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What is a Provisional Patent and its Advantages. A provisional patent application is a preparatory stride, before documenting of a regular patent, for getting a sort of between interim protection.

What is a Provisional Patent and its Advantages

One can file an application for a provisional patent registration in India with no formal patent cases. The alternative is made to furnish investors with an economical approach to briefly secure their innovations until they choose to seek after a full patent. What is TDS (tax deducted at source) and how it is estimated? What is difference between trademarks and other intellectual property?

What are the Documents Required for Home Loan? Ways to get mortgage loan approved. 20 quick FAQ’S on credit score in India. 5 tips to create strongest patent possible. Assessment of non-filers and unregistered person under GST. Eligibility, utilisation, reversal, etc of Input tax credit. Different types of supply under GST regime. The taxable event under GST shall be the supply of goods and/or services made for consideration in the course or furtherance of business.

Different types of supply under GST regime

However, supply can be divided into many types. The types of supply as contained in GST model law has been given below: Types of supply Deemed Supply Schedule I of the Model GST Law lists specific transactions made with no consideration as deemed supply in relation to GST. Whos is exempt from registration under GST? Dispute resolution mechanism under GST. For smooth implementation of GST in our country it is important to have an inbuilt parallel dispute resolution mechanism assuming various issues in GST regime.

Dispute resolution mechanism under GST

Now in international arena two approaches are followed in case of any dispute; There must be dispute resolution mechanism Rather having a dispute resolution mechanism there should be a dispute prevention system. So dispute prevention is necessary to save time, money, hassle and closure of trade. Dispute settlement. Determination place of supply of goods. To easily determine the place of supply of goods and services, rules are made in the law.

Determination place of supply of goods

A taxable person has to follow the rule to determine the place of supply of goods/services. I. Place of supply of goods where goods are removed. What is destination based consumption tax? Indirect taxes can be either origin based or destination based.

What is destination based consumption tax?

Origin based tax (also known as production tax) is levied where goods or services are produced. Destination based consumption tax are levied where goods and services are consumed. What is debit/credit note and it's treatment under GST? A debit/credit note serves the purpose of accounting adjustment to settle the correct amount of value and tax as the case may arise from time to time.

What is debit/credit note and it's treatment under GST?

Credit Note under GST As per section 2(35) read with section 24(1) of model GST law, where a tax invoice has been issued for supply of any goods and/or services and the taxable value and/or tax charged in that a tax invoice is found to exceed the taxable value and/or tax payable in respect of such supply, the taxable person, who has supplied such goods and/or services, may issue to the recipient a credit note containing prescribed particulars.

Tax refund provisions under GST mode law. Refund is discussed in section 38 of the MGL.

Tax refund provisions under GST mode law

“Refund” includes refund of tax on goods and/or services exported out of India or on inputs or input services used in the goods and/or services which are exported outside India, or refund of tax on the supply of goods regarded as deemed exports, or refund of unutilized input tax credit as provided under section 38(2). Some of the important tax refund provisions of the Model GST Law are as under: All about GST annual Return(GSTR-9) All about GST annual return!

All about GST annual Return(GSTR-9)

All the Normal taxpayers would be required to submit Annual Return. This return to being filed annually is intended to provide a 360-degree view of the activities of the taxpayer. This return would provide a reconciliation of the returns with the audited financial statements of the taxpayer. Return filing for non-resident foreign taxpayers. Non-Resident foreign taxpayers are those suppliers who have come for a short period to make supplies in India without having any business establishments here.

Return filing for non-resident foreign taxpayers

Products are normally imported to make local supplies. Therefore, they will be allowed to avail ITC only on IGST paid on imports. However, other taxpayers can take credit for supplies made by them. Such taxpayers would be required to file the return in form GSTR-5 for the period for which they have obtained registration within a period of 7 days after the date of expiry of registration. What is the treatment of Job Work under GST? Job work means undertaking any treatment or process by a person of goods belonging to another registered taxable person and the expression “job worker” shall be construed accordingly.

What is the treatment of Job Work under GST?

Thus job work means any person who undertakes any activity or carried on any process on goods belonging to another person. Such other person necessarily is a registered taxable person. If the person is unregistered one then the job work relation could not be established under GST law. What is the concept of supply under GST.

The basis of a charge of GST is the supply. So the concept of supply needs to be clear in order to determine the applicability of GST. In general, supply for GST purposes covers all forms of supply where goods and/or services are supplied in return for a consideration. Any transaction involving the supply of goods and/or services without consideration is not a supply unless it is deemed to be a supply under law. Drawing upon the international experience, the following criteria have been identified to distinguish a transaction as supply on which GST is levied;

What are the kinds of assessment under GST. Assessment of taxes to be paid is required to be done to establish the tax liability of an assessee. There are certain kinds of assessment in GST. Self Assessment under GST Section 44 of the Act provides for self-assessment of tax liability by the taxpayer. Reverse charge mechanism under GST. It is a well-known phenomenon that the supplier collects indirect tax from purchaser and deposits the same with government.

In this way, the incidence of the tax is placed on consumers but the responsibility to pay the deposit the tax remains with supplier only. However, in certain cases, the law may provide that the tax has to be deposited by the person making payment of goods/ services i.e. the recipient of goods/services. Dispute resolution mechanism under GST. How to use input tax credit under GST? Input tax credit is one of the essential elements of Value added tax system which is used as a tool to avoid cascading effect of tax. A supplier is allowed to set off the tax he has paid on the purchase of goods from output tax on the sale of such goods. This is results in a levy of tax only on the value added by the intermediate supplier and hence avoiding double taxation. Under GST regime, the tax has been divided into three main parts namely ‘Integrated Goods and Services Tax’(IGST), ‘Central Goods and Services Tax’(CGST) and ‘State Goods and Services Tax’(SGST).

This bifurcation of taxes might lead to confusion as to how the input and output taxes are to be adjusted. “Input tax” in relation to a taxable person, means the {IGST and CGST}/{IGST and SGST} charged on any supply of goods and/or services to him which are used or are intended to be used, in the course or furtherance of his business. What is the appeal filing mechanism under GST? A strong appeal filing mechanism is must in case any person is aggrieved by any decision or order passed against him. Any person aggrieved by any decision or order passed against him under this Act by an adjudicating authority may appeal to the prescribed First Appellate Authority.

Departmental appeal – The Commissioner of GST may, of his own motion, call for and examine the record of any proceeding in which an adjudicating authority has passed any decision or order under this Act, direct any GST Officer subordinate to him to apply to the First Appellate Authority for determining such points arising out of the said decision or order as may be specified by the Commissioner of GST in his order. What is the procedure and criteria for TDS under GST?

Different types of supply under GST regime. Varoius offences listed under GST. What is the impact of GST on Indian Economy? GST Payment Process. Constitutional amendments for GST implication. Creation of Challan while making payment under GST. Import and Export under the Proposed GST - LegalRaasta. Composition scheme under GST and it's eligibility, benefits.

Steps for GST return. Time of supply of advance receipts under GST. Return filing through tax return preparers. Search under GST, authorization, safeguards offered etc. Composition scheme under GST and it's eligibility, benefits. What is the concept of supply under GST. GST Electronic ledger : Cash ledger, ITC ledger & Tax liability ledger. Time of supply in case of change in effective tax rate. What is Patent License and what are its functions? Here’s all you need to know about filing extended last date to file ITR. Filing Income Tax Return to become simple from April 1. How mortgage helps to better your CIBIL Score. Know all about refinance home loan. Know all about Loan Against Property. 10 things you need to know about tax saving fixed deposits. 10 things individual tax payers should know Tax saving fixed deposits.

Budget 2017 does little to expand taxpayer salaried still bear brunt of taxes. How to file a paper income tax return? All about bad credit loans. Looking for personal loan in delhi? Take care of these things when taking small business loans. When to refinance - LoanRaahi. What is Balance transfer and Top-up of loan? LegalRaasta - Legalraasta. Loanraahi. LegalRaasta's soup. Home - Loanraahi's website. Home - Legalraasta's website.

Home. Classification of Goods and Services under Trademark Registration. All you need to know about Trademark Search. All about return filing under GST regime. Steps to register your Trademark in Kolkata. Steps to register your Trademark in Delhi. Steps to register your Trademark in Chennai. Which return should I file ITR-1, ITR-2, ITR-3 or ITR-4? 7 Things You Need to Know Before Filing Your Income Tax Return. Which ITR shall I file for rental Income? How can we assess income of Non Returning Indian? What is Best Judgement Assessment ? How do I pay GST tax online? Basic terms under Good and Service Tax. Advantages and Disadvantages of Letter of Credit. How to overcome negative thoughts in Export Business? How can Foreigners file Return on Income earned in India? File income tax return online. Why intellectual property is so critical for startups?

Get a patent software, but be prepared for a frustrating process. What is digital deposit act, and digital sources for obtaining copyright? How can NRI’S file income tax return in India? How to File your ITR through LegalRaasta? 10 things you shouldn't miss out before taking a home loan. Why is it difficult to get a small business loan after bankruptcy? Why taking a personal loan to pay off other debts is not a bad idea either? Step wise filing ITR and all the links which you need to know. 5 things you need to know to make use of the ITR deadline extension. How to calculate capital gain tax and what are it's exemptions ?

Who is eligible to file the ITR-1 Form? Understanding income tax implications for Professionals & Freelancers. What is the impact of GST in manufacturing sector? How to file multiple-class trademark application? What is trademark and how to do registration of your trademark in India? What is Trademark statement of use & Requirements for filing it? Have a brilliant idea, How to keep it safe with trademark, patent & copyright. GST as a destination based tax as against the concept of origin based tax.