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Moving to GST: Composition Dealer Switching to Regular Dealer

All registered taxable persons under the existing indirect tax regime will be automatically transitioned to GST and will be given a provisional registration ID. After validation of the details submitted during enrolment, final registration IDs will be issued. Similarly, those traders, who have opted for…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

164,322 total views, 566 views today

What is Time of Supply for Services on Reverse Charge

In our previous blog, we discussed Time of Supply for Services under the Forward Charge Mechanism. Under the reverse charge mechanism, the recipient or buyer of services has to pay tax to the credit of the government unlike forward charge, where the supplier has to pay…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

103,091 total views, 539 views today

How to Determine Place of Supply for Services Provided at Immovable Properties

An immovable property is an immovable object, an item of property that cannot be moved without destroying or altering it. The property is fixed to the earth, for example, a piece of land or a house. In the current tax regime, taxable services provided in…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

108,427 total views, 549 views today

Tax Impact on Goods Sold Prior to GST, but Returned after GST

In a business, return of goods sold is common. Under current regime, the return of goods are allowed to be reduced from the total turnover of sales, provided that the goods are returned within specified time limit. The eligibility to avail reduction from tax varies…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

122,028 total views, 543 views today

How to Determine the Place of Supply of Services

In the current tax regime, the provision of a taxable service is subject to service tax.  Service tax is levied by the Central government and is applicable irrespective of whether the provision of service is interstate or intrastate. However, under GST, the place of supply…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

127,223 total views, 596 views today

How to Determine the Place of Supply When there is No Movement of Goods

1. When supply does not involve movement of goods, the location of the goods at the time of delivery to the recipient is the place of supply. For example: Rex Cars, whose registered place of business is Chennai, Tamil Nadu, opens a showroom in Mysore,…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

130,134 total views, 483 views today