Goods and Services Tax - Page 20

Hire-purchase and GST ACT

For GST purposes it is necessary to classify correctly agreement involving hire, lease, or bailment of goods. Classification of an agreement as a hire purchase agreement, an agreement to hire or as being outside those ambits, affects the GST treatment of the agreement and consequently the GST liability....

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Input Service Distributor (ISD) | Section 20 & 21 | CGST Act 2017 | GST Series Part 13

1. The concept of Input Service Distributor (ISD) has its roots in the service tax regime. The Head office of an organization obtains services that are common for all the company’s units located across the country. The supplier of such services issues an invoice in the name of the company’s head office. These services are […]...

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Taxability on Director’s Remuneration under Goods & Service Tax

The issue of taxability on director’s remuneration always remain in controversy under the Service Tax as well as Goods and Service Tax Regime. Pointless to say that controversy always arises due to ambiguity in provision and lack of proper clarification....

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Whether Interest Income included in aggregate turnover for GST Registration??

Whether interest income From PPF,Bank saving or other interest & interest on personal Advances are included in aggregate turnover for determining the threshold for GST Registration??? Gujarat AAR Decision: Shree Sawai Manoharlal Rathi (GST AAR Gujarat) In the case of Sawai Manoharlal Rathi, the Gujarat Authority for Advance Ruling ha...

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Interest Income of Pure Personal Nature– ‘Supply’ Under GST?

The AAR Gujrat in case of Shree Sawai Manoharlal Rathi has  held that Interest received from PPF, Interest received from Personal loans and advances to family members and Interest Income from Saving Bank account would be considered for the purpose of calculating the threshold limit of Rs.20.00 Lakh for registration under the GST Law. Thi...

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Section 18- Availability of credit in special circumstances -Simplified

Section 18- Availability of credit in special circumstances -Simplified (1) Subject to such conditions and restrictions as may be prescribed- (a) A person who has applied for registration under the Act within thirty days from the date on which he becomes liable to registration and has been granted such registration shall, be entitled to t...

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Casual Taxable Person under Goods and Service Tax Law

Article explains  about the Casual taxable Person (CTP) under Central Goods and Services Tax Act, 2017. It explains about Meaning of Casual Taxable Person, Documents required for Casual taxable Person GST Registration,  How to Apply for Registration as Casual taxable Person, Extension of Period of Registration, Returns to be Furnished b...

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Psyllium Husk Powder falls under HSN 12119032: AAR

In re Sarda Bio Polymers Pvt. Ltd. (GST AAR Rajasthan)

In re Sarda Bio Polymers Pvt. Ltd. (GST AAR Rajasthan) The applicant is engaged in manufacture of Psyllium Husk Powder in Pali having GST registration number 08AARCS9529A1ZZ. The applicant intends to seek clarification on the classification and rate of GST applicable on the Psyllium Husk Powder. AAR held that Psyllium Husk Powder, a prepa...

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Mehendi /Henna powder falls under Chapter 33; Attracts 18% GST

In re Sunil Kumar Gehlot (Sunil Kumar & Co.) (GST AAR Rajasthan)

In re Sunil Kumar Gehlot (Sunil Kumar & Co.) (GST AAR Rajasthan) The applicant is engaged in manufacture of hair dye powder in Sojat city. The applicant intends to manufacture mehandi/henna powder in future and so wish to seek clarification on the classification and rate of GST applicable on the mehandi/henna powder. AAR held that [&h...

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Fusible Interlining Fabrics of Cotton Falls under HSN Code 5903

In re Ruby Mills Ltd. (GST AAR  Uttarakhand)

In re Ruby Mills Ltd. (GST AAR  Uttarakhand) Whether fusible interlining fabrics of Cotton fall for classification HSN Code 5903 or under chapter 52? On perusal of the Note 2 to Chapter heading 5903 , we find that the said heading covers textile fabrics, impregnated, coated, covered or laminated with plastics. Such products are classif...

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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.

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