Goods and Services Tax

Profiteering – benefit of reduction in the GST rate not passed – base price of goods also increased – Respondent has violated the provisions of section 171 in as much as the prices have remained the same inspite of reduction in the tax rate. His

GST – Profiteering – benefit of reduction in the GST rate not passed – base price of goods also increased – Respondent has violated the provisions of section 171 in as much as the prices have remained = = = = = = = = Plain text (Extract) onlyFor full text:-Visit the Source = =…

Valuation – Concept of Pure Agent Defined

Goods and Services Tax – GST – By: – CA Akash Phophalia – Dated:- 17-1-2019 – Introduction Revenue laws are often called as incomplete without valuation. Tax is always charged on some basic value and guiding principles to calculate such value is enumerated in the concerned law itself. In fact come times courts had held…

Notified supplies, when the supply of goods shall be treated as deemed export under GST e.g. supplies against Advance Authorisation – Notification amended to submit certificate from CA in certain cases.

GST – Notified supplies, when the supply of goods shall be treated as deemed export under GST e.g. supplies against Advance Authorisation – Notification amended to submit certificate from CA in certain cases. – TMI Updates – Highlights = = = = = = = = Plain text (Extract) onlyFor full text:-Visit the Source =…

ITC WRONGLY ENTERED IN 3B

ITC WRONGLY ENTERED IN 3B – GST – Started By: – PUNEET NEMA – Dated:- 16-1-2019 Last Replied Date:- 16-1-2019 – ITC WRONGLY ENTERED IN 3B BUT NOT AVAILED ITC SECTION 50 (3) INTEREST NOT CHARGEABLE DUE = = = = = = = = Plain text (Extract) onlyFor full text:-Visit the Source = =…

GST ITC for Jul17 to march 18

GST – Started By: – Madhavan iyengar – Dated:- 16-1-2019 Last Replied Date:- 17-1-2019 – Sirs A company has not availed ITC of some invoices of services of the period July 17 to March 18, by virtue of the order 02/2018 issued by CBIC dated 31/12/2018 can this ITC be availed now in Dec 2018…

RAJESH ACCOUNTANT

GST – Started By: – rajesh subramanian – Dated:- 16-1-2019 – Dear sirsWe are pvt ltd, and hiring manpower from an agency, who is un-registered dealer,from the said agency we are receiving service like professional consultancy, house keeping, Security, gardener etc and we are debiting the charges to corresponding a/c heads ( ie prossional charges,…

Interest on Un Utilized ITC in a regular/ Tran1

GST – Started By: – Ravikumar Doddi – Dated:- 16-1-2019 Last Replied Date:- 17-1-2019 – Dear sir,Is interest is applicable on the unutilized credit of TRAN1 which was disallowed by department or in a regular returns some times we may claim ITC erroneously – Reply By KASTURI SETHI – The Reply = Answer is NO.…

7-Member Group of Ministers (GoM) constituted for boosting the Real Estate Sector under the GST regime by providing a Composition Scheme for Residential Construction Units among others

Goods and Services Tax – GST – Dated:- 16-1-2019 – In pursuance of decision in the 32nd Meeting of GST Council held on 10th January, 2019 at New Delhi, a Group of Ministers (GoM) for boosting the Real Estate Sector under the GST regime has been constituted. The GoM for boosting Real Estate Sector under…

Detention order – non-compliance of the mandate under the provisions of Section 129(4) of the Act – The Proper Officer realizing the lacuna, has proceeded to pass the rectification order after taking into consideration the objections – Hence, no

GST – Detention order – non-compliance of the mandate under the provisions of Section 129(4) of the Act – The Proper Officer realizing the lacuna, has proceeded to pass the rectification order after t = = = = = = = = Plain text (Extract) onlyFor full text:-Visit the Source = = = = =…

RECENT AMENDMENTS IN GOODS AND SERVICES TAX RULES, 2017

Goods and Services Tax – GST – By: – Mr. M. GOVINDARAJAN – Dated:- 15-1-2019 – Vide Notification No. 74/2018-Central Tax, dated 31.12.2018 the Central Government made the Central Goods and Services Tax (Fourteenth Amendment) Rules, 2018 further to amend the Central Goods and Services Tax Rules, 2017. These rules, unless otherwise stipulated, came into effect…

RCM-Applicability to a Trader

GST – Started By: – swamynathan pitchai – Dated:- 14-1-2019 Last Replied Date:- 14-1-2019 – Dear sir A is the manufacturer at GJ.B is the End user at TN ordered a product X on A. B intend to transport X from A's place at GJ to B's project site at MH.Trading firm C (Only GST…

commission

GST – Started By: – Madhavan iyengar – Dated:- 13-1-2019 Last Replied Date:- 17-1-2019 – X based in Maharahstra India has a GST regn X helps in procurement of orders for its overseas clients based in US and Germany X receives commission from the clients in US and Germany for the procurement of orders. Thus…

export fo services

GST – Started By: – Madhavan iyengar – Dated:- 12-1-2019 Last Replied Date:- 13-1-2019 – A indian Company X in new delhi has received a contract for submission of a quality audit report, for one of the clients based in haryana india of an overseas company B located in US.X will raise invoice in USD…

Non-reduction of MRP invokes Anti-profiteering law

Goods and Services Tax – GST – By: – Dr. Sanjiv Agarwal – Dated:- 12-1-2019 – The National Anti-profiteering Authority (NAA) has held that non-reduction of prices (MRP) after GST rate reduction amounts to indulgence in profiteering so as to invoke section 171 of the CGST Act, 2017 on anti-profiteering measures. In the matter of…

GST ON HEALTHCARE SERVICES

Goods and Services Tax – GST – By: – Ritesh Mehta – Dated:- 12-1-2019 – Good health and good sense are two of life s greatest blessings. However with the recent action of taxmen both of these seems to be in jeopardy. In a recent article in the leading national daily, it was brought to…

Sweet Shop-Cum-Restaurant With Takeaway Facilities

Goods and Services Tax – GST – By: – CA Akash Phophalia – Dated:- 12-1-2019 – Introduction Globalization has changed different aspects of the Indian society including food habits. In its swing, Food and Beverages (F&B) Industry has also changes the nature of its service cum supply. Nowadays, it is common to find Sweetshops cum…