June 10, 2017

Returns Process and Matching of Input Tax Credit

Q 1. What is the purpose of returns? Ans. a) Mode for transfer of information to tax administration; b) Compliance verification program of tax administration; c) […]
June 10, 2017

Concept of Input Service Distributor in GST

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 / […]
June 10, 2017

Input Tax Credit

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 […]
June 10, 2017

Job Work

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 […]
June 10, 2017

Electronic Commerce

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, […]
June 10, 2017

GST Payment of Tax

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 […]
June 10, 2017

Valuation in GST

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 […]
June 10, 2017

Time of Supply

Q 1. What is time of supply? Ans. The time of supply fixes the point when the liability to charge GST arises. It also indicates when […]
June 10, 2017

Meaning and Scope of Supply

Q 1. What is the taxable event under GST? Ans. The taxable event under GST shall be the supply of goods and / or services made […]

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