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Goods and Services Tax : AIMTPA has made a representation to Smt. Nirmala Sitharaman, Finance Minister and discussed prevailing Issues in GST and their pro...
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Goods and Services Tax : Extract of Rule 142A of Central Goods and Service Tax Rules, 2017 as inserted vide Notification No. 60/2018-Central Tax Dated 30th...
Goods and Services Tax : Delhi High Court held that rule 89(4) of the Central Goods and Services Tax Rules, 2017 applies only in case of zero rated supply ...
Income Tax : Rule 90(3) read with the Circular dated 18.11.2019 providing for fresh application after deficiency memo to also be filed within l...
Goods and Services Tax : The Kerala High Court, in M/S Indus Towers Limited Vs. The Assistant State Tax Officer, held that the power of detention contempla...
Goods and Services Tax : Explore the latest amendments to the Central Goods and Services Tax Rules 2017 with Notification No. 12/2024. Detailed analysis on...
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Goods and Services Tax : Central Goods and Services Tax (Fourth Amendment) Rules, 2022 – CBIC omitted following GST Rules 122,124,125,134 and 137 vi...
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Goods and Services Tax : Due date for furnishing annual return in FORM GSTR-9 & self-certified reconciliation statement in FORM GSTR-9C for the financi...
In order to engage with the stakeholders and invite comments from the public at large, recently, the Central Government has issued 3 more Draft Goods and Services Tax (“GST”) Rules viz. Draft GST Rules on Accounts & Records, Appeals & Revision and Advance Ruling, on April 19, 2017, making a total of 14 Draft Rules as on date.
ACCOUNTS AND RECORDS – 1. Maintenance of accounts by registered persons- (1) Every registered person shall keep and maintain, in addition to the particulars mentioned in sub-section (1) of section 35, a true and correct account of the goods or services imported or exported or of supplies attracting payment of tax on reverse charge along with relevant documents, including invoices, bills of supply, delivery challans, credit notes, debit notes, receipt vouchers, payment vouchers, refund vouchers and e-way bills.
Advance Ruling -1. Qualification and appointment of members of the Authority for Advance Ruling. The Central Government and the State Government shall appoint an officer having the experience of not less than three years in the rank of Joint Commissioner as member of the Authority for Advance Ruling.
An appeal to the Appellate Authority under sub-section (1) of section 107 of the Act shall be filed in FORM GST APL-01, [either] electronically [or otherwise] as may be notified by the Commissioner, and a provisional acknowledgement shall be issued to the appellant immediately.
On 14th of April, the CBEC released Electronic Way (e-way) Bill Rules in public domain. Some significant provisions with reference to E-Way bill are as follows: 1. Furnishing of information before commencement of movement of goods:
The Honorable President of India has already given his assent to four supporting legislations on GST i.e. CGST, IGST, UTGST and Compensation Cess after getting it passed by both the houses of parliament paving the way of rollout of GST from 1st July 2017.
GST rule on E-Way requires furnishing of information relating to any goods worth more than Rs. 50,000 whether they intend to move within the state or Inter-state.
In GST regime where E-Way bill will be issued, which will cause smoother movements of goods from one place to another. E way bill will be a document generated from GSTN portal, which will carry unique identification number know as E-way Bill number (EBN), which will have all the details of the transaction and it will also create appropriate trail so that the transaction can be traced from its inception to the end.
1. Information to be furnished prior to commencement of movement of goods and generation of e-way bill (1) Every registered person who causes movement of goods of consignment value exceeding fifty thousand rupees —(i) in relation to a supply; or (ii) for reasons other than supply; or
Every registered person requesting for payment of tax on a provisional basis in accordance with the provisions of sub-section (1) of section 60 shall furnish an application in FORM GST ASMT-01, along with the documents in support of his request, electronically through the Common Portal, either directly or through a Facilitation Centre notified by the Commissioner.
