Thus, it appears that only on the basis of the valuation report received from the said officer – Assistant Valuation Officer, the assessing authority sought to reopen the proceeding under Section 147 of the Act, 1961 which is clearly not an information for reopening the assessment proceeding
After the 17th GST council meet, headed by Finance Minister, Arun Jaitley in New Delhi, it seems that the roll out of GST is unstoppable. From a layman to a businessman, the waves of GST roll out are all around the corner. Almost all major bills are being cleared by the Council.
GST Council in its 17th meet held on June 18, 2017 in National capital, gave relaxation to file outward return for the month of July by September 5, 2017 instead of August 10, 2017 and for the month of August by September 20, 2017.
Power to Levy and Collect tax under reverse charge: Section 9(3) of the CGST Act, 2017, read with section 5(3) of the IGST Act, 2017 provides the power to levy tax on receiver of the supply of goods and services.
For the first two months of GST implementation, the tax would be payable based on a simple return (Form GSTR-3B)[See Draft Return Rule 3(5) for reference] containing summary of outward and inward supplies which will be submitted before 20th of the succeeding month
Seeks to empower the Principal Commissioner of Central Tax, Bengaluru West to grant registration in case of online information and database access or retrieval services provided or agreed to be provided by a person located in non-taxable territory and received by a non-taxable online recipient.
Central Government hereby appoints the 22nd day of June, 2017, as the date on which the provisions of sections 1, 2, 3, 14, 20 and 22 of the IGST Act shall come into force.
1. GST Council decided to implement GST from 1st Day of July, 2017. 2. Relaxation in Return filing for the first 2 months (July and August): a summary return will required to be filed on self-declaration basis (in GSTR-3B) for first 2 months i.e. July and August by 20th day of next month. i.e. by 20th […]
Which Government tax is to be paid to (Place of Supply) On all the inter-state supplies, tax will be levied and collected by central government which will be then shared with the state of consumption of supply. This tax is known as Integrated Goods & Service Tax (IGST) which is equal to CGST + SGST […]
For home buyers, there are lots of questions and confusions are moving around. Like, Many people have booked under construction property and paid just a token money and in many cases 50% have been paid or even more.
