CGST articles

GST Series Part 8- Valuation of Taxable Supply | Section 15 | CGST Act, 2017

1. The term ‘Valuation’ is significant under the GST Act as it will determine the amount of tax to be paid by the supplier of the goods or/and services. Section 15 of the CGST Act 2017 talks about the valuation of the supply of goods or/and services supplied in different circumstances and to a different […]...

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GST Implications on Hotels & Restaurant Industry

Indian tourism industry is a major contributor to the Indian Economy, and it is expected that it will grow at a higher pace in times to come and become a major revenue earning industry for the Government. Hotels and restaurants are a major component of the tourism industry and can be termed as the backbone […]...

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HC Judgement in Respect to Section 73 & 74 | CGST Act 2017

In this article I am going to share you three important Judgments rather Tools which you can refer for filing your reply in response to notices under Section 73 and Section 74 of CGST Act, 2017which will be useful for you to complete the Proceedings....

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GST Series–Part 2 Supply-Section 7 of CGST Act 2017

The concept of ‘supply’ is the key stone of GST architecture. Section 7 of CGST Act read with Schedule I & III covers the provisions relating to the term ‘Supply’. The concept of supply along with related issues have been discussed in this article. Also Read- GST Series: Part 1 Section 3 to Section 6 […]...

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Intricacies of rule 36(4) of CGST Rules, 2017

1. Input tax credit to be availed by a registered person in respect of invoice or debit note, the details of which have not been uploaded by the supplier under section (1) of section 37 shall not exceed 20% of the ELIGIBLE CREDIT available in respect of invoices or debit notes, the details of which […]...

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Amendment by Finance Act, 2020 in Schedule II of CGST Act, 2017-

To start with an amendment made in Para 4 of Schedule II by Finance Act, 2020, let’s start discussing with Section 7 of CGST Act (Scope of Supply) . Schedule II of CGST Act, 2017 specifies Activities or Transactions to be treated as Supply of Goods or Services. Section 7 of CGST Act 2017– Scope […]...

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Concept of TCS under GST | Section 52 of CGST Act, 2017

TCS [TAX COLLECTION AT SOURCE] {Section 52 of CGST Act, 2017} Objective behind introduction of TCS: – refers to the Tax which is collected by the Electronic Commerce Operator when a supplier supplies some goods or services through its portal and the payment for that supply is collected by the Electronic Commerce Operator (ECO). Sect...

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Detention, seizure & release of goods & conveyances in transit under GST

Section 129 CGST ACT, 2017 Detention, seizure and release of goods and conveyances in transit (1) Notwithstanding anything contained in this Act, where any person transports any goods or stores any goods while they are in transit in contravention of the provisions of this Act or the rules made thereunder, all such goods and conveyance [&h...

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Reversal of ITC attributable exempt supplies under Rule 42/43 of CGST Rules, 2017

Sec 17(2) of the CGST Act, 2017 provides that where the goods or services are used partly for effecting taxable supplies (including zero rated) and partly for exempt/ non-business use then the amount of credit as attributable to exempt supplies or non-business use shall be reversed as per Rule 42/43 of the CGST Rules, 2017....

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How to Pay GST Demand and Taxes in Installment

How to Pay GST Demand and Taxes in Installment –Section 80 of CGST Act 2017 Dear readers, after the implementation of GST Act, many dealers has done mistake in complying with GST law, due to unawareness of law or due to mala fide intention. When they come to the notice of department, the department will […]...

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June 2020