Goods and Services Tax articles

Introduction to VAT in UAE

GCC i.e. Gulf Cooperation Council is a political and economic alliance of six middle eastern countries- Saudi Arabia, Kuwait, UAE, Qatar, Bahrain and Oman. The GCC was established in Saudi Arabia in May 1981. The objective of the GCC is to achieve unity among members based on their common objectives and their similar political and [&helli...

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GST Annual Return: An Overview

Government has announced for annual return to be filed under Goods & Service tax Act. The form of annual GST return is to be filed by every GST registered person including composition taxable person except provided....

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Retrospective amendment in the definition of ‘supply’: A wolf in sheep’s clothing?

GST was introduced with an idea of unification of various indirect taxes focussing only to levy GST on ‘SUPPLY’ of goods or services. Where certain activities or transactions, constitute a supply as per Section 7(1), they shall be treated either as supply of goods or supply of services as referred to in Schedule II...

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Inspection, Search, Seizure and Arrest under Goods & Services Tax

Central Goods and Service Tax authorities who are entrusted with the task of implementation of the GST law enjoy wide and sweeping powers in respect of inspection, search seizure and arrest....

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Does GSTR-9 Annual Return will Transmit Final Rectified Data

Annual return GSTR-9 is much awaited amongst all the suppliers in GST regime due to the belief that all the errors or omission committed during the financial year can be rectified in the annual return i.e. GSTR-9. ...

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GST शास्त्र : Construction sector and section 17 of CGST Act, 2017

A. Introduction to section 17 of CGST Act, 2017 Section 17 of CGST Act, 2017 restricts the availment of Input Tax Credit (ITC) to the extent it is attributable to the purpose of business and to the extent of effecting taxable supplies. Rule 42 and 43 of CGST Rules, 2017 specifies the mechanism of such […]...

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GST Updates for the Month of October 2018

CIRCULARS 1. Notifications Issued under CGST Act, 2017 Regarding Refund to UIN Entities are Applicable To GST (Compensation To States) Act, 2017 Section 55 of CGST Act, 2017 prescribes for refund of taxes paid by specified International Organizations, Foreign Diplomatic Missions or Consular Posts etc on notified supply of goods or service...

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Filing Process of Annual GST Return GSTR-9, 9A and 9C

I) Annual GST Return GSTR-9, 9A and 9C – Provisions under CGST Act, 2017:  1. Section 35(5): Every registered person whose turnover during a financial year exceeds the prescribed limit shall get his accounts audited by a chartered accountant or a cost accountant and shall submit a copy of the audited annual accounts, the reconcilia...

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Diwali With TDS In GST

Article explains Objective of TDS under GST, For whom deduction of TDS under GST is Mandatory, Computation of Value of Supply under contract for TDS,   When TDS under GST is not require to be deducted, Registration as a Deductor of TDS under GST, Return to be filled by Deductor of TDS under GST, Utilisation of […]...

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