Draft Invoice Rules under GST Law

As per GST Law every registered person shall have to issue invoice for supply of goods or services to the recipient. As per Rule (1) of the Draft Invoice Rules under GST Law invoice shall contain specified details. First lets have a look when invoice needs to be issued.

When to issue invoice?

A registered person supplied goods shall invoice before or at the time of

  1. Removal of goods where supply involves movement of goods
  2. delivery of goods or making available thereof to the recipient in other case.

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Transition Provisions in GST

In the model GST law government has given various provisions regarding migration of existing tax credit like CENVAT, VAT ITC, Service Tax Credit etc. Transition provision dealers to transfer credit as per CENVAT Credit rules, VAT ITC as per state rules to GST era. Let through some light on transition provisions in GST. Continue reading “Transition Provisions in GST”

GST rules for E-Commerce operators

We all now well aware with upcoming GST regime, at the outset we should get acquainted new GST rules. so in the today’s article lets understand GST rules for E-Commerce operators. Model GST provides GST rules for E-commerce operators. Continue reading “GST rules for E-Commerce operators”

5 subsidies to start industry in Gujarat

Our Honourabe prime minister Shri Narendra Modi has given vision for Make In India, Startup India to boost manufacturing indutries in India to stand at par with developed nations. Government of Gujarat(GoG) since last decade taken numerous initiatives to boost up the Manufacturing industries. GoG give several subsidies and Incentives for such industries.  Lets have a look at 5 subsidies to start industry in Gujarat.

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Point of Taxation in GST

So we are now with new informative article in GST which will help you to understand how and when GST will be payable by dealers. Today lets understand Point of Taxation in GST regime.

So far as our existing laws like VAT, CST, Central Excise, Service Tax are concern there are difference rules for point of taxation like in Central Excise point of taxation is at the time of manufacturing of goods and payable on removal of goods, in CST and VAT point of taxation generally is at supply of goods while in service tax it is governed by the Point of Taxation rules 2011. But now in GST there are common rules for goods and services. So lets now go deeper to understand better how point of taxation in GST will work. Continue reading “Point of Taxation in GST”