The manufacturing industry in India has been facing a mammoth task of serving almost 14 million retail points and the end customer – in both the rural and the urban markets. The fast-moving consumer goods sector and durable goods...
This article is the first part of the GST Impact on Manufacturers. As a manufacturing hub, India has received a huge boost pursuant to the Make in India campaign as its position on the world map has gone higher...
The point of taxation mechanism is used to ascertain the exact point in time when a tax liability arises on a good or service, and the point therefore when the tax liability is required to be paid, either by...
Previously, we have discussed time of supply for goods regards the forward charge mechanism; here we place focus on the reverse charge mechanism to determine the time of supply of goods. Firstly, it is imperative to understand that service...
Service tax is currently applicable under the current indirect tax regime upon the provision of taxable services. The point of taxation helps in ascertaining when the service tax is actually payable to the central government by the recipient or...
Under the reverse charge mechanism, the time of supply for services is determined by payment of tax credit of the government from the recipient of the services or the buyer of the services – this is different from forward...
Electronic commerce, also known as e-commerce, has transformed business in India altogether. The e-commerce industry in India is impacted by several taxes as each state has its own rules pertaining to taxation on goods and services supplied through e-commerce....
Currently, taxes are imposed on taxable services such as manufacture, provision of services, sale of goods, etc. Under the GST regime, all of this will be replaced by the concept of supply. In other words, the understanding place of...