Goods and Services Tax : The GST Council at its meeting on May 18, 19 has evolved a consensus on GST rates for goods and services, leading us closer to Jul...
Goods and Services Tax : As per Section 12(6) of CGST Act, 2017 relating to Time of Supply of Goods states that time of supply to the extent it relates to ...
Goods and Services Tax : Since the assessee has the option to take single registration for business verticals within a State, it will be imperative for the...
Goods and Services Tax : At present, the manufacturers/dealers registered under the Central Excise Act, 1944 have the option to surrender their registratio...
Goods and Services Tax : Generally place of supply will be the place of recipient of service, if it is not available then place of supplier of service exce...
Goods and Services Tax (GST), the 122nd Constitutional Amendment Bill, 2014 tabled by Finance Minister Arun Jaitley has already passed in the Lok Sabha. However, due to conflicts between the States and Centre and the reason that the Centre is not having majority in Rajya Sabha;
Already so controversial bill of Goods and Service Tax (GST) had another controversy attached to it when The Empowered Committee (EC) of State Finance Ministers decided to incorporate Goods and Services Tax Network (GSTN), a Section 25 (not-for-profit), non-Government, Private Limited Company to provide IT infrastructure for implementation of GST. The main objective associated with formation of GSTN was creation of database.
The issue regarding leviability of service tax on remuneration paid to the directors has been matter of concern since 07.08.2012 when reverse charge mechanism was introduced vide notification no. 45/2012-ST dated 07.08.2012 for the service tax liability as regards services provided by a director to a company.
History of problems in return utility:- In 2012-2013, the return utility (July-Sept) had the facility of inserting an additional row and mentioning that differential rate of tax; thereby showing the additional tax to be paid in a particular month for a particular service.
Goods and Service Tax (GST) has been a topic of debate in the recent past. With the NDA government looking firm to bring in the GST, the members of Rajya Sabha still have a number of objections to raise, and for their very reasons. Finance Minister Arun Jaitley has been strongly contending that the implementation of GST would remove cascading effect of taxes thereby making way for a business-friendly economy.
Introduction:- This article is an attempt to analyse the amendment made in the rates of basic customs duty applicable for various Iron & Steel Products vide Notification no. 45/2015-Customs dated 12.08.2015. This notification seeks to amend the exemption notification no. 12/2012-Cus dated 17.03.2012 which prescribes exemption from the levy of Basic Customs Duty (BCD) and […]
The introduction of GST along with other government initiatives like the ‘make in India’ programme have the potential to drastically bring down costs, re-define and re-shape the economy of India. The benefits of implementing GST have been much talked but the probable threats have only been popularized as opposition party’s publicity stunts to hamper the implementation of GST.
sometimes the amendments to these provisos bring utter confusion which shivers a particular industry to which the notification relates. This is the exact situation of the textile sector which is being shivered by the recent amendments made in the proviso to notification no. 30/2004-CE dated 9.7.2004. Similar amendments have been made in two more notifications – 1/2011-CE & 12/2012-CE covering a number of other industries too. In this article, an effort has been made to analyze these three amendments and their impact on the industry as a whole.
The relevant date for the purpose of computing the time limit for issuing show cause notice is specified in the Explanation no. 1 for different situations. The clause (i) of the Explanation states that in case where no excise return has been filed by the assessee, the relevant date would be the last date on which such return has been filed.
– This article is an attempt to analyse the impact of amendment made in section 11A of the Central Excise Act, 1944 and section 73 of the Finance Act wherein no show cause notice will be issued if the assessee has self-assessed and declared the duty payable by them in the periodic returns filed by them and recovery proceedings will be initiated without even providing the assessee with the opportunity of being heard.
