Simplified GST Series -Section 147 –Deemed Exports/Section 150-Obligation to furnish information return Section 147-The Government may, on the recommendations of the Council, notify certain supplies of goods as deemed exports, where goods supplied do not leave India, and payment for such supplies is received either in Indian rupees or in convertible foreign exchange, if such […]
Simplified GST Series –Miscellaneous- Section 143/CGST ACT 2017 Section 143-Job Work Procedure ♣ This section provides for a special procedure to exempt supplies from payment of GST by a principal to a job worker and return from a job worker to a principal subject to certain conditions and procedures. ♣ The definition of job work […]
Simplified GST Series /Offences & Penalties /Section 134-138/CGST ACT 2017 Article explains Provisions of Section 134- Cognizance of offences, Section 135- Presumption of culpable mental state, Section 136- Relevancy of statements under certain circumstances, Section 137- Offences by Companies and Section 138- Compounding of offences. Section 134- Cognizance of offences- No Court shall take cognizance […]
Offences & Penalties- Punishment & Liabilities /Section 132-133- CGST Act 2017 Section 132- Punishment for certain offences- Section 132 talks about cases of tax evasion and penal actions applicable on specific events subject to amount of tax sought to be evaded.This provision provides for prosecution of offenders and the punishment initiated on them. ♠ There […]
Simplified GST Series- Offenses & penalties/Section 130-131/CGST ACT 2017 Article explains Section 130-Confiscation of goods or conveyances and levy of penalty and Section 131- Confiscation or penalty not to interfere with other punishments. Section 130-Confiscation of goods or conveyances and levy of penalty- (1) Notwithstanding anything contained in this Act, if any person – (i) […]
Section 129 provides for the basis relating to detention of goods or conveyances or both in case of certain defaults under GST law. Detention means keeping or holding back either by force or otherwise; Confiscation means to appropriate to the Government account Seizure means to take forcible possession of.
Simplified GST Series –Offences & Penalties /Section 123-128/CGST ACT 2017/PART-2 Article explains Section 123 Penalty for failure to furnish information return, Section 124 Fine for failure to furnish statistics, Section 126 General disciplines related to penalty, Section 127 Power to impose penalty in certain cases and Section 128 Power to waive penalty or fee or […]
Section 122- Penalty for certain offences under GST The section declares the offences that attract penalty as a consequence, apart from the requirement to pay the tax and applicable interest. Some of the offences listed under this section may also attract prosecution under section 132 but that depends on the gravity of the offence defined […]
Simplified GST Series-Appeals-Revision/ Section 113-121/CGST ACT 2017/PART-3 Article explains Section 113 – Orders of Appellate Tribunal, Section 114 – Financial and administrative powers of President, Section 115 – Interest on refund of amount paid for admission of appeal, Section 116 – Appearance by authorised representative, Section 117 – Appeals to High Court, Section 118 – […]
Simplified GST SERIES –Appeals & Revision -Section 109-112-Part 2- Article explains Section 109 – Constitution of Appellate Tribunal and Benches thereof, Section 110-President and Members of Appellate Tribunal, their qualification, appointment, conditions of service, etc., Section 111- Procedure before Appellate Tribunal and Section 112-Appeals to Appellate Tribunal. Section 109 – Constitution of Appellate Tribunal and […]
