Goods and Services Tax

Provisions of GST Effective From 1st April 2019

Article discusses changes in 1. GST Provisions related to Threshold Limit for Registration in case of goods , Services and ZBOth Goods & Services 2. Changes in GST Composition Scheme 3. Supply with or without consideration – treated as supply under GST, Changes in TCS Provisions and 4. Proposed New GST Return Formats. Provisions Bef...

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GST Provisions Related to Information Technology Sector

Following write-up summarises the GST provisions as applicable to IT/ITES sector. 1. Goods or Services: Though GST is applicable to both goods or services, it is necessary to determine as to whether the impugned supply is ‘supply of goods’ or ‘supply of services’ and all machinery provisions of GST law differentiat...

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Holi with colors of GST! Enjoy It

Pink color represents the clarification regarding to sales promotion. If Free samples and gifts are supplied without consideration under GST, ITC of such items cannot be claimed. Also, Buy one get one, quantity discount, sales promotion etc. related clarification regarding allowance of ITC has been issued. A useful circular for taxpayers...

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GST and Statutory Compliance under Dropshipping business

1) What exactly is the Business Model of Dropshipping ? The business model is some what like a middle man between the supplier and prospective customer. But in this neither the supplier or Seller knows about each other. In this Supply Chain Management System the Consignor who carried out the sale through his Website/App never […]...

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Recent Developments in GST on Real Estate

The 33rd meeting of GST Council was held on 20.02.2019 which was later adjourned to 24.02.2019.  In a major move, GST Council recommended a much needed breather to real estate sector so much so that it would be beneficial to both – builders-developers as well as buyers and this sector, already reeling under slow down / recession will b...

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Join 4 day Course on GST by M.S.M.E. with Certification

JOIN 4 day GST Practitioner Advanced Certified Training course of Ministry of M.S.M.E. at Agra, Trichy, Chennai, Cochin, Hyderabad, New Delhi, Mumbai, Kolkata, Bangalore, Jaipur, Goa, Coimbatore, Pune and Ahmadabad in March and April 2019 starting from 16th March 2019. BROCHURE FOR GST PRACTITIONER ADVANCED CERTIFIED TRAINING ORGANISEED B...

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Format for Bill of Supply for goods & Service as per notification no. 2/2019 CGST Rate

Format for Bill of Supply for goods & Service as per notification no. 2/2019 CGST Rate Notification no. 02/2019 CGST Rate has been issued for Composition Scheme for Service provider. Format for bill of supply is attached herewith. Bill of Supply For Service and Goods (Taxable person paying tax in terms of notification No. 2/2019-C...

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Online GST Certification Course by TaxGuru & GST Professionals (Registration Closing Soon)

Join Online GST Certification Course by TaxGuru & GST Professionals – March’19 Batch- Starting from 24th March 2019. After Completing nine successful batches on GST We are happy to announce Advanced Online GST Certification Course – March 2019 Batch to help Learn GST in Easy and Practical way to help you be an Expert in [&hellip...

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Refund- Enhancement on GST Portal

Refund |Enhancements on GST Portal |March 2019 While filing refund application of ITC accumulated due to Inverted Tax Structure, taxpayer can now enter his own GSTIN in the inward supply detail statement on the GST Portal...

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34th GST Council Meeting Date Announced

34th GST Council Meeting is scheduled to be held on 19th March 2019 (Tuesday) by Video Conferencing. It is expected that the decision will be taken on GST rates for lottery, which was not been taken during 33rd GST Council Meeting....

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GST on Goods & services supplied by Rajiv Gandhi Centre for aquaculture

In re Ms. Rajiv Gandhi Centre for aquaculture (GST AAR Tamilnadu) - In re Ms. Rajiv Gandhi Centre for aquaculture (GST AAR Tamilnadu) 1. The Applicant, RGCA is liable to be registered under Section 22 of CGST and TNGST Act. 2. RGCA shall obtain registration in every such State or Union territory in which he is so liable. 3. The rate of tax for various supplies of [&...

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ITC on credit note from vendors post supply of goods by vendors: Controversial Ruling

In re M/s. MRF Limited (GST AAR Tamilnadu) - In re M/s. MRF Limited (GST AAR Tamilnadu) Whether the MRF Ltd can avail the ITC of the full GST charged on the supply of invoice or a proportionate reversal of the same is required in case of post purchase discount given by the supplier of the goods or services AAR held that Proviso to […]...

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GST Advance ruling cannot be given on transaction prior to date of Application for Advance Ruling

In re KEI Industries Limited (GST AAAR Rajasthan) - In re KEI Industries Limited (GST AAAR Rajasthan) As the question posed by the party is related to the supplies undertaken by him, prior to the date of filing of the Application for Advance Ruling, so no ruling is given on the question . Also Read AAR Ruling- Electric cables cannot be treated as acc...

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Annuity paid instead of toll charges to developers is exempt from GST

In re Ms Nagaur Mukundgarh Highways Pvt. Ltd. (GST AAAR Rajasthan) - In re Ms Nagaur Mukundgarh Highways Pvt. Ltd. (GST AAAR Rajasthan) Annuity payment is exempted from GST  in terms of Entry No. 23A of the Notification No.12/2017-Central Tax (Rate) Dt. 28.6.2017. However only 50% ITC of GST paid on Input & Input services used in the construction phase, is avail...

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Supply to Director of Education (S & HS) qualifies for GST exemption

In re IL&FS Education and Technology Services Ltd. (GST AAAR Maharashtra) - In re IL & FS Education and Technology Services Ltd. (GST AAAR Maharashtra) The Appellate Authority for Advance Ruling set aside the ruling given by the Advance Ruling Authority by holding that  the supply of goods and services by the Appellant to the Director of Education (S & HS) qualifie...

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TDS under section 31 of MVAT Act after 1st July, 2017

Trade Circular No. 10T of 2019 - (16/03/2019) - Certain queries have been received by this office seeking clarification with regards to applicability of TDS under MVAT Act after 1st July, 2017. The amended provisions are explained as follows:a) An employer should have deducted tax (TDS), in respect of a works contract, executed upto 30th June 201...

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Notification under Maharashtra Right to Public Services Act, 2015

Notification No. MRPS/AMD/928/ADM-11 - (15/03/2019) - COMMISSIONER OF STATE TAX, MAHARASHTRA STATE GST Bhavan, Mazgaon, Mumbai 400 010, dated the 15th March 2019 NOTIFICATION THE MAHARASHTRA RIGHT TO PUBLIC SERVICES ACT, 2015. No. MRPS/AMD/928/ADM-11.—In exercise of the powers conferred by sub-section (1) of section 3 of the Maharashtra Right to Publ...

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CBIC creates National Bench of GST Appellate Tribunal (GSTAT)

Notification No. S.O. 1359(E) - (13/03/2019) - GST Council, hereby notifies the creation of the National Bench of the Goods and Services Tax Appellate Tribunal (GSTAT) at New Delhi, with effect from the date of publication of this notification in the Gazette of India (Extraordinary)....

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Appointment of common authority to exercise powers U/s. 73,74, 75 & 76 of CGST Act, 2017

Order No. 2/2019-GST - (12/03/2019) - Central Board of Indirect Taxes and Customs hereby assigns the case specified at Column (2) of the Table below to the Central Tax officer specified at Column (3) of the said Table for the purpose specified at Column (4) of the said Table....

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Tax Amnesty scheme in Maharashtra: Salient features & procedures

Trade Circular No. 9T of 2019 - (08/03/2019) - Salient features of Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late Fee Ordinance, 2019 and its procedural aspects related to various Acts administered by the Maharashtra Goods and Services Tax Department....

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Recent Posts in "Goods and Services Tax"

GST on Goods & services supplied by Rajiv Gandhi Centre for aquaculture

In re Ms. Rajiv Gandhi Centre for aquaculture (GST AAR Tamilnadu)

In re Ms. Rajiv Gandhi Centre for aquaculture (GST AAR Tamilnadu) 1. The Applicant, RGCA is liable to be registered under Section 22 of CGST and TNGST Act. 2. RGCA shall obtain registration in every such State or Union territory in which he is so liable. 3. The rate of tax for various supplies of […]...

Read More

Provisions of GST Effective From 1st April 2019

Article discusses changes in 1. GST Provisions related to Threshold Limit for Registration in case of goods , Services and ZBOth Goods & Services 2. Changes in GST Composition Scheme 3. Supply with or without consideration – treated as supply under GST, Changes in TCS Provisions and 4. Proposed New GST Return Formats. Provisions Bef...

Read More

GST Provisions Related to Information Technology Sector

Following write-up summarises the GST provisions as applicable to IT/ITES sector. 1. Goods or Services: Though GST is applicable to both goods or services, it is necessary to determine as to whether the impugned supply is ‘supply of goods’ or ‘supply of services’ and all machinery provisions of GST law differentiat...

Read More

Holi with colors of GST! Enjoy It

Pink color represents the clarification regarding to sales promotion. If Free samples and gifts are supplied without consideration under GST, ITC of such items cannot be claimed. Also, Buy one get one, quantity discount, sales promotion etc. related clarification regarding allowance of ITC has been issued. A useful circular for taxpayers...

Read More

GST and Statutory Compliance under Dropshipping business

1) What exactly is the Business Model of Dropshipping ? The business model is some what like a middle man between the supplier and prospective customer. But in this neither the supplier or Seller knows about each other. In this Supply Chain Management System the Consignor who carried out the sale through his Website/App never […]...

Read More

GST, Income Tax, Company Law, LLP Compliance Book 2019

As you know, our profession is growing exponentially and the main reason is change. Today we are seeing amendments and modifications in almost all laws and are at a stage where we have to transform our thought process and discover new ways of performance. It is time for us to see that clients see value […]...

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Recent Developments in GST on Real Estate

The 33rd meeting of GST Council was held on 20.02.2019 which was later adjourned to 24.02.2019.  In a major move, GST Council recommended a much needed breather to real estate sector so much so that it would be beneficial to both – builders-developers as well as buyers and this sector, already reeling under slow down / recession will b...

Read More

ITC on credit note from vendors post supply of goods by vendors: Controversial Ruling

In re M/s. MRF Limited (GST AAR Tamilnadu)

In re M/s. MRF Limited (GST AAR Tamilnadu) Whether the MRF Ltd can avail the ITC of the full GST charged on the supply of invoice or a proportionate reversal of the same is required in case of post purchase discount given by the supplier of the goods or services AAR held that Proviso to […]...

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Post Supply discount other than those covered by section 15(3) to be treated as non-payment

There had been various contentions relating to post-supply discounts/incentives/rebates being given by the supplier to its customer. There are whole lot of transactions such as quantity based discounts, cash discounts, price adjustment etc. which have raised the complexity regarding levy of GST revolving around discount provisions. The wr...

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GST Audit Fee: Business Houses And Auditors

ON A HALF TRUTH: ONLY RECONCILIATION IS TO BE PREPARED BY THE GST AUDITOR Post reading this article one will appreciate that how an efficient audit can be a value addition tool to the business houses. Depth of procedures of auditors will lead to safeguard the registered person from facing the same issues in assessment. […]...

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Goods and Services Tax India

The Goods and Services Tax or better known as GST is a Value added Tax and is a comprehensive indirect tax which is levied on the manufacture, consumption, and sale of goods and services. The Goods and Services Tax in India would replace all the indirect taxes which are levied today on goods and services by the Central and the State governments. GST is intended to be comprehensive for most of the goods and services. Goods and Services Tax is a single indirect tax for the entire nation, which would make India a unified market. It is proposed to be a single tax on supply of goods and services, from a manufacturer to the end consumer. The credit of all the input taxes which are paid at each and every stage would be allowed in the following stages of value addition that makes GST basically a tax on value addition only at every stage. The end consumer would have to bear only the Goods and Service Tax which is charged by the final dealer within the supply chain, together with all the set-off benefits availed at previous stages. At Taxguru, we provide all the latest GST news to our viewers. Our group of expert keep a close check on all the latest developments and provide a comprehensive analysis on GST updates. We keep updating our portal with articles on GST for the enlightening our readers. Bookmark us for all the GST articles and much more on GST.