The most dangerous section of GST is S 94

By : CS K. K. Agrawal




Section 9(4)



The central tax in respect of the supply of taxable goods or services or both by a supplier, who is not registered, to a registered person shall be paid by such person on reverse charge basis as the recipient and all the provisions of this Act shall apply to such recipient as if he is the person liable for paying the tax in relation to the supply of such goods or services or both.

VAT is GST full lecture

By : CS K. K. Agrawal
Watch VAT is GST

National GST : Centre collects tax and appropriate to the State Govt.

Prevalent in small countries like Singapore and most of other countries

Dual GST : State collects their own tax. Centre collects their own tax. Both State and Centre shall levy tax on both goods or services or both.

Prevalent in India, Brazil and Canada

Levy in GST : Supply of goods or services or both

Excise + VAT = CGST + SGST = IGST


Cost inflation index for FY 2017-18 with base year 2001-02

By : CS K. K. Agrawal
Markets of property, shares and jewellery are speculative in nature. People buy these assets either for security (Investment) or for speculation. The transactions in these assets are also subjected to capital gain tax. Capital gain can be either long term or short term depending upon the period of holding. Long term is subjected to less tax than short term. Rate of tax on long term ranges from 0% to maximum 20%. The other benefit of long term asset that they can be indexed. Govt. has come out with index table called Cost Inflation Index whose base year was fixed as 1-4-1981. In Finance Bill 2017 the Govt. has taken a very bold step and has shifted the base year from 1981 to 2001 for the benefit of investors. Also period of holding of land and / or building has been reduced from 36 months to 24 months. Kudos to our Finance Minister Mr. Arun Jaitely. Wonderful job sir.


1 2001-02 100
2 2002-03 105
3 2003-04 109
4 2004-05 113
5 2005-06 117
6 2006-07 122
7 2007-08 129
8 2008-09 137
9 2009-10 148
10 2010-11 167
11 2011-12 184
12 2012-13 200
13 2013-14 220
14 2014-15 240
15 2015-16 254
16 2016-17 264

17 2017-18 272



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