes, Possible |
Reasons:-
- In case of supply of Goods -“A taxable person need to issue invoice mandatorily at the time of supply of Goods
- In Case of supply of services – “A taxable person need to issue invoice mandatorily within the prescribed time”.
What to include in invoice?
Apart from other things like GST registration no/Date/address etc, following are mandatory
PARTICULARS | Supply Of Goods | Supply Of Services |
Description | Yes | Yes |
Quantity | Yes | NA |
VALUE | Yes | Yes |
Tax thereon | Yes | Yes |
AMOUNT OF TAX TO SHOW
Amount of tax to be indicated in tax invoice and other documents
– SECTION 23 A.
AMOUNT OF TAX SHALL prominently indicate in all documents relating to:-
- assessment,
- tax invoice and
- other like documents,
the amount of tax which will form part of the price at which such supply is made.
COMMENT:- AS PER THIS PROVISIONS, IT IS NOT POSSIBLE FOR SUPPLIERS TO MARK-
“Inclusive Of Taxes” IN TAX INVOICES
NOTE:- IN PROVISION IT IS CLEARLY STATED THAT IT IS TO MENTION ON TAX INVOICE AND OTHER DOCUMENTS. However nothing mentioned about the- BILL OF SUPPLY.
A clarification may require- Meaning of Other Like documents
Or
Is Bill of supply other like documents?
Although as per our understanding Bill of Supply should not be part for section 23A.
FOR MORE UPDATES VISIT GSTSEVA.COM
MODEL GST LAW 2016 RELEASED
With the release of Goods and Services Tax (GST) 2016, India is very much closer to a New Indirect Tax Law which will change the whole system of tax collection and distribution.
GST LAW is available in public domain. The law will be known as GST ACT, 2016 once approved.
SOME FEATURES:-
CONTAINS 25 CHAPTERS
162 SECTIONS
4 SCHEDULES
WITH
GST VALUATION RULES 2016
With this release One more ACT :-
INTEGRATED GOODS AND SERVICE TAX ACT, 2016 ALSO RELEASED
CONTAINS 11 CHAPTERS
33 SECTIONS
for more updates stay tuned here or visit gstseva.com
You may also subscribe updates from WWW.GSTSEVA.COM
GST LAW is available in public domain. The law will be known as GST ACT, 2016 once approved.
SOME FEATURES:-
CONTAINS 25 CHAPTERS
162 SECTIONS
4 SCHEDULES
WITH
GST VALUATION RULES 2016
With this release One more ACT :-
INTEGRATED GOODS AND SERVICE TAX ACT, 2016 ALSO RELEASED
CONTAINS 11 CHAPTERS
33 SECTIONS
for more updates stay tuned here or visit gstseva.com
You may also subscribe updates from WWW.GSTSEVA.COM
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