GST on Services, 2017 by Mohd. Salim

GST on Services, 2017

Goods and Services tax (GST) which is a comprehensive tax on supply of goods or services or both, has been implemented from 1st July, 2017. Further from 8th July, 2017 the applicability of GST has been extended to the State of Jammu & Kashmir also. The implementation of GST besides being the biggest tax reform in the Indian history is also regarded as a business reform as businesses need to restratigise their functioning/transactions in order to keep their tax cost at minimum within the framework of GST Law. GST is all set to integrate State economies and boost overall growth. GST will create a single, unified Indian market to make the economy stronger and is based upon the principle of “One Nation, One Tax, One Market”.

Our Hon’ble Prime Minister Narendra Modi defined GST as Goods and Simple Tax at the midnight rollout of the India’s biggest tax reform. President Pranab Mukherjee said that the unified tax system was “the culmination of 14 year long journey”.

The implementation of GST in the initial days would pose certain challenges specifically in the area of supply of services. Accordingly in order to facilitate the seamless transition from the service tax law to GST regime by the service providers, the provisions of the GST law specifically relevant for supply of services alongwith its comparison with the erstwhile service tax law has been discussed in this Book.

I have tried to explain the provisions in an easy to understand language and wherever possible practical examples/illustrations have been incorporated. Further apart from the provisions of GST Acts and Rules, discussion on taxability of thirty specific services has been incorporated in the Book. The object of the Book is to provide a complete solution to the readers in regard to taxability of supply of services under GST Law and I believe that it would assist the readers in complying with the requirements of GST law.

I am grateful to my office team as well as the publishers, Taxmann Publications (P) Ltd. for encouraging me to write this Book and helping me in completing the book on timely basis. Further I am grateful to my mother Majida for showering her blessings and wife Frah Saeed and daughters Sana and Bushra for their support and putting up with my odd timings.

I look forward to the comments, suggestions and criticisms from the readers.

New Delhi                                                             CA. MOHAMMAD SALIM   12th July, 2017                                                         [email protected]