Ads
related to: place of supply case services under gst billtax.thomsonreuters.com has been visited by 10K+ users in the past month
- Indirect Tax Software
One Simple Software Solution
to Improve Accuracy of Tax Filings.
- Free Demo
Get a Free Demo of Our ONESOURCE®
Indirect Tax Compliance Software.
- Enjoy Coffee On Us
Schedule A Meeting To Receive A $25
Coffee Card From Thomson Reuters
- Software Overview
Keep Up With The Latest Changes
Real Time Tax Rates
- Indirect Tax Software
Search results
Results From The WOW.Com Content Network
In April, 2008, the EC submitted a report, titled "A Model and Road map for Goods and Services Tax (GST) in India" containing broad recommendations about the structure and design of GST. In response to the report, the Department of Revenue made some suggestions to be incorporated in the design and structure of proposed GST bill.
The Goods and Services Tax (GST) is a successor to VAT used in India on the supply of goods and service. Both VAT and GST have the same taxation slabs. Both VAT and GST have the same taxation slabs. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes.
Clarity required on unclear how current exemptions including area-based exemptions such as SEZs and Export Oriented Units (EOUs) will be treated with regard to levy of GST. Clarity required on the place of supply will have to be clearly defined to avoid disputes among states in the case of inter-state transactions.
The Indian Revenue Service (Customs & Central Excise) (IAST: Bhāratīya Rājasva Sevā), often abbreviated to IRS (Customs & Central Excise) or IRS (Customs & Indirect Taxes), now called IRS(C&IT) is a part of central civil service of the Government of India.
A Unit can sell goods and services including rejects or wastes or scraps or remnants or broken diamonds or by-products arising during the manufacturing process or in connection therewith, in the Domestic Tariff Area on payment of Customs duties or Excise Duties, as the case may be.
Under Indian GST Act, 2016, Any supplies (supply should be defined in accordance with GST India) made by a registered dealer as an export (both goods or services) or supply to an SEZ qualifies for Zero Rated Supplies in GST. This attracts zero rate of taxation and ITC (Input Tax Credit) can also be explained through the e-portal of GST Council.
A hundred years later, the tax which was devised to be efficient and relatively simple to collect and enforce is, together with the goods and services tax (GST), now in place in over 140 countries globally. [8] General government revenue, in % of GDP, from indirect taxes.
Service tax was a tax levied by the Government of India on services provided or agreed to be provided excluding services covered under the negative list and considering the Place of Provision of Service Rules 2012 and collected as per Point of Taxation Rules 2011 from the person liable to pay service tax.