Goods and Services Tax - Page 3

Top 150 asked questions on GST- Twitter

Tweets received by askGST_GOI handleh have been scrutinized and developed into a short FAQs of 100 tweets. GST tweeter account- GST@GOI has issued set of top 100 asked questions on GST along with answers. Those asked questions/tweets along with replies are as below...

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Number of Registration of GSTN crosses 77.5 lakhs

Till 18th July 2017, the total number of GSTIN registrations is 77,55,416. No major problems have been reported post Goods and Services Tax (GST) from the field offices across the country Internet is not required for doing / conducting business. It would be required only for the purpose of filing of returns under GST. The […]...

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Government has constituted a Committee to monitor impact of GST

Government has constituted a Central Monitoring Committee headed by the Cabinet Secretary to monitor the impact of GST.Three meetings of the Central Monitoring Committee have been held on 2nd July, 11th July and 18th July. The reports include the details of feedback received from various Ministries and Departments regarding the following ...

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GST Composition application due date extended to 16th August 2017

Order No. 01/2017-GST (21/07/2017)

CBEC hereby extends the period for filing an intimation in FORM GST CMP-01 under sub-rule (1) of rule (3) of the Central Goods and Services Tax Rules, 2017 upto 16th August, 2017....

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How to Export under GST

With the implementation of GST, trade and exporters are eager to know how will our exports be treated under the Goods and Services Tax (GST) regime? In this article an attempt is made to guide step by step procedures for export under GST....

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Analysis of sec 9(4) CGST Act: Supply by Unregistered person to registered person

Subject to the provisions of sub-section (2), there shall be levied a tax called the central goods and services tax on all intra-State supplies of goods or services or both, except on the supply of alcoholic liquor for human consumption, on the value determined under section 15 and at such rates...

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Place of Supply of Goods with Illustration under GST

Article discusses 1. Place of supply of goods other than supply of goods imported into, or exported from India under Section 10 of IGST Act and Place of Supply of Goods Imported into or Exported from India under Section 11 of IGST Act....

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Benefits of availing inward supplies form an Un-registered Person under GST

Applicability of Reverse Charge Mechanism is undoubtedly the most discussed topic under GST nowadays. More than 60 percent queries on GST are related to this Reverse Charge Mechanism. Registered Persons are asking their clients for their GSTIN numbers....

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50 FAQs on GST Registration, Transition and other issues

If I buy raw material from a supplier unregistered under GST, do I have to pay GST in RCM and can I avail ITC of the same? Reply :- Yes, you have to pay GST via Reverse Charge Mechanism (RCM). You can avail ITC of the GST so paid if you are otherwise eligible....

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Smriti Irani terms GST as a “Great step towards Transparency”

She said that GST is not just ‘Good and Simple Tax’ but it also a ‘Great step towards Transparency’. “Beauty of the GST is it is a Destination tax and it gives money back through Tax credit”, she added....

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Goods and Services Tax India

The Goods and Services Tax or better known as GST is a Value added Tax and is a comprehensive indirect tax which is levied on the manufacture, consumption, and sale of goods and services. The Goods and Services Tax in India would replace all the indirect taxes which are levied today on goods and services by the Central and the State governments. GST is intended to be comprehensive for most of the goods and services. Goods and Services Tax is a single indirect tax for the entire nation, which would make India a unified market. It is proposed to be a single tax on supply of goods and services, from a manufacturer to the end consumer. The credit of all the input taxes which are paid at each and every stage would be allowed in the following stages of value addition that makes GST basically a tax on value addition only at every stage. The end consumer would have to bear only the Goods and Service Tax which is charged by the final dealer within the supply chain, together with all the set-off benefits availed at previous stages.

At Taxguru, we provide all the latest GST news to our viewers. Our group of expert keep a close check on all the latest developments and provide a comprehensive analysis on GST updates. We keep updating our portal with articles on GST for the enlightening our readers. Bookmark us for all the GST articles and much more on GST.