As per the definition of Goods given u/s 2(52) and definition of services given u/s 2(102) of CGST Act, 2017 money is excluded. As per this if we provide loan to someone then this is not taxable since this is just a transaction in money. But the activities related to use of money is included […]
There are many queries regarding whether all types of advances are exempt from payment of GST. I wish to clarify this doubt by taking the help of various provisions of the law. As per Sec 12 of the CGST Act, 2017 Time of supply of goods is earliest of: 1. Date of issue of invoice 2. […]
Sub section 5 of Section 49 of CGST Act, 2017 states the manner of utilization of Input Tax Credit in the following manner: -integrated tax shall first be utilized towards payment of integrated tax and the amount remaining, if any, may be utilized towards the payment of central tax and State tax, or as the […]
GTA means any person who provides service in relation to transport of goods by road and issues consignment note, by whatever name called. The GST Act does not provide the definition of GTA. The above definition of GTA is given as per para 2(ze) of notification 12/2017- Central Tax (Rate) dated 28-06-2017.
