goods and services tax articles

Updated GST on Goods Rate Rate Chart Updated till 15.11.2017

Updated scheduled CGST rates on goods, as on 15.11.2017 For ease of reference only The CGST rates on certain goods have undergone changes since the introduction of GST. The rate changes are given effect through amending notifications issued from time to time. A need has been felt to publish a consolidated rate schedule in a […]...

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Updated Integrated Goods and Services Tax (IGST) Rules, 2017 till 15.11.2017

Integrated Goods and Services Tax (IGST) Rules, 2017 as updated till 15th November 2017. Integrated Goods and Services Tax (IGST) Rules, 2017 are Notified vide Notification No. 4/2017-Integrated Tax (Dated 28th June 2017) and further amended by Notification No. 12/2017-Integrated Tax (Dated 15th November, 2017) Government of India Ministr...

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A practical analysis- Composition now becomes more attractive

In GST, different tax rates are prescribed for different goods (0, 5%, 12%, 18%, ) whereas a composition dealer has to pay tax at a single fixed rate. Till now, composition rate applicable to traders was 1% and that for manufacturers was 2%. But now it has been decided to revise the rate for manufacturers also to 1%....

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GST: Anti-Profiteering Measures, Are We On Track?

The concept of Anti-profiteering is relatively new in GST, as only two countries - Australia and Malaysia have introduced anti-profiteering mechanism while implementing GST in their countries. Hence, in absence of history, it is difficult to understand exact impact of Anti-profiteering mechanism in GST regime....

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Zero Rated Supplies – How to claim Refunds Manually ?

Supply has been defined as an inclusive definition under GST laws which includes –– 1. All forms of supply of goods or services or both for a consideration include sale, transfer, exchange, rental, lease or disposal made or agreed to be made by a person in the course or furtherance of business; 2. Import of […]...

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Provide option to Revise Form GSTR-3B- 94% Taxpayer demands

We have recently created a poll in which we asked our readers Do you think GST Council should provide option to Revise Form GSTR-3B?  In Response to our poll we got 1165 votes, 88 Replies, 35 Likes and 38 Retweets. Out of total votes 94% of Taxpayers / Tax Professionals in India votes in favour of Option to Revise Form GSTR-3B....

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How to Apply for GST Registration as a Non-resident Taxable Person

What are the steps involved in applying for Registration as a Non-resident Taxable Person on the GST Portal? For registering yourself as a Non-resident Taxable Person on the GST Portal, perform the following steps:...

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12 GST Notifications impacting the business and Trade

Though few of them related to extension of due date for filing of various GST returns which has already come as a new item, the most important ones impacting the business and trade are related to, availability of ITC on exports to Nepal and Bhutan, on documents issued by Insurance companies...

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FAQs for GST Registration by Non-Resident Taxable Person

1. Are there any pre conditions before I can apply for Registration as a Non-Resident Taxable Person?  A Non-Resident Taxable Person must fulfill following conditions so that he/she can register on the GST Portal: 1. Applicant has authorized signatory in India with valid details 2. Authorized Signatory has valid Permanent Account Number...

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FAQs on ethical issues relating to GST

Q1. Whether a member in practice can engage as GST practitioner? A. Yes, a member in practice can engage as GST practitioner , as the activities to be performed by GST practitioner mentioned in CGST Act, 2017 read with CGST Rules, 2017 are within the purview of a member in practice as per the provisions of Chartered Accountants Act, 19...

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