The GST Council, in its 22nd Meeting which was held on 06-10-2017 in the national capital under Chairmanship of the Union Minister of Finance and Corporate Affairs, Shri Arun Jaitley has recommended following package of relief & incentives for the Exporters:- a) Within the next 4 days i.e. by 10.10.2017 the held-up refund of IGST …
PACKAGE OF RELIEF & INCENTIVES FOR EXPORTERS UNDER GST Read More »
In line with its objective to make GST Exporter’s (specially small exporters) friendly, the Central Government has taken pro-active measure to help all the Exporters to obtain Letter of Undertaking (LUT) under GST instead of requirement of Bond for the Small Exporters. Earlier there were following benchmark requirement for an Exporter to obtain LUT under GST, in …
REVISED REQUIREMENTS FOR LETTER OF UNDERTAKING (LUT) UNDER GST FOR EXPORTERS Read More »
A clarification has been sought from the GST Council with regard to the Rate of GST on Hotel Accommodation. In this matter the government has changed the Terminology used earlier in the Tax Rate Schedule updated till 03rd July, 2017 and now the term ‘Declared Room Tariff’ has been replaced at all places where earlier they …
GST ON HOTEL ACCOMMODATION – RATE OF TAX ON DECLARED ROOM TARIFF Read More »
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 per Section 17 of the GST Laws:- “Section 17 (2) – Where the goods or services or both are used by the registered person partly for …
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% to 5%. Several landmark decisions have been taken in the 20th Meeting of the GST Council relating to reduction in the rate of Tax on specific …
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 last date for filling of the Return for Non Audit Assessees to 5th of Aug, 2017.
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 of documents that the officials are usually asking at the time of submission of the offline Letter of Undertaking for Export without payment of IGST. It …
DOCUMENTS REQUIRED FOR LETTER OF UNDERTAKING FOR EXPORT UNDER GST Read More »
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:- The Rules related to Registration and Composition Scheme have been notified on 19th June, 2017. These Rules have been brought into effect from 22nd June, 2017. …
LAST DATE FOR OPTING FOR COMPOSITION SCHEME UNDER GST : 21st JULY, 2017 Read More »
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 have been been divided into 2 Categories:- a) An Individual Advocate or Firm of Advocates; and b) Senior Advocate —- (A) EXEMPTION PROVIDED TO ADVOCATES UNDER …
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) Any registered person availing the option to supply goods or services for export without payment of integrated tax shall furnish, prior to export, a bond or …
GST – EXPORT PROCEDURE UNDER BOND OR LETTER OF UNDERTAKING Read More »