Reading Time: 2 minutesSpecial Refund Fortnight will be organised from May 31 to June 14 in which Centre and state GST officers will strive to clear all GST refund applications received on or before April 30, 2018,” the government tweeted from the official handle for GST-related matters. Special Refund Fortnight, the Central Board of Indirect Taxes & Customs
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Reading Time: 2 minutesAuthority for Conducting exams for GST Practitioners, The Central Board of Indirect Taxes and Customs (“CBIC”) vide Notification No. 24 /2018 – Central Tax dated May 28, 2018, has decided that the National Academy of Customs, Indirect Taxes and Narcotics, Department of Revenue, Ministry of Finance, Government of India, as the authority to conduct the examination for GST Practitioners as
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Reading Time: 2 minutesGST on Farmers, The Central Board of Indirect Taxes & Customs has given Clarification on the GST implication related to farmers on 28th May 2018, according to the press release issued by CBIC “It has been reported in the certain section of the Press that certain changes have been made in GST law relating to farmers, which
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Reading Time: 5 minutesProvisional Assessment in GST, In case, the supplier is unable to determine value/rate of tax on goods/services or both applicable he can request Asst. /Dy. Commissioner of Central Tax, giving reasons for payment of tax on the provisional basis. Provisional Assessment in GST Introduction A supplier will come to know the extent of his tax liability which
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Reading Time: 10 minutesTreatment of Information Technology Information Technology enabled Services IT ITES under GST Question 1: Whether software is regarded as goods or services in GST? Answer: In terms of Schedule II of the CGST Act 2017, development, design, programming, customisation, adaptation, upgradation, enhancement, implementation of information technology software and temporary transfer or permitting the use or
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Reading Time: 2 minutesArrest under GST, Father Son arrested in case of fraudulent issuance of GST invoices, Central Tax, GST Delhi East Commissionerate arrested a Shahdara based father son-duo on 22.05.2018 in case of fraudulent issuance of Input Tax Credit invoices involving evasion of approximately Rs. 28 Crores relating to the Copper industry. As per Section 132 of the
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Reading Time: 2 minutesDetermination The Place of Supply Determination The Place of Supply is the most important aspect of the Goods and Services Tax system, one should know the proper place of supply before doing the taxation or issuing an Invoice under GST. We should determine the place of supply so that the proper treatment of GST can be done.in
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Reading Time: 2 minutesDue Date for Form GSTR3B April 2018 extended to 22.05.2018 Due Date Extension for GSTR3B, As the most of the taxpayers were suffering due to technical glitches of GST portal on Last days of filling for the Form GSTR3B, the government has extended the due date for the same and issued a Press Release on extension
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Reading Time: 10 minutesAppeals and Review Mechanism under GST Introduction: Appeals and Review Mechanism under GST Tax laws (or any law, for that matter) impose obligations. Such obligations are broadly of two kinds: tax-related and procedure-related. The taxpayer’s compliance with these obligations is verified by the tax officer (by various instruments such as scrutiny, audit, anti-evasion, etc.), as a
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Reading Time: 3 minutesTaxability of Tenancy Rights under GST Taxability of Tenancy Rights under GST, The Government of India has addressed the Issues related to Taxability of Tenancy Rights under GST- regarding doubts have been raised as to.- (i) Whether Transfer of Tenancy Rights to an incoming tenant. consideration of which is in form of tenancy premium Shall attract GST
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