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

India’s decade long wait for a national tax on supply of goods and services that will create one of the world’s biggest single market could be almost over by July 1.

GST implementation is likely to be the biggest change in Indian tax history, and hence it becomes vital for every business to gear itself for smooth transition from the existing regime to GST regime.

One of the perennial issues in taxation of goods is the determination of the nature of transaction as inter-State sale subject to Central Sales Tax or local sale subject to VAT.

The revised Model GST Law proposes to bring price control mechanism to ensure that input tax credits availed by a registered taxable person or the reduction in the price on account of any reduction in the tax rate under GST, have actually resulted in commensurate reduction in the price of the goods or services.

It is said that in GST, the cascading effect of taxes would be removed with a continuous chain of set-off from the original producer’s or service provider’s point upto the retailer’s level.