Vouchers are instruments which are redeemable on its face value against supply of goods or services. Though legislature has sought to tax vouchers under the GST regime, there are unresolved problems which may lead to controversy in the near future.
Section 54(3) of the Central Goods and Services Tax Act, 2017 (‘the CGST Act’), provides for refund of any unutilised input tax credit (ITC) in two scenarios.
GST law whether clearly indicates the person who is obliged to pay tax in a transaction involving services provided by a shipping line located outside India to an exporter located outside India for the purpose of transporting goods to an importer located in India?
Other than filing of GST Returns, issue relating to appropriate classification of goods and services and their tax rates is one of the many burning issues which require immediate action.
The Legislature has retained the concept of ‘bundled services’ under the erstwhile Service Tax regime as ‘composite supply’ and has further broadened its scope to include supply of goods as well under the new GST regime.
According to the GST laws, any assessee can seek clarification on specific matters or questions relating to the supply of goods or services or both from the AAR.
India is on the verge of ushering in a tax revolution with GST marking its entry in the Indian economic and political horizon.
The concept of way bill and the requirement for every consignment to be accompanied by a way bill has been retained under the GST regime, albeit electronically.
Article GST liability on transfer/disposal of assets in lieu of tax liability: European Union’s Court of Justice has recently held that transfer of tangible property to the State Treasury in settlement of arrears of taxes is a transa