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[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs Notification No.27/2018 – Central Tax New Delhi, the 13th June, 2018 G.S.R….(E).- In exercise of the powers conferred by sub-section (8) of section … Read more
Circular No. 49/23/2018-GST No. CBEC/20/16/03/2017-GST Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs GST Policy Wing **** New Delhi, Dated the 21st June, 2018 To, The Principal Chief Commissioners / Chief Commissioners / Principal Commissioners / Commissioners of Central Tax (All) / The Principal Directors … Read more
Circular No.44/18/2018-CGST 341/28/2017-TRU Government of India Ministry of Finance Department of Revenue Tax Research Unit ***** New Delhi, the 2nd May, 2018 To, The Principal Chief Commissioner/Chief Commissioners/ Principal Commissioner/ Commissioner of Central Tax (All) / The Principal Director Generals/ Director Generals (All) Madam/Sir, Subject: Issue related to taxability of ‘tenancy … Read more
GST Council approves principles for filing of new return design based on the recommendations of the Group of Ministers on IT simplification GST Council today in its 27th meeting approved principles for filing of new return design based on the recommendations of the Group of Ministers on IT simplification. The key elements of the new return … Read more
Incentive to promote Digital Transactions: Keeping in view the need to move towards a less cash economy, the Council has discussed in detail the proposal of a concession of 2% in GST rate [where the GST rate is 3% or more, 1% each from applicable CGST and SGST rates] on B2C supplies, for which … Read more
A number of representations have been received seeking clarifications in relation to requirement of e-Way Bill for “Bill To Ship To” model of supplies. In a typical “Bill To Ship To” model of supply, there are three persons involved in a transaction, namely: ‘A’ is the person who has ordered ‘B’ to send goods directly … Read more
Total Revenue of Rs. 7.19 lakh crore collected under GST in the period between August 2017 and March 2018 During 2017-18, total revenue collected under GST in the period between August 2017 and March 2018 has been Rs. 7.19 lakh crore. This includes Rs. 1.19 lakh crore of CGST, Rs. 1.72 lakh crore of SGST, … Read more
The time limit of filing the refund claim is to be checked from the “relevant date”. This term is defined in explanation 2 to section 54. This update is about the interpretation of term “relevant date” & its significance in determining the time limit for filing the refund claim. Section 54(1) of CGST Act, 2017 … Read more
Section 17(5) of the CGST Act, 2017 prescribes the list of blocked credits and this lists allows the ITC on few goods and services on conditional basis. The relevant part of section 17(5) reads as follows:- “(5) Notwithstanding anything contained in sub-section (1) of section 16 and subsection (1) of section 18, input tax credit … Read more
In normal parlance, there are cases where the service recipient retains a certain portion of payments to be made to the service provider. The amount so retained is paid to the service provider only after the provision of service is complete. This update seeks to take an insight into various provisions for ascertaining whether the … Read more