a) In view of the difficulties being faced by taxpayers in filing returns, the following revised schedule has been approved: Sl. No. Details / Return Tax Period Revised due date 1 GSTR-1 July, 2017 10-Oct-17 For registered persons with aggregate turnover of more than Rs. 100 crores, the due date shall be 3rdOctober 2017…Read More Due Date For GSTR-1-2-3-4-6 Extended For July 2017 Once Again
THE CONSTITUTION (ONE HUNDRED AND FIRST AMENDMENT) ACT, 2016 A-1–A-11 THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 1–666 CHAPTER I: PRELIMINARY 1–51 Shorttitle, extent and commencement 1 Definitions 2 CHAPTER II: ADMINISTRATION 52–56 Officersunder this Act 52 Appointmentof officers 53 Powersof officers 54 Authorisationof officers of State tax or Union territory tax as proper officer in certain circumstances 55 CHAPTER III: LEVY AND COLLECTION OF TAX 57–119 Scopeof supply 57 Taxliability on composite and mixed supplies 57 Levyand collection 57 Compositionlevy 78 Powerto grant exemption from tax 87 CHAPTER IV: TIME AND VALUE OF SUPPLY 120–158 Timeof supply of goods 120 Timeof supply of services 130 Changein rate of tax in respect of supply of goods or services 137 Valueof taxable supply 146 CHAPTER V: INPUT TAX CREDIT 159–204 Eligibilityand conditions for taking input tax credit 159 Apportionmentof credit and blocked credits 166 Availabilityof credit in special circumstances 172 Takinginput tax credit in respect of inputs and capital goods sent for job-work 186 …Read More E-BOOK ON GST LASTEST UPDATED PDF AUGUST 2017 MRP-800 (24.08.2017)
While the GST (goods and services tax) is exempt for those with annual turnover below Rs 20 lakh, what is included/ excluded when calculating the total turnover? Section 22 of the CGST Act, 2017, provides provisions with regard to a person who is required to obtain registration under GST. According to this, every supplier is liable to be…Read More GST on Free Samples Distributed | How are free samples treated under GST regime ?
Goods and Services Tax (GST) is considered as the biggest reforms in India. However, one thing that has become the talking point is – the mechanism of input credit under GST. In simple words, Input Credit means at the time of paying tax on sales, you can reduce the tax you have already paid on purchases. In…Read More Input Tax Credit (ITC) Under GST | How to Claim ITC In GST | How Input Tax Works Under GST | Documents and forms required to claim Input Tax Credit
Transitional Arrangements for Input Tax Credit under CGST Act on unsold stocks by TRADERS Section 140(3) of Transitional Provisions of CSGT Act r/w Transition Rules The government is doing all that it can to implement GST (Goods & Services Tax) with effect from July 1, 2017. As we move towards a new era of taxation,…Read More Input Tax Credit under CGST Act on unsold stocks by Traders | Transitional Arrangements