Moving to GST: Can I Avail Input Credit on Closing Stock?

Move arrangements in GST have experienced huge changes in the Revised Draft Model GST Law distributed on 26th November 2016. This post has been upgraded with changes in the modified draft law. On the date of transitioning to GST, extensively there will be business who fall under any of the accompanying classes: 1.Organizations not at risk to be enrolled under the present law, yet are at risk for enlistment under GST 2.Business which are occupied with the produce or offer of exempted products or administrations 3.To begin with stage merchant or a moment organize merchant or an enlisted shipper   Read More …

How is the Value of Goods and Services Determined under GST?

Current expense administration Give us a chance to take a gander at how the estimation of products and enterprises is figured in the present administration, with the assistance of an illustration: Super Cars Ltd, an auto producer, offers save parts to Ravindra Automobiles, their merchants for Rs 6,000. The MRP of the extra parts is Rs 10,000. In the GST administration, the estimation of merchandise and/or administrations provided is the exchange esteem, i.e. the cost paid/payable, which is Rs 6,000 in the case. Extra Charges and Expenses – in the GST Regime How are extra charges and costs, for example, Read More …