GstTak

  INTRODUCTION:- Co-operative Housing Societies are entities registered under the co-operative laws of the respective States. According to Section 2(16) of the Maharashtra Co-operative Society Act, 1960, “housing society” means a society, the object of which is to provide its members with open plots for housing, dwelling houses or flats OR if open plots, the dwelling houses or flats are already acquired, to provide its members common amenities and services. In other words these are a collective body of persons, who stay in a residential society as a collective body, they would be supplying certain services to its members, be it collecting statutory dues from its members and remitting to statutory authorities, maintenance of the building, security etc. HOUSING SOCIETY IS A DIFFERENT PERSON?:- The definition of "Person" in Section 2(84)(i) of the CGST Act, 2017 specifically includes a co-operative society registered under any law relating to co-operative societies. Thus a r

  INTRODUCTION:- It is very crucial to set a business from zero in India as there are many formalities in regards to formation & Taxations. Also for growing of business, Business man have to capture huge market capitalization as well as much customer and another factor which leads to progress of business. Therefore the concept of Merger and Amalgamation & Corporate restructure came in to the light. In the Corporate restructure, Merger, Amalgamation, the transferee will get ready possession of market capitalization and customers and other benefit associated with the business in return to lump-sum consideration. Hence it is most ideal tool to capture big advantages of existing business. In this article we will discuss the implication of tax in slump-sale as far as GST is concern. What is Slump-Sale?:- Slump-Sale is sale of an Undertaking as a going concern for a single consideration. However GST didn't provide the definition of Slump-Sale so we need to move towards Inco

  INTRODUCTION:- GST law provide two event i.e. Taxable event & Charging Event, Taxable event in GST is supply of goods or service or both whereas Charging event in GST is time of supply i.e. At what time GST liability is to be paid. GST will be payable on every supply of goods or services or both unless otherwise exempted. In other words GST is applicable only if transactions constitute the supply, if there is no supply no GST will charged. Before the discussion we need to know definitions related to this article. DEFINITION:- Goods:- As per the Section 2(52) “goods” means every kind of movable property other than money and securities but includes actionable claim, growing crops, grass and things attached to or forming part of the land which are agreed to be severed before supply or under a contract of supply. Motor vehicle:- As per Section 2(28) Motor vehicle Act, 1988, “motor vehicle” or “vehicle” means any mechanically propelled vehicle adapted for use upon roads whethe