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Government of India in the Ministry of Finance (Department of Revenue), No. 8/2017-Integrated Tax (Rate), dated the 28th June, 2017 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 683 (E), dated the 28th June, 2017, in the Table, in Sl No. 10, in column (3) and column (4), for
Central Government exempts all goods imported by a unit or a developer in the Special Economic Zone for authorised operations, from the whole of the integrated tax leviable thereon under sub-section (7) of section 3 of the Customs Tariff Act, 1975 (51 of 1975) read with section 5 of the Integrated Goods and Service Tax Act, 2017 (13 of 2017).
Central Government hereby exempts services imported by a unit or a developer in the Special Economic Zone for authorized operations, from the whole of the integrated tax leviable thereon under section 5 of the Integrated Goods and Service Tax Act, 2017 (13 of 2017).
Central Government, on being satisfied that it is necessary in the public interest so to do, hereby rescinds, except as respects things done or omitted to be done before such rescission, the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 15/2017- Integrated Tax (Rate), dated the 30th June, 2017
CBEC hereby assigns the officers mentioned in Column (2) of the Table below, functions as proper officers in relation to the various sections of Central Goods and Services Tax Act, 2017 or rules made there under given in corresponding entry in Column (3) of said Table:-
In case of import credit cannot be availed unless goods are received by registered person in the registered state or you have to take registration in the state from where you are willing to supply directly without receiving the goods to registered place of business.
IGST and GST Compensation cess will be levied on imports by virtue of sub-sections (7) & (9) of Section 3 of the Customs Tariff Act, 1975. Majority of imports would attract levy of IGST except a few commodities such as pan masala, certain petroleum products which attract levy of CVD.
Article compiles Rate of Interest under the provisions of provisions of CGST/IGST Act, 2017 and takes into account Notification Numbers – 13/2017 – Central Tax, dated 28th day of June, 2017 and 06/2017 –Integrated Tax, dated 28th day of June, 2017 issued by CBEC. Interest Rates are Effective from – 01/07/2017. Check HSN Code list […]
The GST is destination base consumption Tax that mean Tax will goes to consumption state. The purpose of GST free flow of goods between the states. India become a one market with one tax rate. Some expert has given view that in case of ex-factory supply the POS shall be the place of supplier’s state.
Integrated Tax rate on fertilisers been reduced from 12% to 5% which includes Mineral or chemical fertilisers, nitrogenous, other than those which are clearly not to be used as fertilizers, Mineral or chemical fertilisers, phosphatic, other than those which are clearly not to be used as fertilizers
