Rule 88A of Central Goods and Services Tax (CGST) Rules, 2017 read with Section 49(5), 49A and 49B of CGST Act, 2017 deals with Order of utilization of input tax credit. Rule 88A is been inserted vide Inserted vide Notification No. 16/2019-Central Tax (Dated 29th March, 2019) and Section 49A and 49B were inserted vide […]
Which category of persons can claim exemption from GST registration under new notification? Any person, who is engaged in exclusive supply of goods and whose aggregate turnover in the financial year does not exceed forty lakh rupees
Why the Composition Scheme for Service Providers ?? 1. A need was felt to extend the benefit of paying the tax at lower rate under the simpler composition scheme to even the suppliers of services, hitherto only available to the suppliers of goods. Press Release dated 22.12.2018 issued by the GST Council after their 31st […]
1. Recently Supreme Court in the case of Regional Provident Fund Commissioner vs Vivekananda Vidyamandir and Others (CIVIL APPEAL NO(s). 6221 OF 2011) had an occasion to determine whether the special allowances paid by an establishment to its employees shall fall within the expression ‘basic wages’ and hence includible in the computation of the contribution to […]
1. In life match-making is perhaps necessary only once. If one finds a perfect match (perfection is subjective) life becomes much more joyous and blissful. However coming to GST, such match-making is to be done continuously. Also it is not necessary that even after a successful match, life will be joyous. 2. Current month perhaps […]
1. Sec. 9(3) of the CGST Act, 2017 as well as Sec. 5(3) of the IGST Act, 2017 grants power to the Government, on the recommendations of the GST Council, to specify the categories of supplies of goods or services or both in respect of which the tax shall be payable by the recipient and […]
1. Concept note on the GST issued by CBIC beautifully captures the design of the GST which has been implemented in our country. Same reads as under: “The IGST model is a unique contribution of India in the field of VAT. The IGST Model envisages that Centre would levy IGST (Integrated Goods and Service Tax) […]
COMPREHENSIVE ANALYSIS UPDATED WITH THE AMENDMENTS IN THE RULES Vide CGST (Amendment) Act, 2018 as well as IGST (Amendment) Act, 2018; CGST Act, 2017 as well as IGST Act, 2017 have been amended respectively for the first time since the implementation of GST in our Country. Present write-up is an attempt to analyze the said […]
1. Pre-import condition (i.e. import first and then export) was inserted in Notification No. 18/2015 – Customs (as condition no. (xii)) as well as Notification No. 20/2015 – Customs (as condition no. (xiii)) vide Notification No. 79/2017 – Customs dated 13-10-2017. Said condition was required to be met if IGST exemption was claimed on imports made […]
1. Vide Notification No. 29/2018-Central Tax (Rate) dated 31.12.2018 Sr. No. 14 has been inserted, w.e.f. 01.01.2019, to the Notification No. 13/2017- Central Tax (Rate) which provides for the payment of tax in respect of security services under reverse charge mechanism (RCM). Same reads as under: Sl. No. Category of Supply of Services Supplier of […]
