GST

Co-relation between MVAT audit report and GST !

Goods and Services Tax - Arjuna, In the financial year 2017-18, 3 months were of Vat while the remaining 9 months were of GST. Therefore, taxpayers would be required to get their books audited as per their Turnover under both the laws. Hence while finalizing financials taxpayers might face problems. So let us discuss on the same....

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Suggestions on Form GSTR 9C- Reconciliation statement & Certification

Goods and Services Tax - We refer to the Form GSTR 9C Reconciliation statement & Certification notified vide Notification No. 49/2018- Central Tax dated 13th September, 2018. In this regard, we consider it a privilege to submit herewith ICAI's suggestions thereon. The suggestions have been finalized based on the inputs received from members across India who are i...

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Incentive Vs. Subsidy under GST

Goods and Services Tax - Section 15(2)(e):- Value of Supply shall include subsidies directly linked to the price excluding subsidies provided by the Central Government and State Governments. An Incentive is something that motivates an individual to perform an action. The study of incentive structures is central to study of all economic activities (both in terms o...

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डीलर्स और प्रोफेशनल्स अब थकने लगे है, जीएसटी सरलीकरण और सिस्टम सुधार एक बहुत बड़ी जरुरत

Goods and Services Tax - इस समय भी जीएसटी सिस्टम सही से काम नहीं कर रहा है और रिटर्न भरनी की अंतिम तिथी जब भी होती है तब यह सिस्टम फ़ैल हो जाता है लेकिन अभी हाल...

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How to Engage / Disengage GST Practitioner

Goods and Services Tax - A. FAQs on Engage/Disengage GST Practitioner Q.1 Can I engage GST Practitioner from a different state? Ans: Yes, you can engage GST Practitioner from a different state. However, when searching for inter-state GSTPs, search criteria will auto-fill the Taxpayer’s default state, district and pin code in respective fields. The Taxpayer will...

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JOIN 4 day GST Practitioner Advanced Certified Training course of MSME

Goods and Services Tax - JOIN 4 day GST Practitioner Advanced Certified Training course of Ministry of M.S.M.E. at Indore, Jaipur, Hyderabad, Bangalore, Kolkata, Cochin, Gurgaon, Kolhapur, Goa, Trichy, Pune, Agra, New Delhi, Mumbai, Chennai and Coimbatore in December 2018 and January 2019 starting from 22 December 2018. BROCHURE FOR GST PRACTITIONER ADVANCED CERT...

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Learn GST in a Practical Way- Join Online GST Certification Course

Goods and Services Tax - Due to overwhelming response and feedback from previous batches, TaxGuru, GST Professionals and Govt. of India (Ministry of M.S.M.E) announces its Jan’ 2019 Batch for Advanced Online GST Certification Course. Learn GST in a Practical way and become an Expert in this field....

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Extend due date of filing Form GSTR 9 & 9C: ICAI

Goods and Services Tax - We would like to draw your attention to the fact that around 90 Lacs registered persons are required to furnish the Annual Return in Form GSTR 9 and out of them approximately 20 lacs would be required to submit the Reconciliation Statement in Form GSTR - 9C before the due date i.e. 31st December 2018. ...

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Average GST collection for FY 2018-19 is Rs. 97,040 crore

Goods and Services Tax - Goods and Services Tax Collections The month-wise gross collection of Central Goods and Services Tax (CGST), State Goods and Services Tax (SGST), Integrated Goods and Services Tax (IGST) and Cess for FY 2017-18 and FY 2018-19 are as under:   Month GST collection (in Rs. Crore)       2017-18 2018-19 April — 1,03,459 May […...

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Govt identifies GST evasion of Rs. 12766.85 Crore

Goods and Services Tax - Suspected GST Evasion amounting to Rs. 12766.85 has come to the light till the month of November, 2018. An amount of Rs. 7909.96 Cr. has been recovered during the period April 2018 to November 2018. The State-Wise details of detection of GST Evasion cases and recovery are as under:...

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Slump sale of business as going concern to related party qualifies as supply

In re Merck Life Science Private Limited (GST AAR Maharashtra) - Seller has agreed to sell, transfer, convey, assign and deliver to the applicant or to any affiliates as directed by applicant for the BPL business which would be transferred as a slump sale on going concern basis. BPL business means BP business, LS Business and PM business as going concern as outli...

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No profiteering if no decrease in Tax Rate & no increase in profit Margin

Shri Shylesh Damodaran Vs Landmark Automobiles Pvt. Ltd. (National Anti-Profiteering Authority) - Shri Shylesh Damodaran Vs Landmark Automobiles Pvt. Ltd. (National Anti-Profiteering Authority) It is clear from the plain reading of Section 171 (1) that it deals with two situations one relating to the passing on the benefit of reduction in the rate of tax and the second pertaining to the passing ...

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GST payable on commission from website users, pundits or Brahmins

In re Sadashiv Anajee Shete (GST AAR Maharashtra) - In re Sadashiv Anajee Shete (GST AAR Maharashtra) In the present case we find that applicant and recipient are not related persons and price received is sole consideration. We further see that these services are given by the applicant in his business models to choose the type of model. In all the th...

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AAR: GST Rate on Chapatti, Corn Chips, Paratha, Naan,Pizza Bread base etc

In re Signature International Foods India Private Limited (AAR Maharashtra) - The Unleavened Flatbreads products such as plain chapatti, Tortilla, Tortilla Wraps, roti, Roti rolls, Wraps, Paratha and Paratha wraps are covered under Entry No. 99 A of Schedule I and they would be liable to tax @ 5% (2.5 % each for CGST and MGST and 5 % for IGST)....

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Anti-profiteering provisions not attracted if no GST tax rate reduction

State Level Screening Committee on Anti-Profiteering Vs Zeba Distributors (National Anti-Profiteering Authority) - State Level Screening Committee on Anti-Profiteering Vs Zeba Distributors (National Anti-Profiteering Authority) As there was no reduction in the rate of tax on the Eastern Meat Masala, hence the anti-profiteering provisions contained in Section 171(1) of the Central Goods and Services Tax Act, 201...

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Revised guidelines relating to works contract under GST

Memorandum No. FIN-CTI-TAX-0045-2017/38535/F - (10/12/2018) - On careful consideration of the representation of the contractors visa-vis existing guidelines issued in the matter, Government have been pleased to issue following revised guidelines in supersession of the guidelines issued vide Finance Department letter dated 07.12.2017:...

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Due date of GST Annual Return / Audit extended to 31st March, 2019

Order No. 1/2018-Central Tax - (11/12/2018) - every registered person, other than an Input Service Distributor, a person paying tax under section 51 or section 52, a casual taxable person and a non-resident taxable person, shall furnish an annual return for every financial year electronically in such form and manner as may be prescribed on or b...

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Clarification on Customs & Central Excise notifications related to EOUs

Circular No. 50/2018-Customs - (06/12/2018) - EOU/EHTP/STP/BTP schemes are governed by Chapter 6 of Foreign Trade Policy (FTP), duly supported by the relevant Customs and Central Excise notifications. These notifications have now been amended in order to align them with the present Foreign Trade Policy (FTP), 2015-2020, as amended...

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Order -Delegation of power under MGST Act, 2017 to State Tax Officers

Notification No. D.C. (A&R)-2/GST/PWR/Sections/2017-18/ADM-8 - (04/12/2018) - Commissioner of State Tax, Maharashtra State is hereby pleased to delegate the powers and duties conferred or imposed upon the Commissioner and assign the functions and duties as proper officer, to all the State Tax Officers,...

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Relief in Penalty for minor discrepancies in e-way bill in Maharashtra

Trade Circular No. 36T of 2018 - (03/12/2018) - Various representations have been received regarding imposition of penalty in case of minor discrepancies in the details mentioned in the e-way bill although there are no major lapses in the invoices accompanying the goods in movement....

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Recent Posts in "GST"

Slump sale of business as going concern to related party qualifies as supply

In re Merck Life Science Private Limited (GST AAR Maharashtra)

Seller has agreed to sell, transfer, convey, assign and deliver to the applicant or to any affiliates as directed by applicant for the BPL business which would be transferred as a slump sale on going concern basis. BPL business means BP business, LS Business and PM business as going concern as outlined in 'Definitions and Interpretations'...

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Co-relation between MVAT audit report and GST !

Arjuna, In the financial year 2017-18, 3 months were of Vat while the remaining 9 months were of GST. Therefore, taxpayers would be required to get their books audited as per their Turnover under both the laws. Hence while finalizing financials taxpayers might face problems. So let us discuss on the same....

Read More

No profiteering if no decrease in Tax Rate & no increase in profit Margin

Shri Shylesh Damodaran Vs Landmark Automobiles Pvt. Ltd. (National Anti-Profiteering Authority)

Shri Shylesh Damodaran Vs Landmark Automobiles Pvt. Ltd. (National Anti-Profiteering Authority) It is clear from the plain reading of Section 171 (1) that it deals with two situations one relating to the passing on the benefit of reduction in the rate of tax and the second pertaining to the passing on the benefit of the […]...

Read More

GST payable on commission from website users, pundits or Brahmins

In re Sadashiv Anajee Shete (GST AAR Maharashtra)

In re Sadashiv Anajee Shete (GST AAR Maharashtra) In the present case we find that applicant and recipient are not related persons and price received is sole consideration. We further see that these services are given by the applicant in his business models to choose the type of model. In all the three business models […]...

Read More

AAR: GST Rate on Chapatti, Corn Chips, Paratha, Naan,Pizza Bread base etc

In re Signature International Foods India Private Limited (AAR Maharashtra)

The Unleavened Flatbreads products such as plain chapatti, Tortilla, Tortilla Wraps, roti, Roti rolls, Wraps, Paratha and Paratha wraps are covered under Entry No. 99 A of Schedule I and they would be liable to tax @ 5% (2.5 % each for CGST and MGST and 5 % for IGST)....

Read More

Anti-profiteering provisions not attracted if no GST tax rate reduction

State Level Screening Committee on Anti-Profiteering Vs Zeba Distributors (National Anti-Profiteering Authority)

State Level Screening Committee on Anti-Profiteering Vs Zeba Distributors (National Anti-Profiteering Authority) As there was no reduction in the rate of tax on the Eastern Meat Masala, hence the anti-profiteering provisions contained in Section 171(1) of the Central Goods and Services Tax Act, 2017 are not attracted. There is also no in...

Read More

Suggestions on Form GSTR 9C- Reconciliation statement & Certification

We refer to the Form GSTR 9C Reconciliation statement & Certification notified vide Notification No. 49/2018- Central Tax dated 13th September, 2018. In this regard, we consider it a privilege to submit herewith ICAI's suggestions thereon. The suggestions have been finalized based on the inputs received from members across India who are i...

Read More

JOIN 4 day GST Practitioner Advanced Certified Training course of MSME

JOIN 4 day GST Practitioner Advanced Certified Training course of Ministry of M.S.M.E. at Indore, Jaipur, Hyderabad, Bangalore, Kolkata, Cochin, Gurgaon, Kolhapur, Goa, Trichy, Pune, Agra, New Delhi, Mumbai, Chennai and Coimbatore in December 2018 and January 2019 starting from 22 December 2018. BROCHURE FOR GST PRACTITIONER ADVANCED CERT...

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No AAR ruling on applicability of GST notification due to insufficient information

In re Madhya Pradesh Pashchim Kshetra Vidyut Vitaran Company Limited (GST AAR Madhya Pradesh)

In re Madhya Pradesh Pashchim Kshetra Vidyut Vitaran Company Limited (GST AAR Madhya Pradesh) We find from the application that the Applicant has made a specific mention of Sr. No.3A to notification no. 12/2017, which provides NIL rate of GST for composite supply of goods and services where the value of supply of goods constitute [&hellip...

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Taxi aggregators to pay GST on services provided by taxi drivers: AAAR

In re OPTA Cabs Private Limited (GST AAAR Karnataka)

In re OPTA Cabs Private Limited (GST AAAR Karnataka) The appellate authority for advance ruling upheld the rulings passed under section 98(4) of the GST Act 2017 vide NO. KAR ADRG 14/2018 dated 27/07/2018 ie the services of transportation of passengers supplied through the Appellant’s electronic platform and digital network would be lia...

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