GST stand for the Goods and Service Tax. It was introduced in India on July 01, 2017, which subsumed most Indian indirect taxes. Today, GST's contribution towards Indian GDP is way ahead of Direct taxes.
Read MoreGAFA is an acronym used to denote the firms which are being taxed under this tax levy. GAFA stands for Google, Apple, Facebook and Amazon.
Read MorePlace of Supply holds an important place under GST regime. Nature of supply needs to be determined to know the place of Supply. Nature of supply can be classified as inter-state supply or intra-state supply.
Read MoreAccumulation of Input Tax Credit occurs when the tax paid on inputs exceeds the output tax liability. In such a case, the excess amount has to be carried forward to the next financial year, so it could be used to pay the output tax liability by the registered individual. The GST Law also permits refund ofunutilised ITC in certain cases.
Read MorePoint of taxation or the time of supply is the time when goods have been supplied and services have been provided or are deemed to be supplied and provided.
Read MoreDisclaimer
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American Institute of Certified Public Accountants 
Association of Chartered Certified Accountants 
Chartered Institute of Management Accountants 
Federal Reserve Board of USA 
Indian GST FAQs 
Indian Income Tax 
Information System Audit and Control Association 
Institute of Chartered Accountants of England and Wales