Key outcome of 40TH GST council meeting – The 40th GST COUNCIL met under the chairmanship of Union Minister for Finance & Corporate Affairs Nirmala Sitharaman here today. Read- Recommendations of 40th GST council related to Law & Procedure Summary of Relief granted by 40th GST Council Meeting to taxpayers Period Category of taxpayers Late […]
Section 11- Power to grant exemption from tax – Today i will discuss provisions of Section 11 in very simplified manner- Section 11 (1) – Where the Government is satisfied that it is necessary in the public interest so to do, it may, on the recommendations of the Council, by notification, exempt generally, either absolutely […]
Section 10 of CGST ACT 2017– We will discuss today provisions of Section 10 in simplified manner- Section 10- This Section provides for a registered person to opt for payment of taxes under a scheme of composition, the conditions attached thereto and the persons who are entitled, but not mandated, to make payment of tax […]
SECTION 9- Levy and Collection – In my previous articles we have discussed Section 7 and 8 now we will discuss today Section 9 very important section of CGST ACT 2017 in simplified manner. Section 9 is the charging provision of the CGST Act. It provides the maximum rate of tax that can be levied […]
Section 8- Tax liability on Composite and Mixed Supply- Today I will discuss provisions of Section 8 of CGST ACT 2017 in very simplified manner- We all know- 1. The tax liability on a composite or a mixed supply shall be determined in the following manner, namely: — (a) a composite supply comprising two or […]
Section 7 of CGST ACT 2017– There are so many articles related to concept supply already available to all of us so I have tried to sum-up important points to kept in mind related to ‘supply’ –milestone of GST ACT. Section 7 (1)- (a)- Three points to remember- For purpose of this Act- √ Supply […]
