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By virtue of Section 51 of CGST Act 2017, government has introduced the concept of Tax Deducted at Source under GST, unlike it is there under Income Tax. TDS refers to the tax which is to be deducted when the recipient of goods/ services makes some payments under contract. Intention behind this seems to be,
Housing society are non profit oriented organization, which works for its members. Housing, under GST, it is important that said societies should evaluate GST Impact on its activity.GST is not just on organization who are doing profit motive business, but it is also applicable to on association of person, charitable organization. There is one argument
Table of Contents APPLICABLE PROVISIONS:OLD ITC UTILIZATION Vs NEW ITC UTILIZATIONMANNER OF ITC UTILIZATION AS PER NEW METHOD:MATRIX OF ITC UTILIZATION AS PER NEW METHOD:Example:STRATEGIES OF ITC UTILIZATION: Even though GST is single Tax System, but it has ingredients of 3 Taxes (
It is very usual and often that Supplier offers various kind of discounts to its Customer/dealer/retailer (referred as “dealer”), in order to incentives Sales, to offset for advertisement expense uncorrected, for reduction of sale price to ultimate customer etc.Some of discount are offers upfront in invoices whereas some are offered after Sale. In this article,
35th GST Council Meeting was held at New Delhi on 21 June 2019 , after more than three months of longer gap. It was the 1st GST Council meeting under 2nd term of Modi Govt. and also under the chairmanship of Hon’ble Finance Minister Smt. Nirmala Sitharaman. It was one of the meeting, for press