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
– 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)
Transitional Provisions under GST regarding Cenvat Credit.
By CA Nitin Goel
While much has already been spoken about the seamless flow of credit under the GST regime by the GST campaigners, any transition to a new law should be impartial for the migrating tax payers to ensure its smooth acceptability. The transitional provisions covered in Section 140 to Section 142 of the CGST Bill, 2017 give clarity relating to events that may not have been finished as on the appointed day like closing balance of CENVAT credit, goods in transit, material sent for job work, stock of exempted goods which have now become taxable, etc. However, at the same time, these provisions also leave certain areas of doubt that would throw up certain challenges. The Article below summarizes the transitional provisions relating to CENVAT credit and input tax credit as per the CGST Bill, 2017 and UTGST Bill, 2017 as approved by the Lok Sabha on 29 March 2017.
E- Commerce, a term unheard of a few years ago has now become “Apnidukaan” in the words of Amazon. On one hand, consumers get the advantage of comparing wide variety of products and their prices from the comfort of their homes, while on the other, E Commerce provides the seller an opportunity to grow their businesses beyond the brick and