whether VAT will applicable or Service tax or some time it was very difficult

Whether vat will applicable or service tax or some

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whether VAT will applicable or Service tax or some time it was very difficult to identify what is value of amount which attracts VAT liability and on what amount Service Tax has to be levied. So, under GST all these complications has been removed which help Delhi International Airport Limited to save from cascading effect and there is only single tax rate @18% which is levy on the value of total amount Form Tran-1 :- Every registered person under GST who wishes to claim ITC for closing stock must file within 90 days of 1 st July. 57
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The form requires exhaustive details of the following- - Registration under Pre-GST Regime (Central Excise, VATAct, Service Tax) - Tax Period to which last return filed under pre-GST pertains. - date of filling of the above - GSTIN of the supplier of goods - HSN codes of underlying goods The main purpose behind Form Tran-1 is that the input tax credit can be taken forward if there is any previous tax credit under pre-GST regime.We can say that benefit to DIAL is that the credit can be taken to forward and can be utilized in future. Overall we can say that the impact of Goods and Services Tax on Delhi International Airport Limited is Negative impact , as we know that under previous tax regime i.e. under Service Tax the service tax is to be paid @ 15%( including cess) but under new tax regime i.e . Goods and Services Tax the tax is to be paid @ 18% . So, it clearly shows Negative impact. FINDINGS 1. DIAL will come under the single registration policy. 58
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2. From the implementation point of view of GST, there will be lot of difficulties for the finance department as other departments are not aware of new tax law. Hence, to make things work in synchronization will be a challenging task for finance department. 3. Systematic work procedures follow very strictly. 4. Strict Corporate ethics are maintained. 5. Cost of Services in some cases will increase like in case of Rent a cab but in some cases it will decrease like earlier when the stationery purchased by DIAL for its use then in that case input tax credit was not allowed as the organization is not involved in Purchasing and Selling activity of that thing but after GST when DIAL purchased stationery for its use then DIAL is eligible for input tax credit. 6. Aeronautical and Non-Aeronautical charges attract GST in case of Output following ways:- - For activities in relation to immovable property such as landing, parking charges Etc. Place of Supply should be the Airport. Therefore, irrespective of customers, CGST and SGST should apply. - For grant of rights to operate at the airport, place of supply should be the airport - For other activities (such as marketing fund, management fee), the place of supply should be the location of customer. Hence, depending upon customer, services may attract IGST or CGST and SGST or qualify as export - For cargo screening and cargo concession fee, the place of supply should be the location of customer. However, if customer is outside India, the place of supply should be the place of performance. Hence, CGST and SGST or IGST should apply
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  • Fall '17
  • Mahvish ali

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