Bharat Bhushan

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

GST bulletin

1.In case of Supply of lottery tickets by the state Govt, Union Territory and any local authority to the lottery distributor or selling agent, the GST shall be paid on reverse charge basis by the lottery distributor or selling agent. The tax liability on the lottery tickets shall be 100/112 of face value or price notified by the state govt

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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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30
Jun

DO YOU KNOW SERIES-4 – C.A. AMIT AGGARWAL (NAGPUR/MUMBAI)

  Impact of Stock Transfer to Branches:  Under Central Excise, a registered manufacturer making a stock transfer of excisable goods, should pay excise duty on 100% plus 10 % of cost of production, and under VAT, on furnishing Form F, stock transfers are not taxable. Under GST, ‘Supply’ includes transfers. The taxability of certain specific supplies without consideration and the

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30
Jun

DO YOU KNOW SERIES-3 – C.A. AMIT AGGARWAL (NAGPUR/MUMBAI)

1) Unlike in Service tax today there is no more exemption available to Job worker from payment of GST even though his process amounts to manufacture or even if his principal has paid GST on the final product supplied. 2) Presently the Job workers are exempted from payment of service tax if the principal manufacturer has paid appropriate duty of

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30
Jun

Do You Know Series-2 – C.A. Amit Aggarwal (Nagpur/Mumbai)

That barter or exchange is also liable to GST being covered under definition of Supply if in course or furtherance of business. Eg, Say IPL has travel partner sponsored from Jet airways for its Admin or other staff. IPL get free tickets and Jet airways gets a branding/ promotion. Today these kind of transactions are not liable to service tax

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30
Jun

DO YOU KNOW SERIES-1 – C.A. AMIT AGGARWAL (NAGPUR/MUMBAI)

    Under GST, Works Contract are deemed to be supply of Services thus, there will be no need to bifurcate the value of goods and services when the transaction has item rate as service and supply and tax would be levied on entire value at full rate. suppose someone has got Rs. 100 cr contract for Civil works from

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30
Jun

Manufacturers name cannot be treated as Brand name.

In the recent GST Regime tax @ 5% have been imposed on many food items like Rice, Cereals, Daals, Flour, Besan etc. subject to the condition that they are sold in a unit container under a registered trademark.  In the GST Rate Notifications the definition of ‘Unit container’ and ‘Registered Trademark’ have been given as under:- “The phrase “unit container”

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