The following the refund related issues has been clarified: 1. Physical submission of refund claims with jurisdictional proper officer 2. Calculation of refund amount for claims of refund of accumulated Input Tax Credit (ITC) on account of inverted duty structure 3. Disbursal of refund amounts after sanction 4. Refund applications that have been generated on …
The issue – In case an exporter of services outsources a portion of the services contract to another person located outside India, what would be the tax treatment of the said portion of the contract at the hands of the exporter? There may be instances where the full consideration for the outsourced services is not …
Government clarifies the effective date when taxpayer must start raising tax invoice after opting out of composition scheme and also the resulting actions to be taken by taxpayer in case his request of opting out of composition scheme is denied. More Details
The issues that have been clarified by government are: 1. Sale made by government Department to unregistered persons 2. Liveability of Penalty regarding Form GSTR 3b filed after due date 3. The rate of GST applicable on credit/debit note 4. Valuation methodology in case of TDS More Details
Services provided to banks and business correspondents, security services (supply of security personnel’s) and Parliament and State will follow Reverse Charge Mechanism. Notification for Integrated Tax Notification for Union Territory Tax Notification for Central Tax
1. Government has exempted GST on supply of gold by nominated agencies to a registered person. 2. Transportation of goods by Goods Transport Agencies to government agencies, banking services provided to Basic Saving Bank Deposit(BSBD) account holders, Rehabilitation, therapy or counselling provided by medical establishments, educational institutions or rehabilitation centres established by government are reduced …
Music books, Vegetables (uncooked or cooked by steaming or boiling water) frozen, Supply of gift items by President, Prime Minister, Governor, Chief Minister or any public servant by public auction that are used for public or charitable cause has been exempted. Notification for Integrated Tax Notification for Union Territory Tax Notification for Central Tax
1. Marble, Crude, Natural Cork(raw), Walking Sticks, Fly Ash Blocks, accessories for carriages for disables people etc reduced to 5% 2. Natural Cork(roughly squared etc), Flexible immediate bulk containers etc. reduced to 12% 3. Tyres of rubber, lithium-ion accumulators, video games consoles, pulleys, transmission shafts, gear boxes, digital cameras, video camera recorders etc. reduced to …
Rules for determination of place of supply in case of supply of services in attributable to different states and union territories under various sections for inter-state supplies has been modified. More Details
Extension till 31st Jan’2019 for migrated taxpayers to obtain GST registration to get GSTIN to submit the provisional ID details. Extension till 28th feb’2019 for completing the filing of REG-01 and submitting details through email. More Details
