GST applicability on TDS portion in case of import of service

GST applicability on TDS

It is common that sums may be paid tax-free, where tax is borne by the payer himself. However, a question arises for the computation of Goods & Services Tax (GST).GST applicability on TDS  Whether consideration and consequently transaction value shall include tax borne by a payer or not is a question. GST Applicability on TDS Portion in Case of Import of Service   Issue under consideration Whether GST is payable on reverse charge basis on the TDS amount in case of payments made for import services where the invoice has…

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Who should generate the GST E-Way Bill and when?

GST Complete Information

In India, the central and the state government are authorized by the law to levy duties and taxes on the production and rendering of goods & services and on the intrastate sale of goods. The main problem here is to monitor the movement of goods within and outside the state. But with the evolution of technology, various states make many significant efforts to track the movement of goods within and outside of the state to reduce tax evasion and misuse of the system. what is GST E-Way Bill and who…

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Explain Composition scheme under GST

Composition scheme under GST

To lower the burden of compliance for small business so that they don’t have to maintain copious records, registers, and returns, many state governments have provisions for payment of a composition levy in their VAT system. However, such provision does not exist in the service tax laws. Composition scheme under GST explanation Composition scheme under GST Section 8 of the Model GST Law contains provisions for composition scheme which gives permission to the taxpayer to opt for payment of GST as a fixed percentage of turnover instead of paying regular…

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