Saturday, 1 October 2016

Frequently Asked Questions (FAQ) on GST by CBEC

Below is the text of Detailed FAQs on GST are released by CBEC, covering more than 500 questions in 24 topics. A must read on GST.



Foreword

With the 101st Constitution Amendment Act coming into force on 8th September, 2016 and notification of the GST Council on 15th September – the road to GST rollout is clear. Government is keen on introducing GST-the biggest indirect tax reform, with effect from 01 April
2017. One of the biggest challenges is to train the indirect tax officials of both Centre and State, as well as the trade on the concepts, processes and procedures of GST.

Key Takeaways from 27th GST Council Meeting

GST Council today in its 27 th meeting approved principles for filing of new return design based on the recommendations of the Group...