Monthly Archives: March 2017

Gist of changes in the GST bills introduced in Lok Sabha on March 27, 2017

Posted on March 28, 2017 by Sabeena Vasudeva

GST Law is not applicable to the State of Jammu & Kashmir. Any supply of goods or services by employer to his employees without any consideration would not fall under GST ambit upto a limit of Rs. 50000/- Sale of … Continue reading →

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Gearing up for Transition to GST

Posted on March 28, 2017 by Sabeena Vasudeva

After being stuck in the corridors of power and countering around sixteen years of uncertainty, GST is finally going to see the light of the day. GST, which is being pitched as the biggest tax reform since independence, will bring … Continue reading →

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Law of Limitation – Kept Intact

Posted on March 27, 2017 by Parveen Kumar

Section 197(C) of the Finance Act 2016 provided for assessment of undisclosed income relating to any period prior to Income Disclosure Scheme, 2016 (IDS) is proposed to repealed in the Budget 2017 presented by Hon’ble Finance Minister Mr. Arun Jaitley on … Continue reading →

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Key Highlights of the Revised Model GST Law

Posted on March 26, 2017 by admin

The Draft Model GST Law was released in the public domain on 14.06.2016. However, the draft law contained many anomalies / inconsistencies which needed to be addressed. After receiving recommendations / representations from various stakeholders, the government released the revised … Continue reading →

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Key Highlights Of The Model GST Law

Posted on March 25, 2017 by Sabeena Vasudeva

As the Empowered Committee of Finance Ministers granted in-principle nod to the draft of Model GST Law, it was placed in the public domain on 14 th June, 2016, with the government seeking feedback and comments from trade and industry. … Continue reading →

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