But in GST regime provide of solutions are subject to Central Tax as effectively as State Tax in the like manner as applicable in case of provide of goods. The person prepared to start their enterprise at smaller scale opt for the most versatile kind of business in India getting Sole Proprietorship Firm. Firms that have opted for Composition Scheme cannot claim any input tax credit. 47 - Service tax reversal provision is back in the revised Model GST Law, if the supplier of goods and services is not paid inside three months, the input tax credit availed has to be added to the output tax liability.

... […]