"11 May 2020" Archive

Covid 19 Medical Insurance and GST Implications

1. The guidelines issued by the Ministry of Home Affairs (MHA) Government of India vide order no. 40-3/2020-DM-I(A) dated 15.04.2020 amongst other things specifies that all industrial and commercial establishments, work places, offices, etc. shall be required to obtain medical insurance for the workers mandatorily before starting their op...

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Time of Supply under GST (Section 12 to 14 and 148)

Article deals with Section 12 of the CGST Act, 2017 - Time of supply of goods, Section 13 of the CGST Act, 2017 - Time of supply of services, Section 14 of the CGST Act, 2017 - Change in rate of tax in respect of supply of goods or services and Section 148: Special procedure for certain processes...

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ITC for the construction of immovable property for own use

Section 17(5)(d) of the CGST Act, imposes restriction on availing input tax credit in respect of the goods and services or both received by a taxable person for construction of an immovable property (other than plant or machinery) on his own account including when such goods or services or both are used in the course or furtherance of bus...

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Job Work Under GST

DIFFERENT SCENARIOS COVERED UNDER JOB WORK This article is intended to clarify the current issues faced by the manufacturers and job workers under GST law and covers the following aspects: 1. Meaning of job work under section 2(68) of CGST Act 2017, job worker and Principal for section 143 of CGST Act 2017 2. Registration […]...

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No GST on salary paid to Executive Director

In re Anil Kumar Agrawaal (GST AAR Karnataka); Advance Ruling No. KAR ADRG 30/2020; 04/05/2020 Salary received as Director from a Private Limited Company The applicant is in receipt of certain amount termed as salary as Director of a private limited company. Two possibilities may arise with regard to the instant issue of amount received [...

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Supply of Service by Goods Transport Agency (GTA) – Detailed Analysis

This article contains all aspects related to Supply of Service by Goods Transport Agency (GTA) and explains what is GTA, tax payable on forward charge basis as well as on reverse charge basis, exempt service with FAQs. GST is a labyrinth. To understand any particular subject of GST one needs to refer all sections of […]...

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GST: Whats Taxable, whats exempt and whats non taxable

Almost its three years now since GST laws were brought into force, yet there are some confusions in the very basic terminology around which the whole GST revolves. One such web of confusion is the meaning of taxable supply, non taxable supply and exempt supply....

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HC Grant Bail to person allegedly involved in issuing fake GST invoices

Gaurav Maheshwari Vs State of Rajasthan (Rajasthan High Court)

Gaurav Maheshwari Vs State of Rajasthan (Rajasthan High Court) High Court has decided to grant the bail to the petitioner who is allegedly guilty of creating bogus firms/companies solely for the purpose of fraudulently creating and issuing GST invoices without any sale/purchase and actual movement of goods. Further, the prevailing circums...

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Issues to be faced while claiming ITC under GST Laws- Part I

Who would not want to claim the input tax credit (ITC)? ITC reduces the cost of producing/supplying goods/services and thereby reduces the cascading effects. ITC also makes the businesses competitive globally by ensuring that only goods/services are exported and not taxes as part of the cost....

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Refund Under Inverted Duty Structure – Analysis

Section 54 of CGST Act 2017 provides various mechanism to the taxpayer under which they can claim REFUND of the INPUT TAX CREDIT (ITC) they had paid on the purchase of their supplies and otherwise also. > PROVISION As per explanation 3 to section 54 the registered person may claim refund of any unutilised input […]...

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