Goods and Services Tax - Page 4

Doubts of tax invoice and delivery challan under GST?

GST (Goods and Service Tax) is four year old now and right from its inception we have seen lot of changes and amendments in the law. Now, most of the taxpayers are familiar with GST Laws, processes and procedures in GST and are moving smoothly as it becomes older and more streamlined. The present article […]...

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Difference of opinion on Taxability of Renting of Immovable Property Services –Advance Ruling Modified

In one of the Advance Rulings for exemption in taxability of renting of immovable services, there was a difference of opinion between members. However, as per section 101 of CGST Act, 2017, the Appellate Authority modified the ruling. In this case, the applicant (NDDB) was a statutory body formed under the NDDB Act. Besides providing [&he...

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Clarification regarding extension of limitation under GST Law

Clarification regarding extension of limitation under GST Law in terms of Hon’ble Supreme Court’s Order dated 27th April, 2021 – CBIC has issued a Circular No 157/13/2021-GST dated 20th July, 2021 clarifying on extension of limitation for various actions under the GST Laws pursuant to Hon’ble Supreme Court’s Order dated 27th...

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Section 16(2)(c) of CGST Act, 2017: A Crippled provision

GST brought many benefits to the businesses and economy of our country. Among all other benefits, one benefit which was emphasized at the time of its introduction was ‘Seamless flow of credit’. Provision under GST Law has been enacted in such a manner to achieve the said objective. However, there is still a need for […]...

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Closure of Private Limited Company in India

1. Parties involved: -Company -Directors -Professionals like CA, CS, Advocate -Company Liquidator -Tribunal -Registrar of Companies (RoC) 2. Procedure for Closing of a Company:  1. Selling of Company Selling off a private company is similar to voluntary winding up. It involves transfer of majority shareholding and transfer of responsibil...

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Unburnt or half-burnt coal and dust attracts 18% GST

In re Jeevaka Industries Private Limited (GST AAR Telangana)

In re Jeevaka Industries Private Limited (GST AAR Telangana) Under which HSN Code should the following goods be classified: The wastes, namely, a. Cinder Half-burnt Coal / Char Dolachar and b. ESP / Bag Filter Dust generated during the process of manufacturing Sponge Iron under DRI process? (1a) & (1b) commodities fall under HSN Code ...

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Time of supply & point of taxation for flats allotted to land owner by builder

In re Vajra Infracorp India Private Limited (GST AAR Telangana)

In re Vajra Infracorp India Private Limited (GST AAR Telangana) 1. Time of supply and point of taxation with respect to flats allotted to land owner by the builder by way of supplementary agreement on 15.05.2017 (i.e., before GST regime) where as the construction will be completed during GST regime. As per Notification No.4/2018 Dt:25.01....

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AAR Telangana allows Ace Urban Infocity to withdraw Application

In re Ace Urban Infocity (GST AAR Telangana)

In re Ace Urban Infocity (GST AAR Telangana) In the reference 1st cited, M/s. Ace Urban Infocity Limited has sought certain clarification by filing an application for Advance Ruling. Through the reference 2nd cited, Deputy Commissioner (STU-3) Hyderabad Rural Division, was requested to go through the attachment and inform the above penden...

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Late Fee & Interest under CGST Act, 2017 with latest Amendments

Section 47 and 50 of CGST Act, 2017 deals with the late fee and interest payable under the CGST Act respectively. The Government introduced some amendments in Section 47 of CGST Act, 2017 to benefit the taxpayers by reducing the maximum cap of late fee. Here in this article, we will deliberate about the recent […]...

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How to Match Input Tax Credit with Books of Accounts under QRMP Scheme

How to match the books of accounts input tax credit balance with GST Credit ledger who opts QRMP scheme. (Assumption that the tax payer will pay the tax on the basis of self-assessment method) Registered tax payer has paid the tax through GST PMT 06 for one month after considering input tax credit available. althotogether […]...

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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.

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July 2021