Articles

12
Jun

Declare Lockdown Period as Zero Period.

A humble suggestion for minimising  damage to economy by waiver of Interest, rent, wages for the lock-down period.) The unprecedented situation created by the outbreak of COVID -19 has devastating effects on the economy. Governments all over the world have reacted similarly to deal with its economic impact, like granting a moratorium on repayment of  loan, suspending  operation of insolvency

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23
Apr

DECODING IMPACT OF NEW GST PROVISIONS ON REAL ESTATE SECTOR

On the recommendation of GST Council, the government, exercising its power under Section 148 of the Central Goods And Service Tax Act, 2017, changed the entire taxation system of GST for Real Estate Developers.  An attempt is made to understand and explain the newly inserted provisions which can be read by clicking the given link DECODING IMPACT OF NEW GST PROVISIONS

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27
Dec

IGST On Ocean Freight

The Authority for Advance Rulings for Uttarakhand after considering Notification No. 08/2017- IGST (Ratee) and Notification No. 10/2017-Integrated Tax (Rate) ruled that even if the importer has paid IGST on CIF Value of Imported goods, he is still required to pay IGST on Ocean Freight. In Notification No. 08/2017 applicable IGST rate on services have been Notified and at Sr.

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23
Jan

RATE OF GST LEVIABLE ON TYRES AND TUBES MEANT FOR E-RICKSHAW – by Adv. Nidhi Gupta

RATE OF GST LEVIABLE ON TYRES AND TUBES MEANT FOR E-RICKSHAW - by Adv. Nidhi Gupta Goods and Service Tax is a tax levied on the supply of goods and services. Once the liability of payment of goods and service tax is established, the next question arises that what is the amount of duty payable. The two step process is
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29
Sep

APPLICABILITY OF GST ON PACKAGED GROCERY ITEMS – by NIDHI GUPTA, Advocate

APPLICABILITY OF GST ON PACKAGED GROCERY ITEMS With the introduction of GST, a tax of 5% was imposed on majority of Grocery Products like Wheat Flour, Gram Flour, Rice and Pulses etc., when sold in packaged form under a registered brand name.  Therefore, a number of persons owning well established brands surrendered registration in respect of such brand names. But,

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31
Jul

Used Cars and GST by Bharat Bhushan (Advocate)

Sale of Used Cars – GST Implication. One thing about GST is certain and that is confusion. One of such confusions is about GST implications on sale of Old and used Cars. Business houses purchase Motor Cars for use of its staff on payment of GST at appropriate rate. Input Tax Credit of GST paid on Motor Cars is not

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13
Jul

GST – Do You Know ??? LIABILITY FOR GST REGISTRATION & GST PAYMENTS – By Amit Aggarwal – C.A.

GST – Do You Know ??? LIABILITY FOR GST REGISTRATION&GST PAYMENTS : 1. As per Sec 22 of the CGSTAct 2017 (“the Act”), every supplier (including his agent) who makes a taxable supply i.e. supply of goods and / or services which are leviable to tax under GST law, and his Aggregate turnover in a financial year exceeds the threshold

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3
Jul

Export procedure and sealing of containerized cargo in the GST Law – Hunny Munjal

  The Purpose of this article is clarify the export procedure defined in the Customs Circular No. 26/2017 Dated 01th.July.2017 in the Current GST Regime. Export/Import procedureis a major concern for the exporters & importers. The supplies of the goods and service for the exports has been categorized as “Zero Rated Supply” in the GST Law. The supplies can be

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1
Jul

Period of limitation under GST law – R.K. Hasija (Advocate), GSTaxperts.

Period of limitation under GST law R K Hasija, Advocate, GSTaxperts GST law has been implemented replacing various tax statues, levying taxes and duties under Centre and states laws. The purpose of legislatingGST law has been to do away that multiple tax laws and introduce a single tax on the concept of one nation one tax. It has been the

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1
Jul

Major Relief to Small Taxpayer’s in GST – Manoj Agarwal, GSTsathi, Rourkela

– REVERSE CHARGE U/s 9(4) EXEMPTED for Inward Supply Value upto Rs. 5000 in a Day The Central Government has issued Exemption Notification No. 8/2017-CT(Rate) dated 28-06-2017 giving relaxation to Registered Persons under GST from major (and draconian) compliance required under section 9(4) of the CGST Act, 2017. As per Section 9(4), every registered person (including composition dealer u/s 10)

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