News
Govt. garners Rs. 92,283 Cr revenue in first GST month; 38.38 lakh returns filed till date
Ministry of Finance releases revenue figures from first month of GST implementation, which tally to Rs. 92,283 Cr as on.....
CBEC : 'Anti-profiteering Authority' a mechanism to check undue profiteering at common man’s expense
CBEC explains role of National Anti-profiteering Authority in GST, states that same has been constituted for a period of 2.....
Eye Share : Is levy of Compensation Cess on Coal legal or valid?
Recently, Delhi HC in Mohit Minerals Ltd. [TS-230-HC-2017(DEL)-NT], has granted an interim relief to the assessee by allowing transition credit of.....
Finmin extends GST Return filing due dates for ISD and overseas OIDAR service-providers
Finmin extends deadline for furnishing return in Form GSTR-5A for the month of July by a person supplying online information.....
Lottery tickets constitute 'goods' classifiable under "Any Chapter" of Customs Tariff, clarifies Finmin
Ministry of Finance (TRU) issues clarification with respect to classification and GST rate on lottery tickets pursuant to concerns over.....
GST on selling of ad-space in newspapers, dependent on contractual terms, clarifies Finmin
Govt. clarifies applicability of GST on selling of space for advertisement in print media, says that if advertisement agency works.....
Kerala Govt. explains Composition Scheme; Reverse charge applicable on purchases from unregistered suppliers
Kerala GST Dept. issues advisory on Composition Scheme, inter alia, explains the conditions, quantum of tax payable, procedure for availment.....
Finmin notifies lower rates & exemptions on specified services, including works contracts, GTA & job-work
Finance Ministry notifies reduction in GST rate to 12% for composite works contracts - (A) supplied to Govt. / local.....
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CBEC releases FAQs on applicability of GST to Government Services
CBEC releases a set of FAQs on applicability of GST to Government services; Clarifies that services provided by Police or.....
CBEC explains 'provisional assessment' process; Refund upon finalisation subject to 'unjust enrichment' test
CBEC explains ‘provisional assessment’ under GST regime, which is a method for determining tax liability in case the correct tax.....
Govt. notifies extension of date for filing Form GSTR-3B
Govt. notifies extension of deadline for filing GST return in Form GSTR-3B and payment of tax for July 2017; Accordingly,.....
CBEC explains modalities of credit & debit notes under GST, 'matching' with ITC reduction
CBEC explains the situations for issuing credit / debit notes viz. where supplier has erroneously declared value more / less.....
No Form GSTR-3B revision; Deemed credit available after Form GST TRAN-II filing, clarifies Govt.
Govt. issues clarification on tax payment, filing of Form GSTR-3B Return and transitional credit for July 2017; While explaining the.....
'Special Audit' where value declared incorrectly / credit availed outside normal limits, explains CBEC
CBEC explains concept of ‘Special Audit’ under GST regime, where registered person can be directed to get his books including.....
Govt. notifies GST rate reduction on tractor parts to 18%
Central Govt. notifies reduction in GST rate on specified tractor parts from 28% to 18%; These parts inter alia include.....
Karnataka Govt. appoints Authority for GST practitioner's enrollment; Notifies tractor parts rate reduction
Karnataka Govt. authorizes Additional Commissioner of Commercial Taxes (Revision and Recovery), Bengaluru to consider applications for enrollment as GST practitioner;.....
GST payment & returns due date extended to August 25
Govt extends GST payment deadline for the month of July to August 25; Taxpayers who do not want to avail.....
Karnataka GST Rules amended to prescribe procedure upon delayed filing of 'Form GSTR-3B'
Karnataka GST (Second Amendment) Rules 2017 inter alia amend Rule inter alia amend Rule 24 w.e.f. June 28 to allow cancellation of.....
FM urges States to reduce VAT burden on Petroleum Products used for manufacturing
Finance Minister Arun Jaitley urges States to reduce burden of VAT on Petroleum Products used as inputs in manufacture of.....
Govt. amends CGST Rules; Inter alia prescribes Challan validity, stock gold-ore bars ITC reversal
Govt. amends Central Goods & Services Tax Rules 2017, thereby extending the period to 90 days (from 60 days) for.....