8th GST Council meet concluded on January 4, 2017, but, the deadlock continues between the Centre and the States on the vexed issue of cross empowerment, or dual control of assessees.
Enrolment date for the Central Excise assessees and Service Tax assessees have been differently prescribed. GST Migration for Excise assesses to start from 05/01/2017 and Service Tax assesses from 09/01/2017.
We are pleased to announce release of our Handbook on Goods and Services Tax, titled, GUIDE TO REVISED MODEL GST LAW (With Draft Rules on Registration, Payment, Invoice, Returns and Refund) [3rd Edition]
Whether transaction where Petitioner and his siblings agreed to exchange certain part of undivided share of land with Developer in lieu of constructed area under an Agreement for development, exigible to Service tax?
GST Council members debated on Model Central/State legislation and finally, Council reached a broad consensus on draft of CGST and SGST
Whether handling portion and maintenance including incineration facilities by one party on behalf of another is in the nature of providing ‘Storage and Warehousing Services’ falling under Section 65(105)(zza) of Finance Act, 1994
Whether burden of Service tax can be transferred to other party through contractual agreement? Further, whether Revenue can be asked to recover tax dues from the third party or wait till amount has been recovered from contractors?
Whether Customs duty and Excise duty portion of drawback already claimed by the assessee can be recovered by the Department consequent to the non-realization of export proceeds?
Whilst the Government is keen to make Goods and Services Tax (GST) a reality by envisaged April 1, 2017 deadline, efforts put in by the Government to look into the voluminous suggestions submitted by various stakeholders, on First cut Model GST Law (put on public domain on June 14, 2016), is indeed commendable.
Taking into consideration majority of the concerns raised by the Trade and Industry, the Government has, on November 26, 2016, released the Revised version of the Model GST Law along with Draft GST Compensation Bill.
