GST Transition of ITC on goods taxable at first stage under VAT

2 comments Sunday, April 23, 2017
The most important and the very first step towards GST is the transition provisions under GST law. The transition provisions with regard to input tax credit are very important. In this article I concentrate on how the credit of taxes paid on the goods taxable at first stage especially under Punjab VAT Act, 2005, would be available under the GST regime.
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Taxable event under GST-supply and its scope

1 comments Thursday, January 19, 2017
Taxable event: Taxable event is very important matter in every tax law. Its determination is most crucial for the proper implementation of any tax law. Taxable event is that on the happening of which the charge is fixed. It is that event which on its occurrence creates or attracts the liability to tax.
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