Article contains relevant sections, rules, circulars and gist of Circular No. 135/05/2020-GST Dated 31/03/2020 issued in regard of filing and processing of refund electronically. Refund is very important term under the GST for the person who is eligible to claim the refund and for the GST Authority who issues the refund order. Both persons i.e. who […]
Please find the article ‘Analysis of Notification 41/2017 of Integrated Tax (Rate)‘ . The Readers shall be benefited by this article which contains complete analysis about supply of goods at reduced rate of tax to the exporter. The rate of GST has been reduced on all supplies with effect from with effect from 23-10-2017 by virtue […]
Before analyzing the above provisions we should first know that a supplier is liable to pay correct type of tax i.e. IGST or CGST & SGST. The Supplier is liable to pay correct tax. If he paid tax incorrectly he may be penalized.
The term ‘Job Work’ is very important subject under the GST. Though there is no tax under GST upon goods supplied for the purpose of job work to the Job Worker and returned back from the Job Worker after completion of job work to the Principal even then the Legislature has framed full fledged provisions […]
The term ‘Place of Supply’ has the vital role in the GST. To know the nature of Supply whether the supply is inter-state supply or intra-state supply, one should know the place of supply to determine the nature of supply.
The chapter IV of the CGST Act determines the time of supply of goods or supply of services. Tax Liability arises from the date of time of supply. Time of Supply determines the point of time: 1. the time when the liability to pay tax arises; 2. the rate of tax applicable with reference to […]
The event of GST starts where there is a case of Supply. If there is no case of Supply, GST is not required and not to be considered. A word sale has not been taken under GST Act. In place of sale there is a word Supply. Various taxable events in pre-GST regime such as […]
This Article contains provisions in regard of Real Estate and Joint Development Agreement which are applicable from 01-04-2019. It is presumed that all constructions and agreements are effected after 01-04-2019 and there is no case of ongoing project. Index for this Article: A. Definitions B. Supply under Real Estate Business C. Valuation of Supply under […]
Input Tax Credit is one of the Key Features of the GST. Input Tax Credit is available on each supply made under GST subject to conditions prescribed. It is a very important topic for the registered person to understand how he can claim input tax credit, when he can claim, which he cannot claim etc.. […]
Introduction > Registration is a basic requirement to run the net work of GST. > Registration is an Authority available to the Registered Person to collect tax on behalf of the Government. > Registration is a source by which the Registered Person can claim input Tax Credit. > Seamless flow of Input Tax Credit among […]
