Goods and Services Tax articles

My 3 years with GST

Concept of GST was proposed by Atal Bihari Vajpayee government in 2000, but it took nearly 17 years for GST to come into existence. Major task to bring constitutional amendment and put majority of states on one table was easy for the lawyer turned Finance Minister Arun Jaitely and team of his experienced bureaucrats. Further […]...

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Compulsory GST Registration | Section 24 | CGST Act 2017 |GST Series Part 16

Compulsory GST Registration | Section 24 | CGST Act 2017 |GST Series Part 16 1. As per section 24(1) of the CGST Act 2017, the following categories of persons are required to be registered, even if their aggregate turnover is below specified threshold limit and are exempt from registration under section 22(1). 2. Section 24(i): […]...

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GST Applicable on Sale of Plot of Land with Amenities- GAAR

[ADVANCE RULING NO. GUJ/GAAR/R/2020/11 dated 19.05.2020] It has come into knowledge that an Application under Section 97(2) of CGST Act, 2017 was filed on 18.08.2018 by one Shree Dipesh Anilkumar Naik, an unregistered person, before The Gujarat Authority for Advance Rulings (GAAR). The applicant has seeking an advance ruling in respect of...

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Interest on delayed payment of GST | Section 50 | CGST Act 2017

Simplified GST series- Section 50/CGST Act 2017 Section 50- Interest on delayed payment of tax (GST) (1) Every person who is liable to pay tax in accordance with the provisions of this Act or the rules made there under, but fails to pay the tax or any part thereof to the Government within the period […]...

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GST – Cancellation and Revocation of Registration

The registration granted under GST can be cancelled for specified reasons. The cancellation can either be initiated by the department or the registered person or the legal heirs in case of death of registered person. In case the registration has been cancelled by the department there is a provision for revocation of the cancellation of [&...

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GST Advance Rulings should be Judicious…

‘Advance ruling’ means a decision provided by the Authority or the Appellate Authority to an applicant on matters or on questions specified in sub-section (2) of section 97 or subsection (1) of section 100 of the CGST Act, 2017, in relation to the supply of goods or services or both being undertaken or proposed to […]...

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All about GST Refunds | A Reference Manual | Version 2.0 | 1st July 2020

All about GST Refunds | A Reference Manual | Version 2.0 | 1st July 2020 is issed by DGTS – CBIC, Bengaluru & CGST (GST), Bengaluru Zone. The information in this Reference Manual is intended only to provide a general overview and is not intended to be treated as legal advice or opinion. For greater […]...

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Weather rule 42 is to be applied while availing ITC of the tax paid under RCM

Rule 42 is considered as a one of the most complex concept in a GST. Rule 42 of the CGST Rules, 2017 envisages about the ‘manner of determination of input tax credit in respect of input and input service’. Before coming to the topic let’s take a brief of the roots. Section 17(1) of the […]...

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Amended Rule 43 calls for higher reversal of ITC on account of conversion of Capital Goods into Common use

 [Amendment in Rule 43 of CGST Rules, 2017 vide Notification No. 16/2020 – Central Tax dated 23rd March, 2020] The need of these provisions arises when taxable person avails input tax credit in respect of CAPITAL GOODS & provides supplies being partly used for the purposes of business and partly for other purposes, or partly used ...

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Applicability of GST on sale of plot of land

1. Indirect tax in construction industry is an age old concept which has deep roots thereby testing it applicability at regular intervals. Accordingly, it can be established that VAT was payable on transfer of property during handover of flats, service tax was payable for rendition of the construction activity, central excise was not paya...

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