Goods and Services Tax

GST on Co-operative Housing Societies

GST – GST Law and Procedure – 041 – Chapter Forty One GST on Co-operative Housing Societies INTRODUCTION Co-operative Housing Societies are entities registered under the co-operative laws of the respective States. According to Section 2(16) of the Maharashtra Cooperative Society Act, 1960, housing society means a society, the object of which is to provide…

Statement of Outward Supplies (GSTR-1) in GST

GST – GST Law and Procedure – 033 – Chapter Thirty Three Statement of Outward Supplies (GSTR-1) in GST Introduction: FORM GSTR-1 is a statement of the details of outward supplies (i.e. sales of goods or provision of services) of goods or services or both. The details filed in table of this statement are to…

Works Contract in GST

GST – GST Law and Procedure – 028 – Chapter Twenty Eight Works Contract in GST Introduction: What is a works contract? Simply put, a works contract is essentially a contract of service which may also involve supply of goods in the execution of the contract. It is basically a composite supply of both services…

Deemed Exports in GST

GST – GST Law and Procedure – 025 – Chapter Twenty Five Deemed Exports in GST Introduction Deemed Exports refers to supplies of goods manufactured in India (and not services) which are notified as deemed exports under Section 147 of the CGST/SGST Act, 2017. The supplies do not leave India. The payment for such supplies…

Zero Rating of Supplies in GST

GST – GST Law and Procedure – 024 – Chapter Twenty Four Zero Rating of Supplies in GST Introduction What is the need for Zero Rating? As per section 2(47) of the CGST Act, 2017, a supply is said to be exempt, when it attracts nil rate of duty or is specifically exempted by a…

Compensation cess in GST

GST – GST Law and Procedure – 022 – Chapter Twenty Two Compensation cess in GST Introduction: Goods and Services Tax (Compensation to States) Act, 2017 was enacted to levy Compensation cess for providing compensation to the States for the loss of revenue arising on account of implementation of the goods and services tax with…

Electronic Cash/Credit Ledgers and Liability Register in GST

GST – GST Law and Procedure – 017 – Chapter Seventeen Electronic Cash/Credit Ledgers and Liability Register in GST Introduction: On the common portal each registered taxpayer will have one electronic register called the Electronic liability register and two electronic ledgers namely Electronic Cash Ledger and Electronic Credit Ledger. These register and ledgers will reflect…

Composition Levy Scheme in GST

GST – GST Law and Procedure – 011 – Chapter Eleven Composition Levy Scheme in GST 1. Composition Levy Scheme under GST law. Composition levy scheme is a very simple, hassle free compliance scheme for small taxpayers. It is a voluntary and optional scheme. Benefits of composition scheme Easy compliance as no elaborate accounts and…

Concept of Aggregate Turnover in GST

GST – GST Law and Procedure – 007 – Chapter Seven Concept of Aggregate Turnover in GST Turnover, in common parlance, is the total volume of a business. The term aggregate turnover has been defined in GST law as under: aggregate turnover means the aggregate value of all taxable supplies (excluding the value of inward…

GST on advances received for future supplies

GST – GST Law and Procedure – 006 – Chapter Six GST on advances received for future supplies Time of supply determines when the taxpayer is required to discharge tax on particular supply. Time of supply provisions are governed by Section 12 to 14 of the CGST Act, 2017. As per the said provisions, the…

Cancellation of Registration in GST

GST – GST Law and Procedure – 002 – Chapter Two Cancellation of Registration in GST Introduction: The registration granted under GST can be cancelled for specified reasons. The cancellation can either be initiated by the department on their own motion or the registered person can apply for cancellation of their registration. In case of…

CENTRAL SCHOOL EXEMPTION

GST – Started By: – MUSKAN AGARWAL – Dated:- 23-1-2019 Last Replied Date:- 23-1-2019 – IF A CENTRAL SCHOOL IS SERVICE RECEIVER OF FINANCE SERVICE.SO CENTRAL SCHOOL IS EXEMPT FOR GST APPLICATION OR NOT – Reply By KASTURI SETHI – The Reply = Dear Querist, . Who is service provider ? I mean to say…

GST on Used Cars

Goods and Services Tax – GST – By: – Akshay Hiregange – Dated:- 23-1-2019 – Introduction: Since one and half year from date of implementation of GST, there are several confusions regarding rate of tax applicable on sale of motor vehicles. In this article I would like to throw some light on changes on GST…

APPLICABILITY OF GST

GST – Started By: – NILESH PITALE – Dated:- 22-1-2019 Last Replied Date:- 23-1-2019 – Respected SirMy Client is Registered in Maharashtra, He Has Imported The Goods In Delhi Wherein he has No Place of Business and Sent to the Goods at Job Worker place in delhi , and Finished Goods Despatched to The Buyers…

Transmission or distribution for electricity – Scope of bundled service – Service tax under negative list era – all the services are naturally bundled in the ordinary course of business of the petitioner and are required to be treated as provisi

GST – Transmission or distribution for electricity – Scope of bundled service – Service tax under negative list era – all the services are naturally bundled in the ordinary course of business of the p = = = = = = = = Plain text (Extract) onlyFor full text:-Visit the Source = = = =…

Transmission or distribution for electricity – scope of composite supply in GST era – the services provided by the petitioner are in the nature of composite supply in view of the provisions of clause (a) of section 8 of the CGST Act, the tax lia

GST – Transmission or distribution for electricity – scope of composite supply in GST era – the services provided by the petitioner are in the nature of composite supply in view of the provisions of c = = = = = = = = Plain text (Extract) onlyFor full text:-Visit the Source = = =…

Nature of supply of service – Support services or Intermediary service – applying the test mentioned in the Education Guide, held that, applicant is not a person who arranges or facilitate supply of services between two or more persons.

GST – Nature of supply of service – Support services or Intermediary service – applying the test mentioned in the Education Guide, held that, applicant is not a person who arranges or facilitate suppl = = = = = = = = Plain text (Extract) onlyFor full text:-Visit the Source = = = = =…

Nature and classification of supply of service – adoption and implementation of AM’s advertising policy, conducting sales promotion through exhibition trade, liaising with customer etc. – the services the applicant proposes to provide would fall

GST – Nature and classification of supply of service – adoption and implementation of AM’s advertising policy, conducting sales promotion through exhibition trade, liaising with customer etc. – the se = = = = = = = = Plain text (Extract) onlyFor full text:-Visit the Source = = = = = = = =

GIST OF RECENT PRONOUNCEMENTS ON GST (PART-XIX)

Goods and Services Tax – GST – By: – Dr. Sanjiv Agarwal – Dated:- 22-1-2019 – Goods and Services Tax (GST), introduced from July 1, 2017 is more than a year and half old now but has resulted in operational and implementation disruptions affecting all stakeholders. GST law, as drafted and legislated, is not free…

GST Registration – Bank Account Requirment

GST – Started By: – Felipe Luciano – Dated:- 21-1-2019 Last Replied Date:- 23-1-2019 – Dears,Is possible do the GST Registration if I do not have a bank account?Or use the bank account of third party as my bank account for GST Purposes. – Reply By KASTURI SETHI – The Reply = Registration under GST…

Rate of GST on elevators

GST – Started By: – Navin Agarwal – Dated:- 21-1-2019 Last Replied Date:- 23-1-2019 – Please let me know about any circular no or notification no which speaks about rate of GST on elevator. Also indicate any changes in rate of GST on elevators for personal use.Your guidance will be appreciated.Thanking you in anticipation. –…