S.O. 2338(E).—In exercise of the powers conferred by Explanation 5 to clause (19AA) of section 2 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby amends the notification of the Government of India, Ministry of Finance number S.O. 3204(E) published in the Gazette of India
There are several confusions in mind of registered suppliers/recipient regarding registered/unregistered suppliers of Transport Services regarding rate of GST/RCM etc on Transportation of Goods when different rate items supplied in single Invoice. I have tried to sum up all concerning provisions at one place to explain provisions so during teething trouble we should have some relax of looking provisions described at different places in Act/Rules/Notifications:
In this regard section 8 of the Goods and Services tax (Compensation to States) Act, 2017 hereinafter referred to as [GSTC Act, 2017] provides for levy and collection of Compensation Cess and reads as under
When goods are exported out of India, a registered taxable person shall have following 2 options to claim refund: (1) Pay the IGST First and then export the goods as per Rule 96 of CGST Rules, 2017 deals, and (2) Export the goods without paying IGST as per Rule 96A by furnishing bond or LUT- […]
When registration under GST is required to be taken by Jewelers? A. i) Once the aggregate turnover crosses Rs.20 lakh a person becomes liable for registration. Time limit – Within 30 days from the day limit for aggregate turnover is crossed.
The article primarily deals with the procurements made by the SEZ units from the DTA suppliers and the tax ability thereon. It contains a summarized procedure for availing supplies at zero rate of tax by the SEZ units and also discusses the refund mechanisms available in the hands of the supplier.
The corporates today are rewarding their shareholders in various fashionable ways like Bonus shares (equity and preference shares), bonus debentures, buyback, etc. These modes of distribution could prove to be more efficient than conventional method of distribution i.e. cash dividend.
Stakeholders have drawn attention of this Ministry to the serial no. 5 of notification No. G.S.R. 583(E) dated 13th June, 2017 which states that requirements of reporting under section 143(3)(i) of the Companies Act, 2013 shall not apply to certain private companies as mentioned therein and have sought clarification w.r.t. the financial year(s) in respect of which the said exemption shall be applicable.
Dr Jitendra Singh appreciated the role played by ICC in collaborating to hold the GST awareness programmes. He said that the Northeast, along with certain other States, is bound to be a huge beneficiary of the GST.
A Case Study on the birth of the Goods and Services Tax (GST) in India – The GST Saga: A Story of Extraordinary National Ambition was released here today by the Union Finance Minister, Shri Arun Jaitley in his office in North Block in the national capital.
