GST

Pure Agents are in Cross Fire between GST and Income Tax

Goods and Services Tax - In this brief write up we will try to look into the issues with respect to GST implications on pure reimbursable expenses incurred by the pure agent on behalf of his principal....

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Export under GST: Eligible for LUT may apply for release of Bond

Goods and Services Tax - Export under GST : Eligible for LUT vide  Notification No. 37/2017-Central Tax dated 4th October, 2017 may apply for release of Bond. Initially, the option to furnish LUT in place of Bond was available only to the eligible registered person as specified in Notification No. 16/2017- Central Tax dated 7th July, 2017 However, vide Notificat...

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GST: Good and Simple Tax – Lets Analyse

Goods and Services Tax - Goods and Services Tax (GST) is an indirect tax (or consumption tax) levied in India on the supply of goods and services. GST is levied at each and every step in the production process, but is refunded to all parties in the chain of production other than the final consumer. The tax came into effect from July 1, 2017 through the implementa...

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GST: Joint Development Agreements (JDAs) : Real Estate in a Fix, Confusion Costs Consumers

Goods and Services Tax - Joint Development Agreements or JDAs are a common feature in the real estate sector wherein the land owner transfers the land to the real estate developer and gets flats, a certain amount of revenue or a combination of both in return. In JDA, the Developer enters into a Development Agreement with Landowner, whereby...

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Comparative summary of key 21 GST amendments as passed by Lok Sabha

Goods and Services Tax - To iron out the practical hindrances and issues being faced by the Industry Inc since the implementation of GST, the Lok Sabha, on August 9, 2018, has passed the following amendment Bills to the GST Law: Central Goods and Services Tax (Amendment) Bill, 2018 [CGST Amendment Bill] amending the CGST Act, 2017 [CGST Act]; Integrated […...

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GST collection shown upward trend since April, 2018

Goods and Services Tax - In the absence of any past precedent, it shall be difficult to compare the GST revenue collection with the corresponding months of the previous years due to a number of factors like overlap of taxpayers pre and post introduction of GST, variation in exemption limits between Centre and States and among States and mechanism of apportionment...

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GST Compensation to States

Goods and Services Tax - Government has compensated to the States/UTs for the reported revenue deficit on account of implementation of Goods and Services Tax (GST). As per provisions in Section 7 of the GST (Compensation to States) Act, 2017 loss of revenue to the States on account of implementation of Goods and Services Tax shall be payable during transition [&h...

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Impact and Awareness of GST

Goods and Services Tax - Steps taken by the Government to increase awareness about the features of Goods and Services Tax (GST) are as follows: i. conducting workshops and seminars regularly across the country, ii. posting of laws, rules, notifications and other information on the departmental website, iii. placing of Frequently Asked Questions (FAQs) and topic-w...

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CBIC compare data in FORM GSTR-1 and FORM GSTR-3B

Goods and Services Tax - Comparison of data in FORM GSTR-1 and FORM GSTR-3B is being done by GSTN for tax liability analysis. Reports based on such analysis are being shared with tax authorities for taking necessary action....

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Join 4 day GST Certified Practitioner course of Ministry of M.S.M.E.

Goods and Services Tax - Hurry Up!! JOIN 4 day GST CERTIFIED PRACTITIONER course of Ministry of M.S.M.E. at Mumbai, New Delhi, Agra,  Chennai, Coimbatore, Bangalore, Kolkata, Indore, Pune, Hyderabad, Cochin, Trichy and Jaipur in August 2018 and September 2018 starting from 18th August 2018. WHAT THE GST CERTIFICATION COURSE AIMS AT? The Course aims to facilitate...

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GST Payable on Services to foreign universities relating to enrollment of students from India: AAAR

In re Global Reach Education Services Pvt Ltd (GST AAAR West Bengal) - This Appeal has been by filed M/s Global Reach Education Services Private Limited, holding GSTIN 19AAGCG0859E1ZK (hereinafter referred to as the Appellant), on 16.04.2018 against the Ruling dated 21.03.2018 pronounced by the West Bengal Authority for Advance Ruling....

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Supply of UPS with battery is a composite supply: AAAR

In re Switching Avo Electro Power Limited (GST AAAR West Bengal) - In re Switching Avo Electro Power Limited (GST AAAR West Bengal) Whether UPS with battery is a composite supply? There is no denying of the fact that an in-built battery of static converter (UPS) is part and parcel of the uninterrupted power supply system and is covered under Tariff Head 8504 and in...

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Block joining mortar is classifiable under heading 3824 of CTA, 1975: AAAR

In re Sika India Private Limited (GST AAAR West Bengal) - `SIKA Block Joining Mortar' is non-refractory and that it is not used for preparation of surfaces. Considering the nature, use and commercial identity of the item in question and, notwithstanding the Appellant's earlier voluntary declaration about the classification of the item, we are not inclined ...

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Extend GST Registration time for delay due to unavoidable circumstances: HC

MGI Infra (P.) Ltd. Vs Assistant Commissioner, State Goods & Service Tax (Calcutta High Court) - Although the petitioner enjoys provisional registration, the final registration could not have done as the office of the petitioner is located at a very remote area. Such area had faced various political problems over a considerable period of time, preventing the petitioner from taking appropriate s...

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Release goods on submission of bank guarantee for GST & penalty and bond for value of goods: HC

Garuda Timber Traders Vs The Assistant State Tax Officer (Kerala High Court) - Garuda Timber Traders Vs The Assistant State Tax Officer (Kerala High Court) Once the petitioner provides the bank guarantee for the tax and penalty and bond for the value of goods, under Rule 140 of the Rules, it will have the goods provisionally released. Besides, the petitioner can challenge the ...

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Draft circular on removal of restriction on ITC refund on fabrics

F. No. 354/290/2018-TRU - Certain doubts have been raised regarding the applicability and intent of notification No. 20/2018-Central Tax (Rate) dated 26th July, 2018 (which seeks to amend notification No. 5/2017-Central Tax (Rate) dated 28.06.2017) relating to the provision for lapsing of input tax credit on account of inver...

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GST on services provided by Industrial Training Institutes (ITI)

Circular No. 55/29/2018- GST - (10/08/2018) - CBIC clarifies vide CIRCULAR No. 55/29/2018- GST on (a) Whether GST is payable on vocational training provided by private ITIs in designated trades and in other than designated trades. and on (b) Whether GST is payable on the service, provided by a private Industrial Training Institute for conduct o...

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5% GST on fertilizers supplied for use in manufacture of other fertilizers

Circular No. 54/28/2018-GST - (09/08/2018) - It is clarified that the fertilizers supplied for direct use as fertilizers, or supplied for use in the manufacturing of other complex fertilizers for agricultural use (soil or crop fertilizers), will attract 5% GST....

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FORM GSTR-3B to continue till March, 2019- CBIC notifies due date

Notification No. 34/2018–Central Tax [G.S.R. 761(E)] - (10/08/2018) - CBIC prescribe the due dates for filing FORM GSTR-3B for the months from July, 2018 to March, 2019 vide Notification No. 34/2018–Central Tax dated 10th August, 2018...

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Due dates to file GSTR-1 -Turnover upto Rs.1.5 Crore- July 2018 to March 2019

Notification No. 33/2018–Central Tax [G.S.R. 760(E)] - (10/08/2018) - CBIC prescribes due dates for quarterly furnishing of FORM GSTR-1 for those taxpayers with aggregate turnover of upto Rs.1.5 crores for the period from July, 2018 to March, 2019 vide Notification No. 33/2018–Central Tax dated 10th August, 2018...

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Recent Posts in "GST"

Pure Agents are in Cross Fire between GST and Income Tax

In this brief write up we will try to look into the issues with respect to GST implications on pure reimbursable expenses incurred by the pure agent on behalf of his principal....

Read More

Export under GST: Eligible for LUT may apply for release of Bond

Export under GST : Eligible for LUT vide  Notification No. 37/2017-Central Tax dated 4th October, 2017 may apply for release of Bond. Initially, the option to furnish LUT in place of Bond was available only to the eligible registered person as specified in Notification No. 16/2017- Central Tax dated 7th July, 2017 However, vide Notificat...

Read More

Draft circular on removal of restriction on ITC refund on fabrics

F. No. 354/290/2018-TRU

Certain doubts have been raised regarding the applicability and intent of notification No. 20/2018-Central Tax (Rate) dated 26th July, 2018 (which seeks to amend notification No. 5/2017-Central Tax (Rate) dated 28.06.2017) relating to the provision for lapsing of input tax credit on account of inverted duty structure on fabrics for the pe...

Read More

GST: Good and Simple Tax – Lets Analyse

Goods and Services Tax (GST) is an indirect tax (or consumption tax) levied in India on the supply of goods and services. GST is levied at each and every step in the production process, but is refunded to all parties in the chain of production other than the final consumer. The tax came into effect from July 1, 2017 through the implementa...

Read More

GST: Joint Development Agreements (JDAs) : Real Estate in a Fix, Confusion Costs Consumers

Joint Development Agreements or JDAs are a common feature in the real estate sector wherein the land owner transfers the land to the real estate developer and gets flats, a certain amount of revenue or a combination of both in return. In JDA, the Developer enters into a Development Agreement with Landowner, whereby...

Read More

Comparative summary of key 21 GST amendments as passed by Lok Sabha

To iron out the practical hindrances and issues being faced by the Industry Inc since the implementation of GST, the Lok Sabha, on August 9, 2018, has passed the following amendment Bills to the GST Law: Central Goods and Services Tax (Amendment) Bill, 2018 [CGST Amendment Bill] amending the CGST Act, 2017 [CGST Act]; Integrated […...

Read More

GST Payable on Services to foreign universities relating to enrollment of students from India: AAAR

In re Global Reach Education Services Pvt Ltd (GST AAAR West Bengal)

This Appeal has been by filed M/s Global Reach Education Services Private Limited, holding GSTIN 19AAGCG0859E1ZK (hereinafter referred to as the Appellant), on 16.04.2018 against the Ruling dated 21.03.2018 pronounced by the West Bengal Authority for Advance Ruling....

Read More

Supply of UPS with battery is a composite supply: AAAR

In re Switching Avo Electro Power Limited (GST AAAR West Bengal)

In re Switching Avo Electro Power Limited (GST AAAR West Bengal) Whether UPS with battery is a composite supply? There is no denying of the fact that an in-built battery of static converter (UPS) is part and parcel of the uninterrupted power supply system and is covered under Tariff Head 8504 and intra-State supply thereof […]...

Read More

Block joining mortar is classifiable under heading 3824 of CTA, 1975: AAAR

In re Sika India Private Limited (GST AAAR West Bengal)

`SIKA Block Joining Mortar' is non-refractory and that it is not used for preparation of surfaces. Considering the nature, use and commercial identity of the item in question and, notwithstanding the Appellant's earlier voluntary declaration about the classification of the item, we are not inclined to accept its classification under Tarif...

Read More

Extend GST Registration time for delay due to unavoidable circumstances: HC

MGI Infra (P.) Ltd. Vs Assistant Commissioner, State Goods & Service Tax (Calcutta High Court)

Although the petitioner enjoys provisional registration, the final registration could not have done as the office of the petitioner is located at a very remote area. Such area had faced various political problems over a considerable period of time, preventing the petitioner from taking appropriate steps with regard to obtaining of final r...

Read More
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