Goods and Services Tax

A quick grasp of clarificatory circulars issued by CBIC on 31st Dec 2018 & 1st Jan 2019

On 31st December 2018, CBIC has issued multiple circulars to clarify various issues. Besides, CBIC also issued various notifications and orders to give effect to the decisions taken at the 31st GST Council meeting as a welcome for New Year of 2019. In this article, I would give you a quick grasp of all the […]...

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GST on Gems & Jewelry A Detailed Analysis

Gems & Jewelry Industry in India The gems and jewellery market in India is home to more than 300,000 players, with the majority being small players. Its market size is about US$ 75 billion as of 2017 and is expected to reach US$ 100 billion by 2025. India is one of the largest exporters of […]...

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Security services under GST law – Transition to RCM

Security service is a service wherein a person supplies security personnel to another person for a consideration. In the erstwhile Service tax regime, security services provided by individual, HUF or partnership firm to a body corporate were covered under Reverse Charge Mechanism (RCM). However, with the enactment of Goods & Services ...

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जीएसटी एक्सपर्ट सुधीर हालाखंडी के साथ एक इंटरव्यू- जीएसटी का 18 माह का सफ़र

भारत में लगने वाले जीएसटी के बारे में सोचे तो कभी –कभी एक नाम आता है जहन में और वो नाम है जीएसटी एक्सपर्ट सुधीर हालाखंडी का . आइये आज...

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GST on Advance Payment

Generally, GST is imposed on a supplier of goods and service at the time of receipt of payment. However, in some cases, an advance payment is first made by the recipient of the goods or/and service or both to the supplier. In this article, we will discuss the applicability of GST on advance payments. GST […]...

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Steps To Enable Tax Payers To Complete GST Migration Process-2019

The GST Council, in its 32nd. meeting, approved the proposal to extend migration for taxpayers for a second time (Central Tax Notification No. 67/2018 and State Notification No. 1890 F.T. both dt. 31.12.2018), who received provisional IDs but could not complete the migration process even after activating PART A of the migration form. In o...

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Join Online GST Certification Course (Last 5 days to Register)

Join Online GST Certification Course by TaxGuru, Govt. of India (Ministry of M.S.M.E) & GST Professionals – Jan’19 Batch- Starting from 20th January’ 2019 (Limited Seats- Registration Closing Soon). Due to overwhelming response and feedback from previous batches, TaxGuru, GST Professionals and Govt. of India (Ministry of M.S.M.E...

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7 recent Changes on GST Portal

1. Registration: Bank details not to be provided while filing registration application by Normal, OIDAR & NRTP Taxpayer Normal, OIDAR & NRTP Taxpayers applying for a fresh registration application, are now not required to give bank details, while filing it. They can give this detail later on by filing a non-core amendment of regis...

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Last date to pass exam for GST practitioner to be extended till 31.12.2019

The last date for passing the examination for GST Practitioners to be extended till 12.2019 for those GST Practitioners who have enrolled under rule 83(1)(b) i.e. who were sales tax practitioner or tax return preparer under the existing law for a period of not less than five years....

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7 Major Decisions taken by 32nd GST Council

1. Increase in Turnover Limit for the existing Composition Scheme: The limit of Annual Turnover in the preceding Financial Year for availing Composition Scheme for Goods shall be increased to Rs 1.5 crore. Special category States would decide, within one week, about the Composition Limit in their respective States....

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Benefit of reduced GST rate not available to Evacuated Tube Collector

In re M/s Nuetech Solar Systems Private Limited (GST AAR Karnatka) - The product Evacuated Tube Collector (ETC) though falls under Chapter 84 heading 19 but is not covered under SL.No.234 of Schedule-I of the Notification 01/2017-Integrated Tax(Rate) dated 28.06.2017, effective from 01.07.2017, & hence not entitled for concessional rate of 5% IGST....

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ITC on lease rental of land on which Hotel is being constructed for pre-operative period

In re GGL Hotel And Resort Company Limited (GST AAR West Bangal) - In re GGL Hotel And Resort Company Limited (GST AAR West Bangal) Whether ITC is admissible on lease rental paid for the pre-operative period for the land on which a hotel is being constructed Input Tax Credit is not available to the Applicant for lease rent paid during pre-operative period for the l...

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Classification and rate of GST on PP non-woven bags

In re U.S Polytech (GST AAR West Bangal) - In re U.S Polytech (GST AAR West Bangal) ‘PP Non-woven Bags’, specifically made from non woven Polypropylene fabric are plastic goods to be classified under Sub Heading 3923 29 and taxed at 18 % rate under Serial No. 108 of Schedule III of Notification no. 01/2017-C.T (Rate) dated 28-06-2017 und...

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Company established by Govt notification liable to deduct TDS under GST

In re WEBFIL Ltd (GST AAR West Bengal) - In re WEBFIL Ltd (GST AAR West Bengal) The Applicant- WEBFIL Ltd, is established by government notification, is liable to deduct tax at source under section 51(1) read with Notification No. 1344-FT dated 13/09/2018, being a company controlled by the Central and the State Governments. FULL TEXT OF O...

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GST Rate on works contract for constructing a civil structure for a Govt entity

In re ITD Cementation India Ltd (GST AAR West Bengal) - The IWAI is clearly not the Government of India, but a Government Entity having no sovereign authority to collect Government revenue. It is, therefore, evident that the Applicant is supplying works contract service for an original work that is meant for commerce and business. It does not, therefore,...

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Bihar relaxes e-way bill requirement

Notification No. S.O. 14 - (14/01/2019) - The e-way bill in respect of movement of goods originating and terminating in the State of Bihar shall not be required to be generated where the consignment value does not exceed One Lac Rupees...

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Reg. Exemption from payment of late fee for delayed profession tax payment in Maharashtra

Trade Circular No. 6T of 2019 - (14/01/2019) - If it is found that the employer has not fulfilled the conditions or has submitted false information to avail the benefit of exemption then, his exemption of late fee shall be revoked and action will be taken against him as per the provisions of law....

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Revision in Criteria for Withdrawal of pending MVAT Assessment Proceeding

No. VAT-1518/CR 23/Taxation-1 - (11/01/2019) - Amendment to MVAT Notification-Criteria for Withdrawal of pending Assessment Proceeding,-Criteria as decided by Commissioner FINANCE DEPARTMENT Madam Cama Marg, Hutatma Rajguru Chowk Mantralaya, Mumbai 400 032, dated the 11th January 2019 NOTIFICATION MAHARASHTRA VALUE ADDED TAX ACT, 2002. No. VAT-1...

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Change in due date of Maharashtra VAT Audit report in Form 704

Notification No. VAT. 1519/C.R.02/Taxation-1 - (09/01/2019) - Maharashtra Government notifies Change in due date of Maharashtra VAT Audit report in Form 704 to on or before 28th February of the immediate succeeding Financial Year....

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CGST (Amendment) Act, 2018- Clarification on Transitional Credit

Circular No. 87/06/2019-GST - (02/01/2019) - The CENVAT credit of service tax paid under section 66B of the Finance Act, 1994 was available as transitional credit under section 140(1) of the CGST Act and that legal position has not changed due to amendment of section 140(1) on account of following reasons:...

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Recent Posts in "Goods and Services Tax"

A quick grasp of clarificatory circulars issued by CBIC on 31st Dec 2018 & 1st Jan 2019

On 31st December 2018, CBIC has issued multiple circulars to clarify various issues. Besides, CBIC also issued various notifications and orders to give effect to the decisions taken at the 31st GST Council meeting as a welcome for New Year of 2019. In this article, I would give you a quick grasp of all the […]...

Read More

GST on Gems & Jewelry A Detailed Analysis

Gems & Jewelry Industry in India The gems and jewellery market in India is home to more than 300,000 players, with the majority being small players. Its market size is about US$ 75 billion as of 2017 and is expected to reach US$ 100 billion by 2025. India is one of the largest exporters of […]...

Read More

Steps To Enable Tax Payers To Complete GST Migration Process-2019

The GST Council, in its 32nd. meeting, approved the proposal to extend migration for taxpayers for a second time (Central Tax Notification No. 67/2018 and State Notification No. 1890 F.T. both dt. 31.12.2018), who received provisional IDs but could not complete the migration process even after activating PART A of the migration form. In o...

Read More

Join Online GST Certification Course (Last 5 days to Register)

Join Online GST Certification Course by TaxGuru, Govt. of India (Ministry of M.S.M.E) & GST Professionals – Jan’19 Batch- Starting from 20th January’ 2019 (Limited Seats- Registration Closing Soon). Due to overwhelming response and feedback from previous batches, TaxGuru, GST Professionals and Govt. of India (Ministry of M.S.M.E...

Read More

GSTR2A Purchase Reconciliation Excel automated tool

This automated excel tool will reconcile the User’s Purchase book with GSTR2A returns completely, listing out matched and unmatched invoices both Invoice-wise and vendor-wise with complete details of Invoice and GST amounts against each invoice and vendor  . The user’s purchase data can be in any format ( that is, the tool do...

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Security services under GST law – Transition to RCM

Security service is a service wherein a person supplies security personnel to another person for a consideration. In the erstwhile Service tax regime, security services provided by individual, HUF or partnership firm to a body corporate were covered under Reverse Charge Mechanism (RCM). However, with the enactment of Goods & Services ...

Read More

Bihar relaxes e-way bill requirement

Notification No. S.O. 14 (14/01/2019)

The e-way bill in respect of movement of goods originating and terminating in the State of Bihar shall not be required to be generated where the consignment value does not exceed One Lac Rupees...

Read More

Reg. Exemption from payment of late fee for delayed profession tax payment in Maharashtra

Trade Circular No. 6T of 2019 (14/01/2019)

If it is found that the employer has not fulfilled the conditions or has submitted false information to avail the benefit of exemption then, his exemption of late fee shall be revoked and action will be taken against him as per the provisions of law....

Read More

Revision in Criteria for Withdrawal of pending MVAT Assessment Proceeding

No. VAT-1518/CR 23/Taxation-1 (11/01/2019)

Amendment to MVAT Notification-Criteria for Withdrawal of pending Assessment Proceeding,-Criteria as decided by Commissioner FINANCE DEPARTMENT Madam Cama Marg, Hutatma Rajguru Chowk Mantralaya, Mumbai 400 032, dated the 11th January 2019 NOTIFICATION MAHARASHTRA VALUE ADDED TAX ACT, 2002. No. VAT-1518/CR 23/Taxation-1.— In exercise of ...

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जीएसटी एक्सपर्ट सुधीर हालाखंडी के साथ एक इंटरव्यू- जीएसटी का 18 माह का सफ़र

भारत में लगने वाले जीएसटी के बारे में सोचे तो कभी –कभी एक नाम आता है जहन में और वो नाम है जीएसटी एक्सपर्ट सुधीर हालाखंडी का . आइये आज...

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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.