GST - Page 1434

GST Council meeting inconclusive, state FMs to meet on Nov 20

Second day of meeting of GST Council remained inconclusive and state FM s to meet on November 20, 2016 to further discuss and sort out the differences-...

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Procedure for enrollment of existing VAT Dealers on GST System Portal

ll registered Dealers under VAT or their Authorized Representatives should visit their respective Ward offices between 09/11/2016 to 11/11/2016 and collect sealed envelope containing their provisional ID and Password for use in completing online pre-registration under GST....

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Finalisation of Most Awaited GST Rates

Goods and Service Tax Rates have been finalised by the GST council. 3rd November 2016 is the date for the finalisation of the applicable rates under most awaiting regime, ...

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All about Prosecution under Model GST Act

I herewith draw attention of readers to Sec 73(1) of Model GST Act, 2016 (MGST) that lists out activities, which warrants for prosecution and note that this section begins with “Whoever Commits…...

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GST Council fixes four-tier rate structure at 5%, 12%, 18% & 28%

Moving swiftly on the road to formalising the biggest reform of the indirect tax regime, the Goods and Services Tax (“GST”) Council on November 3, 2016, has decided four-tier GST tax structure of 5, 12, 18 and 28%, with zero rate for essential items and the highest for luxury and de-merits goods that would also attract an additional c...

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GST- One Nation, One Tax, Four Rates Finalised

In its meeting on 03rd November 2016 GST Council has finalised Four GST Rates of 5%, 12%, 18% & 28% which will be levied on Various good post implementation of GST....

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Registration, Amendment and Cancellation under GST Law

Every person who is registered under the earlier law shall be issued provisional Number and after submission of requisite documents , GSTIN shall be issued as prescribed....

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How Will GST Impact on Education Services

According to the Model law on GST which neither contains the exemptions nor the rates of taxation as of now, it appears that all services in relation to coaching and training would be subject to levy of GST as the scope of ‘service’ is very wide. ...

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Chartered Accountants Monopoly to practice GST Law is Undesirable

To amend Section 42(4) of the Model GST Act in such a manner that the term ‘audit of accounts’ should be replaced with the words ‘compliance report’ and the GST Practitioner, Advocate, Cost Accountant, Company Secretary and Chartered Accountant be allowed to certify the said ‘compliance report’....

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Remove anomalies before imposing GST across sectors

Sharp anomalies in taxation rates and structure across different industries such as telecom, tobacco, textiles, food processing and tourism, should be addressed to as the country moves in a transition period for implementing the Goods and Services Tax...

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June 2021