GST

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  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

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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)

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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 ?

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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

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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