Job-Work

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...
Levy-of-and-Exemption-from-Tax

Levy of and Exemption from Tax

Q 1. Where is the power to levy GST derived from? Ans. Article 246A of the Constitution, which was introduced by the Constitution (101st Amendment)...
Meaning-and-Scope-of-Supply

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...
Offences-and-Penalties,-Prosecution-and-Compounding

Offences and Penalties, Prosecution and Compounding

Q 1. What are the prescribed offences under MGL? Ans. The Model GST Law codifies the offences and penalties in Chapter XVI. The Act lists...
Overview-of-Goods-and-Services-Tax-(GST)

Overview of Goods and Services Tax (GST)

Q 1. What is Goods and Service Tax (GST)? Ans. It is a destination based tax on consumption of goods and services. It is proposed...
Overview-of-the-IGST-Act

Overview of the IGST Act

Q 1. What is IGST? Ans. “Integrated Goods and Services Tax” (IGST) means tax levied under the IGST Act on the supply of any goods...
Place-of-Supply-of-Goods-and-Service

Place of Supply of Goods and Service

Q 1. What is the need for the Place of Supply of Goods and Services under GST? Ans. The basic principle of GST is that...
Refunds

Refunds

Q 1. What is refund? Ans. Refund has been discussed in section 38 of the MGL. “Refund” includes refund of tax on goods and/or services...
Registration

Registration

Q 1. What is advantage of taking registration in GST? Ans. Registration under Goods and Service Tax (GST) regime will confer following advantages to the...
Returns-Process-and-matching-of-Input-Tax-Credit

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) Finalization of...

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