There is drastic change in Capital Goods definition under Revised GST Model Law from Model GST Law. Under GST law definition was very exhaustive though under Revised GST law It is quite simple.
There are 33 Sections [ Earlier 22 Sections ]under transitional provision of Revised GST Law when all major indirect tax Act’s going to subsumed under the GST Law.
One need to understand definition of Job work under GST law first to easily understand provision relating to supply of goods to job worker.
This chapter will focus on time of supply of goods and services vis a vis valuation of supply which includes goods and services.
Every person who is registered under the earlier law shall be issued provisional Number and after submission of requisite documents , GSTIN shall be issued as prescribed.
Before understanding the Input tax credit under GST Law it is essential to understand the changes made in earlier Law i.e. CENVAT under Rule ,2004 to the new law. After giving the due consideration, it is clear from the given table below that except few minor changes, Capital Goods under Rule 2(a) and Section 2[20] are same.
There are 22 sections under transitional provision of GST Law when all major indirect tax Act’s going to subsumed under the GST Law. This is most important provisions as these are applicable from the appointed day means when the GST Law shall be applicable.
Under manpower services – Provident fund and bonus paid shall be included in taxable service and service tax shall be charged Service Tax Payable on PF & Bonus Under manpower services Section 67 of the Finance Act, 1994- Valuation of Services In case of “Laxmi Construction v Commissioner in CESTAT Allahabad” 2016 STR 561, Tribunal […]
CENVAT Credit on Canteen Services and House Keeping/Cleaning Services availed in office building are admissible to Assessee when same was situated within licensed factory premises of Assessee.
Rule -6(1) Rule is amended to provide that CENVAT Credit shall not be available on input used for manufacture of exempted goods and input used for empted services. Rule further direct that procedure for calculation of credit not allowed is stated in sub rule (2) and (3) for different situation.
