GST – REVERSAL OF INPUT TAX CREDIT (ITC) RELATED TO EXEMPTED or NIL RATED OUTWARD SUPPLIES

This article covers relevant abstract provisions of GST Laws related to reversal of Input Tax Credit (ITC) used in relation to Exempted or NIL Rated output Supplies:-   As...

REDUCED RATE OF GST FOR JOB WORK ON READYMADE GARMENTS : GST COUNCIL DECISION 5TH AUG, 2017

In a major relief to the Ready Made Garment sector, the GST Council has reduced the Rate of GST on Job Work of Readymade Garments and made-ups from 18%...

LAST DATE FOR FILLING INCOME TAX RETURN (NON AUDIT) EXTENDED TO 5TH AUG, 2017

In view of the problems being faced by the assessees in filling there Income Tax Return on 29th and 31st of July, 2017 – the government has extended the...

DOCUMENTS REQUIRED FOR LETTER OF UNDERTAKING FOR EXPORT UNDER GST

As per the circulars and notification issued by the Government and the existing practice in various commissionerates under the Goods and Services Tax, we are noting below the list...

LAST DATE FOR OPTING FOR COMPOSITION SCHEME UNDER GST : 21st JULY, 2017

The Government has issued clarification on Migration, New Registration, Opting for Composition Scheme and Issue of Bills of Supply vide its circular dated 08th July, 2017 (Copy Enclosed) as below:-...

GST LIABILITY ON ADVOCATES

We are discussing below various provision under the GST Laws relating to Exemption, Reverse Charge and requirement for Registration of Advocate’s under GST. For the purpose of GST, Advocates...

GST – EXPORT PROCEDURE UNDER BOND OR LETTER OF UNDERTAKING

Rule 96 A of the CGST Rules provides for Refund of Integrated Tax paid on export of goods or services under bond or Letter of Undertaking as below:- (1)...

PLACE OF SUPPLY OF SERVICE FOR HOTELS & RESTAURANTS

In case of Hotels and Restaurants, the government has prescribed special provisions under the IGST Act, 2017 for identification of the Place of Supply of Service. The bare law...

BIG RELIEF TO E-COMMERCE COMPANIES – POSTPONEMENT OF TCS (Sec 52) UNDER GST

With the objective of ensuring smooth rollout of GST and taking into account the feedback received from the trade and industry regarding the provisions of deduction of tax at...

Exemption from GST Registration – Taxable Supplies under Reverse Charge

The central government has exempted persons who are engaged in supplies of taxable goods and services, the total tax on which is liable to be paid on Reverse Charge...

DISCLAIMER

The Views expressed on this blog are strictly personal and for knowledge of our clients only. The contents of this blog are solely for informational purpose and it does not constitute any professional advice or recommendation. The laws related to GST and other taxes are under evolution and subject to constant changes and amendments over time. It is suggested to take specific legal advice and necessary due diligence before relying on the contents and information of this Blog. The authors of this blog, does not accept any liabilities for any loss or damage of any kind arising out of information on this blog and for any actions taken in reliance thereon.