IGST

Zero Rated Supply without payment of IGST

CA, CS, CMA - Zero rated supplies are made without payment of tax: - As per Section 16(3) of the IGST Act, 2017, a registered person making zero rated supply is eligible to claim GST refund under either of the following options, namely: Supply of goods or services or both under bond or Letter of Undertaking, subject to such conditions, safeguards and ...

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To “Deliver” or not to “Deliver”? – Section 10 of IGST Act, 2017

CA, CS, CMA - One of the most frequently asked and discussed query under GST by clients and practitioners alike has been the tax implications in the case of scenarios where the billing and shipping addresses are different, or the customer and consignee are two different parties. ...

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Reverse Charge u/s 9(4) of CGST act applicability extended !

CA, CS, CMA - The awaited applicability of section 9(4) of CGST Act, section 5(4) of IGST Act & Section 7(4) of UTGST Act which was exempted earlier till 30.06.2018 has been now further extended again via  notification  given below till 30.09.2018. The exemption contained in this notification shall apply to all registered persons till the 30th da...

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GST on Commission earned in India from Foreign Entities in Convertible Foreign Exchange

CA, CS, CMA - The person earning the commission will falls under this definition. As per IGST Act, Sec. 13(8) - The place of supply of the following services shall be the location of the supplier of services, namely:–...

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7 Post Budget Suggestion on Custom Law by ICAI

CA, CS, CMA - ICAI submitted sugesstion on 1. Levy of Integrated Tax on goods remaining in Bonded warehouse 2. Audit of assessment of imported or exported goods. 3. Power to issue supplementary notice 4. Communication of an order, decision, summon, notice etc. under Customs Act, 1962 through electronic mails. 5. Requirements for being an applicant o...

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Abolish IGST, intra-state E-way bill & bring real estate under GST

CA, CS, CMA - The Centre should abolish IGST and E-way bill to make the Goods and Services Tax more effective, deputy chief minister and finance minister of Delhi government, Mr Manish Sisodia said at an ASSOCHAM event held in New Delhi today....

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Rs. 6,087 crore IGST refund sanctioned in 2nd Special Refund Fortnight

CA, CS, CMA - By the end of 16th June, 2018, Rs.6,087 crore IGST refund has been sanctioned in the refund fortnight. The interesting facts during the second fortnight are (i) about 1,68,191 shipping bills have been processed (ii) IGST refund claims of about 9,293 exporters have been sanctioned including about 3500 new exporters, whose refunds had been ...

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CBEC issues 28 GST Tax Rate Notifications on 25.01.2018

CA, CS, CMA - CBEC has issued  9 UTGST Tax Rate Notification, 10 Integrated Tax (Rate) Notification and 9 Central Tax (Rate) Notifications which in total amount to 27 Notifications to give effect to Changes in GST Rate and its related Provisions as recommended by 25th GST Council Meeting on 18.01.2018. List of Such notifications is as follows :- [&hel...

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CBEC issues 9 New Notifications and 4 New Press Release

CA, CS, CMA - CBEC has issued four Press Release on 22.01.2018 clarifying the Following- GST exemption on ticket price up to Rs. 500 of circus, dance, award etc. wef 25.01.2018 Changes in GST on Housing Sector WEF 25.01.2018 GST on services provided by Resident Welfare Associations wef 25.01.2018 Amendment in GST rate on admission to amusement parks et...

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Budgetary support for cash component of CGST and IGST for eligible industrial units

CA, CS, CMA - Scheme of budgetary support for cash component of CGST and IGST for eligible industrial units for residual period in States of North Eastern region and Himalayan states ...

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GST payable on Overseas Education Advisory to students in India: AAR

In re Global Reach Education Services Pvt Ltd (AAR Kolkata) - The Applicant states that it provides Overseas Education Advisory whereby it promotes the courses of foreign universities among prospective students and wants a ruling on whether the service provided to the Universities abroad is to be considered export within the meaning of Section 2(6) of the Inte...

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GST regime is not tax friendly & GST Website must provide easy access to Taxpayer: Bombay HC

Abicor and Binzel Technoweld Pvt. Ltd. V/s Union of India and Anr. (Bombay High Court) - A tax like Goods and Services Tax was highly publicised and termed as popular. We had yet not seen a celebration of New Tax regime, but that has followed with great hue and cry. These celebrations mean nothing. The special sessions of Parliament or special or extraordinary meetings of Council would ...

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GST: HC cannot entertain an appeal in respect of classification issues or matters concerning tax rate

M/s. Jaap Auto Distributors Vs. The Assistant Commissioner of Customs (Madras High Court) - M/s. Jaap Auto Distributors Vs Assistant Commissioner of Customs (Madras High Court) A Writ Court cannot make a fact finding exercise to ascertain, which would be an appropriate entry under which the goods are to be classified. In fact, under the normal course in respect of classification disputes, ...

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IGST on Services Provided to Head Office abroad challenged in HC

DBS Bank Limited India Branches Vs Union of India & Anr (Delhi High Court) - Notice. Mr. Sanjeev Narula, the learned CGSC accepts notice for Respondent No.1 and Mr. Harpreet Singh, Sr. Standing Counsel accepts notice for Respondent No.2. Reply be filed on or before 17th October, 2017 and rejoinder, if any, be filed before the next of hearing....

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GST on legal services lacks clarity and creating doubts: Delhi HC

J K Mittal & Company Vs. Union Of India & Ors. (Delhi High Court) - In this case Delhi High Court held that as of date there is no clarity on whether all legal services (not restricted to representational services) provided by legal practitioners and firms would be governed by the reverse charge mechanism. ...

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Reverse charge mechanism u/s 5(4) of IGST Act suspended till 30.09.2018

Notification No.13/2018 – Integrated Tax (Rate) - (29/06/2018) - Seeks to exempt payment of tax under section 5(4) of IGST Act, 2017 till 30.09.2018 vide Notification No.13/2018 – Integrated Tax (Rate) dated 29th June, 2018....

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Govt to issue pending IGST refund on the basis of undertakings/ submission of CA certificates

Circular No. 12/2018-Customs - (29/05/2018) - Following procedure is being prescribed to overcome the problem of GST / IGST refund blockage. This would be an interim solution subject to undertakings/ submission of CA certificates by the exporters as given below and post refund audit scrutiny....

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IGST on goods supplied while being deposited in a customs bonded warehouse

Circular No. 3/1/2018-IGST - (25/05/2018) - Integrated tax shall be levied and collected at the time of final clearance of the warehoused goods for home consumption i.e., at the time of filing the ex-bond bill of entry and the value addition accruing at each stage of supply shall form part of the value on which the integrated tax would be pay...

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Problems encountered in sanction or IGST refund

F. No. 450/36/2018-Cus IV - (28/03/2018) - Wherever information provided in GSTR I is incorrect or insufficient, exporters have been given the option to rectify the same through Table 9A of GSTR 1. The modification done through Table 9A have been transmitted by GSTN to Customs EDI system. ...

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Reverse charge mechanism u/s 5(4) of IGST Act suspended till 30.06.2018

Notification No. 11/2018 – Integrated Tax (Rate) - (23/03/2018) - Reverse charge mechanism- Seeks to exempt payment of tax under section 5(4) of the IGST Act, 2017 till 30.06.2018 vide Notification No. 11/2018 – Integrated Tax (Rate)...

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Recent Posts in "IGST"

Zero Rated Supply without payment of IGST

Zero rated supplies are made without payment of tax: - As per Section 16(3) of the IGST Act, 2017, a registered person making zero rated supply is eligible to claim GST refund under either of the following options, namely: Supply of goods or services or both under bond or Letter of Undertaking, subject to such conditions, safeguards and ...

Read More

To “Deliver” or not to “Deliver”? – Section 10 of IGST Act, 2017

One of the most frequently asked and discussed query under GST by clients and practitioners alike has been the tax implications in the case of scenarios where the billing and shipping addresses are different, or the customer and consignee are two different parties. ...

Read More

Reverse Charge u/s 9(4) of CGST act applicability extended !

The awaited applicability of section 9(4) of CGST Act, section 5(4) of IGST Act & Section 7(4) of UTGST Act which was exempted earlier till 30.06.2018 has been now further extended again via  notification  given below till 30.09.2018. The exemption contained in this notification shall apply to all registered persons till the 30th da...

Read More

Reverse charge mechanism u/s 5(4) of IGST Act suspended till 30.09.2018

Notification No.13/2018 – Integrated Tax (Rate) (29/06/2018)

Seeks to exempt payment of tax under section 5(4) of IGST Act, 2017 till 30.09.2018 vide Notification No.13/2018 – Integrated Tax (Rate) dated 29th June, 2018....

Read More

Abolish IGST, intra-state E-way bill & bring real estate under GST

The Centre should abolish IGST and E-way bill to make the Goods and Services Tax more effective, deputy chief minister and finance minister of Delhi government, Mr Manish Sisodia said at an ASSOCHAM event held in New Delhi today....

Read More

Rs. 6,087 crore IGST refund sanctioned in 2nd Special Refund Fortnight

By the end of 16th June, 2018, Rs.6,087 crore IGST refund has been sanctioned in the refund fortnight. The interesting facts during the second fortnight are (i) about 1,68,191 shipping bills have been processed (ii) IGST refund claims of about 9,293 exporters have been sanctioned including about 3500 new exporters, whose refunds had been ...

Read More

GST on Commission earned in India from Foreign Entities in Convertible Foreign Exchange

The person earning the commission will falls under this definition. As per IGST Act, Sec. 13(8) - The place of supply of the following services shall be the location of the supplier of services, namely:–...

Read More

7 Post Budget Suggestion on Custom Law by ICAI

ICAI submitted sugesstion on 1. Levy of Integrated Tax on goods remaining in Bonded warehouse 2. Audit of assessment of imported or exported goods. 3. Power to issue supplementary notice 4. Communication of an order, decision, summon, notice etc. under Customs Act, 1962 through electronic mails. 5. Requirements for being an applicant o...

Read More

Govt to issue pending IGST refund on the basis of undertakings/ submission of CA certificates

Circular No. 12/2018-Customs (29/05/2018)

Following procedure is being prescribed to overcome the problem of GST / IGST refund blockage. This would be an interim solution subject to undertakings/ submission of CA certificates by the exporters as given below and post refund audit scrutiny....

Read More

IGST on goods supplied while being deposited in a customs bonded warehouse

Circular No. 3/1/2018-IGST (25/05/2018)

Integrated tax shall be levied and collected at the time of final clearance of the warehoused goods for home consumption i.e., at the time of filing the ex-bond bill of entry and the value addition accruing at each stage of supply shall form part of the value on which the integrated tax would be payable at the time of clearance of the war...

Read More
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