Goods and Services Tax - Page 4

GTA Services under GST Regime- Part 1

GST has been rolled out but still there are clouds roaming over the status of Goods Transport Agency (GTA) services. I have tried to cover all the topics still any questions are welcomed....

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Government constitutes a GST Feedback and Action Room (FAR)

Government constitutes a GST Feedback and Action Room (FAR) w.e.f. 26-06-2017 to review the information, calls, media inputs etc received from Ministries, State Governments, field formations, social media, news channels, emails etc To reply the queries of the taxpayers and tax officials and to deal with issues related to the implementatio...

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Promote officers of IRS (CBEC) to grade of Principal commissioner of customs, GST & CX

Office Order No. 123/2017 (20/07/2017)

The President of India is pleased to promote the following officers of the Indian Revenue Service (Customs and Central Excise) to the grade of Principal commissioner of customs, GST & CX in the Pay Scale of ₹ 67,000-79,000/- (pre- revised) (HAG) against the vacancies for the panel years 2015-16 and 2016-17, on regular basis with effect ...

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Allocate charges amongst the Members of CBEC

Office Order No. 122/2017 (19/07/2017)

Consequent upon appointment of Shri S.K. Panda and Ms. Ameeta Suri as Member of Central Board of Excise and Customs(CBEC), with the approval of the Competent Authority, it has been decided to allocate the charges amongst the Members of the Central Board of Excise and Customs as under until further orders....

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Impact of GST on Motor Cab Industries

This Article analyzes the impact of GST on this booming and competitive sector of Radio Taxi. How invoicing shall be done by Ola, Uber under GST: The decision on how to charge the GST shall depend upon the companies pricing policy. If they intend to offer all inclusive price, Rs.7 per KM (taxes included), then drivers shall have to b...

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GST Impact On Job Workers

Job work is an integral aspect of the manufacturing industry. Manufacturers usually outsource a portion of their activities to a third person. This turns out be cost-efficient and helps them to be more productive by focusing on their core activities...

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Things to know about GST Returns

Before GST a manufacturer who is compliant under Central Excise, Service Tax, and VAT has to file returns as specified by each of the states. With this GST in place, whether you are a trader, manufacturer, reseller or a service provider, you only need to file GST returns. ...

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RCM- Reverse Charge Mechanism

In India, the concept of reverse charge under GST is being introduced which is already present in service tax. Currently, there is reverse charge mechanism in supply of services only. But in GST RCM applicable for both services and goods....

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Advisory on GST for Pharmaceuticals dealers

C1-24614/16/CT Eoffice11137/17 (15/07/2017)

As many Pharmaceutical Dealers and their association represented various matters the following advisory is issued for information and awareness generation. 1. In earlier VAT system, importers and Manufacturers in Medicines and drugs are entitled for composition. The rate of compounding is 5% of MRP. The MRP means maximum price printed on ...

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GST Exemption on intra-State supplies of second hand goods- Reg.

Notification No. 04/2017-Compensation Cess (Rate) (20/07/2017)

Government hereby exempts intra-State supplies of second hand goods received by a registered person, dealing in buying and selling of second hand goods and who pays the goods and services tax compensation cess on the value of outward supply of such second hand goods as determined under sub-rule (5) of rule 32 of the Central Goods and Serv...

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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.