Snehal khanna Blog

Experts help clear doubts around the impact of the new indirect tax regime on businesses LATEST NEWS : I am a service provider having offices in multiple states. Under the service tax regime, I had a centralised billing system. Under the GST regime , should I change my billing system and start raising invoices from the local branch? Jivi Jebaraj, Chennai In the GST regime, service providers are required to obtain registration in each state where they have a place of business. The concept of centralised registration is now redundant. If the services are entirely supplied from the branch, or the branch plays a significant role in supplying the services, then such a branch shall be required to raise invoices and charge applicable GST. It is critical to identify the “establishment” rendering the service and the “establishment” receiving the service to complete the input tax credit chain. How do I ensure that I pass on the benefit to consumers in accordance with the ant...

Govt has given 3 months time to reprint revised MRPs under the Packaged Commodities: Paswan tweeted Latest news : The government on Tuesday warned that legal action will be initiated against manufacturers for not printing the revised MRP post rollout of the GST. Food and Consumer Affairs Minister Ram Vilas Paswan said the government has given three months time till September to reprint the revised maximum retail price (MRP) with the implementation of the landmark Goods and Services Tax (GST) . In a series of tweets, Paswan said that prices of some commodities have fallen, while some have increased with the implementation of GST. "Fall in prices due to lower GST should be passed on to consumers. ...The government will take legal action against vendors not declaring revised MRP after GST," he said. The revised rates should be displayed on commodities so that consumers are aware what is the MRP of each item after GST, he added. "The government has given...