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Goods and Services Tax : Learn the proper method to calculate refunds under Rule 89(4) of CGST Rules for zero-rated supplies, based on CBIC clarifications ...
Goods and Services Tax : Rule 86B of CGST mandates at least 1% of GST liability paid in cash to curb ITC misuse. Learn about its provisions, exceptions, an...
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Goods and Services Tax : Get an in-depth Analysis of Central Goods and Services Tax (Second Amendment) Rules, 2023 with GST Notification No. 38/2023. Lear...
Goods and Services Tax : This article have updated Central Goods and Services Tax Rules, 2017 / CGST Rules, 2017, which were initially released on 19th Jun...
Goods and Services Tax : Association of Tax Practitioners, Ernakulam has made a representation to Principal Commissioner (GST) and highlighted Difficulty f...
Goods and Services Tax : AIMTPA has made a representation to Smt. Nirmala Sitharaman, Finance Minister and discussed prevailing Issues in GST and their pro...
Goods and Services Tax : CBIC has issued one GST Instruction, Two IGST Notifications, 6 CGST Notifications and one UTGST Notification on 24th June 2020. No...
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 : Finance Ministry issues Fourth Amendment to CGST Rules 2025 introducing e-registration, new Rule 14A, and updated GST forms effect...
Goods and Services Tax : The Ministry of Finance has notified the implementation dates for specific provisions of the GST Amendment Rules, 2024. Key rules ...
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...
Goods and Services Tax : Explore the latest GST notification (04/2024) outlining a special procedure for manufacturers of specific goods. Learn about regis...
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...
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.
Every registered person required to furnish the details of outward supplies of goods or services or both under section 37, shall furnish such details in FORM GSTR-1 electronically through the Common Portal either directly or through a Facilitation Centre notified by Commissioner.
In order to give a big relief to MSME sector, government has made a significant reduction in composition rates: Earlier it was proposed to levy 1% composition rate for trader and 2.5% for manufacturer. Further composition scheme was not allowed for a supplier of services.
CBEC has recently released following 8 GST namely 1. Input Tax Credit Rules 2.Valuation Rules 3.Transition Rules 4.Composition Rules 5.Revised Invoice Rules 6.Revised Payment Rules 7.Registration Rules and 8.Refund Rules for comments by general public and other stakeholders on or before 10-April-2017 by email on gst-cbec@gov.in. The Institute of Cost accountants of India has done […]
In order to engage with the stakeholders and invite comments from the public at large, the Centre has issued 8 Goods and Services Tax (GST) Rules viz. Composition Rules, Valuation Rules, Transition Rules, Input Tax Credit (ITC) Rules, Revised Invoice Rules, Revised Payment Rules, Revised Refund Rules and Revised Registration Rules, on April 1, 2017.
