We have previously discussed situations and examples where one can avail of Input Tax Credit (ITC). However, did you know there are situations where ITC cannot be availed of? In this post, we aim to educate you on the scenarios and situations where a businessman or dealer cannot avail of Input Tax Credit: Registration – …
Ease of doing business has helped businessmen and dealers to spread out their network. The GST has aimed to bring together the entire country into a single unified marketplace where buying and selling can take place, irrespective of the state of manufacture or supply. Such a distributed system of supply of goods and services paves…
An Input Service Distributor (ISD) is an office of the supplier that allocates goods to various branches of the supplier. This article highlights the manner and method in which Input Tax Credit (ITC) distribution is done and the various conditions applicable for such distribution. Following are the conditions on the basis of which ITC distribution…
The Goods and Services Tax, popularly known as the GST is a single unified tax system whose primary focus is to consolidate the several tax systems that have plagued India’s current tax regime. You may have heard of One Nation – One tax – this concept has become popular in an attempt to do away…
This article provides a focus on the key provisions and highlights of the highly anticipated GST Model Law, the draft of which was available to the public on November 26, 2016. We have simplified the understanding of the same by dividing it into three essential categories of highlighting the changes proposed, segregating additions to the…
Since independence, GST is one of the biggest tax reforms to hit India – in a very positive way. The Goods and Services Tax Bill, popularly known as GST was unanimously passed on August 3, 2016, by way of the Constitutional Bill in the Rajya Sabha, to come into force with effect from April 1,…
Whether facing a midyear gloom or the winter doldrums everyone needs a morale boosting to stay motivated and remain engaged. An annual office picnic gives employees a temporary relief from their daily work and they feel refreshed to join their work with renewed vigour.
Company picnics are great morale boosters. They strengthen teamwork and encourage interdepartmental integration. The 13th of January 2016, started with a beautiful, foggy cold morning with sun playing hide and seek. This day we all in EXACTLLY group of companies set out to Bakrahat for our fantabulous annual Picnic.