Tag: gst supply conditions

Why Supplier Evaluation is Critical for your Business under GST

In the erstwhile regime, the value of input credit availed by you did not depend on the remittance of tax liability by the supplier. As a result, the compliance of vendor was not an influencing factor in vendor evaluation. Largely, it was all about the…

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Get ready for GST with Tally.ERP 9 Release 6

16,330 total views, 116 views today

Impact of GST on Traders

On October 14th, 2016 the Confederation of All India Traders (CAIT) signed an MOU with Tally Solutions in order to train their member businesses – roughly 6 lakh traders all over the country, on the subject of GST. While the focus is largely to enable…

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Get ready for GST with Tally.ERP 9 Release 6

129,153 total views, 1,742 views today

How to Determine the Value of Supply when Consideration is not in Money

Valuation of goods and services is an important aspect which determines the amount of tax to be levied. If goods and services are undervalued, it leads to short-payment of tax, leading to non-compliance and resultant legal implications. Overvaluation will result in loss of revenue for…

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Get ready for GST with Tally.ERP 9 Release 6

57,534 total views, 344 views today

How to Determine the Place of Supply of ‘Specific’ Services

We have discussed about the general rules for determining the place of supply of services in our earlier blog. Let us now understand how to determine the place of supply in case of certain specific services. Are you GST ready yet? Get ready for GST…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

39,364 total views, 50 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…

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Get ready for GST with Tally.ERP 9 Release 6

36,683 total views, 62 views today

What is Time of Supply for Goods on Reverse Charge

In our previous blog post What is Time of Supply for Goods on Forward Charge we discussed time of supply for goods on Forward Charge. In this blog, we will discuss time of supply of goods on reverse charge. In order to ensure that the tax…

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Get ready for GST with Tally.ERP 9 Release 6

29,633 total views, 39 views today

What is Time of Supply for Services on Forward Charge

In our previous blog post What is Time of Supply for Goods on Forward Charge we discussed time of supply for goods. In this blog, we will discuss the Time of Supply on Forward Charge for Services. Are you GST ready yet? Get ready for GST…

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Get ready for GST with Tally.ERP 9 Release 6

25,942 total views, 42 views today

What is Time of Supply for Goods on Forward Charge

Point of Taxation (POT) refers to the point in time when tax is required to be paid. This is a mechanism which is used to determine the point in time when the tax liability will arise. Under the current indirect tax regime, the point of…

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Get ready for GST with Tally.ERP 9 Release 6

30,604 total views, 42 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…

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Get ready for GST with Tally.ERP 9 Release 6

38,272 total views, 99 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

48,298 total views, 122 views today