Advance Ruling under GST (Section 95 to 106) Advance ruling is a written decision given by the tax authorities to an applicant on questions relating to applicability of GST on supply of their goods or services.
Query 1. Whether Sale of food by a restaurant is a supply of goods or a supply of service? Query 2. Sir i am having a small shop of samosa, jalebi and gulabjamun previosly I was paying 1 %on turn over now what should I do? Ans: GST has different slab rates for goods, services […]
All about Penalties under GSTArticle discusses Penalties under GST regime for failure to furnish returns i.e. details of Outward supplies or Inward supplies, Failure to furnish Annual return u/s 44, Electronic Commerce operator failing to furnish information required through Notice u/s 52(12), failure to pay tax or correct tax, Person covered u/s 150 for failure to furnish information return or wilfully furnishing false information return etc.
Export will be treated as zero-rated supply. Under zero-rated supply, IGST paid on export goods or the input tax credit proportionate to the goods and services consumed in goods exported under bond /LUT would be refunded.
IGST and GST Compensation cess will be levied on imports by virtue of sub-sections (7) & (9) of Section 3 of the Customs Tariff Act, 1975. Majority of imports would attract levy of IGST except a few commodities such as pan masala, certain petroleum products which attract levy of CVD.
GST Tax Invoice, Credit and Debit Notes Tax Invoice – Sec. 31:- 1. Tax Invoice is to be issued on or before: 2. Removal of goods, where supply involve movement of goods; or 3. Delivery / making available of goods.
Composition Levy – Section 10 of CGST Act- 1. The Composition Scheme for small businesses has been provided to help them with maintaining minimal compliance. 2. This Composition Scheme will make compliance with tax laws hassle free for eligible businesses opting for the scheme.
Articles explains GST Registration Provisions & related rules in a simple manner covering related definitions, Compulsory Registration in GST, Deemed Registration, Procedure for Registration, GST Migration of person registered under existing law, Unique Identity Number for Specified entities , Display of RC & GSTIN on the name board, Amendment of Registration, Cancellation of registration, Application for cancellation of registration etc.
GST migration of person registered under existing law (Rule 16)
CGST shall be levied by the Central Government on the intra-state supply of goods and / or services, SGST / UTGST shall be levied by the State Government / Union Territories on the intra-state supply of goods and / or services, IGST shall be levied by the Central Government on the inter-state supply of goods and / or services.
