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Background  

Under present State sales tax laws goods moving from place to place or State to State have to pass through several checkposts. The greater the number of checkposts to be crossed, the greater the delay, cost and unhappiness for the tax compliant dealer. This results in more documentation and increased cost of compliance.  

 The check posts are needed to check the non payment of tax. However when the fence itself eats the sheep ( thos in charge are...

GST bills have been passed by Loksabha as well as Rajyasabha. It is very likely that the law would get implemented from 1st July 2017 unless there is strong resistance from trade and others on account of time required for preparation. Mainly due to changes required in information technology systems. It is important for businessmen to understand the impact of GST on their business. Anti-profiteering clause is one important aspect which needs to be understood at this stage which could have...

This article is based on the GST Bill 2017 which was released in public domain in last week of March 2017.  

Background  

There seems to be a doubt in assesses who are registered under central excise and service tax, whether the unutilized credit in excise and service tax returns can be c/f into GST and used to pay the output tax liability under GST.  

The paper writer makes clear that under transition provisions of GST law, the accumulated cenvat credit...

This article is based on the GST Bill 2017 which was released in public domain in last week of March 2017.    

Background  

The promise by all the FMs on the various forums and business expectation was that seamless credit would be permitted under GST. The reality is that restrictions on credit availment have been continued under GST regime except for traders getting service tax and service provider getting VAT credit. On going through Central GST Bill 2017, it can be seen...