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GST FAQs

FAQs on GST – Registration in GST

March 21, 2017 // 0 Comments

Q 1. What is advantage of taking registration in GST? Ans. Registration under Goods and Service Tax (GST) regime will confer following advantages to the business: • [...]

FAQs on GST – Valuation in GST

March 20, 2017 // 0 Comments

Q 1. What is the value of taxable supply to be adopted for the levy of GST? Ans. The value of taxable supply of goods and services shall ordinarily be ‘the transaction [...]

FAQs on GST – Payment of Tax

March 20, 2017 // 0 Comments

Q 1. What are the Payments to be made in GST regime? Ans. In the GST regime, for any intra-state supply, taxes to be paid are the Central GST (CGST, going into the [...]

FAQs on GST – Electronic Commerce

March 20, 2017 // 0 Comments

Q 1. What is e-commerce? Ans. Section 43B(d) of the MGL defines an Electronic Commerce to mean the supply or receipt of goods and/ or services, or  transmitting of funds [...]

FAQs on GST – Job Work

March 20, 2017 // 0 Comments

Q 1. What is job-work? Ans. Section 2(62) of the MGL provides that “job-work” means undertaking any treatment or process by a person on goods belonging to another [...]

FAQs on GST – Concept of Input Service

March 20, 2017 // 0 Comments

Q 1. What is Input Service Distributor (ISD)? Ans. As per Section 2(56) of MGL, ISD means an office of the supplier of goods and / or services which receives tax invoices [...]

FAQs on GST – Input Tax Credit

March 20, 2017 // 0 Comments

Q 1. What is input tax? Ans. “Input tax” has been defined in section 2 (57) of the MGL and section 2 (1) (d) of the IGST Act. Input tax in relation to a taxable person, [...]
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