Updates

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What do you mean by “supply made in the course or furtherance of business”?

What do you mean by “supply made in the  course or furtherance of business”?

Topic Name – What do you mean by “supply made in the course or furtherance of business”?   “Business” is defined under Section 2(17) include any trade, commerce, manufacture, profession, vocation etc. whether or not undertaken for a pecuniary benefit. Business also includes any activity or transaction which is incidental or ancillary to the aforementioned […]

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Are self-supplies taxable under GST?

Are self-supplies taxable under GST?

Topic Name – Are self-supplies taxable under GST?   Inter-state self-supplies such as stock transfers, branch transfers or consignment sales shall be taxable under IGST even though such transactions may not involve payment of consideration. Every supplier is liable to register under the GST law in the State or Union territory from where he makes […]

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Can a transaction in which any one or more of the above criteria is not fulfilled, be still considered as supply under GST?

Can a transaction in which any one or more of  the above criteria is not fulfilled, be still considered  as supply under GST?

Topic Name – Can a transaction in which any one or more of the above criteria is not fulfilled, be still considered as supply under GST?   Under certain circumstances such as import of services for a consideration whether or not in the course or furtherance of business (Section 3(1) (b)) or supplies made without […]

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What is a taxable supply?

What is a taxable supply?

Topic Name – What is a taxable supply?   A ‘taxable supply’ means a supply of goods or services or both which is chargeable to goods and services tax under the GST Act.                   About Bihar Tax Consultant – Bihar Tax Consultant is among the best and […]

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What is the taxable event under GST?

What is the taxable event under  GST?

Topic Name – What is the taxable event under GST?   The taxable event under GST shall be the supply of goods or services or both made for consideration in the course or furtherance of business. The taxable events under the existing indirect tax laws such as manufacture, sale, or provision of services shall stand […]

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Does cancellation of registration impose any tax obligations on the person whose registration is so cancelled?

Does cancellation of registration impose any  tax obligations on the person whose registration is  so cancelled?

Topic Name – Does cancellation of registration impose any tax obligations on the person whose registration is so cancelled?   Yes, as per Section 29(5) of the CGST/SGST Act, every registered taxable person whose registration is cancelled shall pay an amount, by way of debit in the electronic cash ledger, equivalent to the credit of […]

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