News
Finmin warns builders of 'profiteering'; Reduced tax incidence should lower flat price / installments
Ministry of Finance issues clarification in light of apprehensions of buyers of under construction flats, complex that they may face.....
GST enrolment to reopen on June 25; States record higher migration
GST enrolment to reopen on June 25 and continue beyond July 1; As on today, GSTN records 54.4% enrolment of.....
GST Council to consider remaining draft Rules / formats including Anti-profiteering, during next meeting
Next GST Council meeting to consider draft GST Rules and related Forms for (i) Advance Ruling, (ii) Appeals and Revision,.....
Finmin allows unavailed CENVAT credit towards assigned rights to use natural resources
Finance Ministry amends Rule 4(7) of CENVAT Credit Rules, 2004 to allow unavailed CENVAT Credit in respect of services provided.....
Tamil Nadu Assembly passes State GST Bill
Tamil Nadu passes State GST Bill amidst ruckus in Assembly; Becomes 26th State to adopt the new regime.....
GST Funda : Concept of ‘Invoicing’
Under GST law, when a registered person supplies taxable goods or services, a 'tax invoice' needs to be issued. A.....
DGFT mandates GSTIN declaration post GST implementation; PAN to replace 'Importer Exporter Code'
DGFT explains changes in Importer Exporter Code (IEC) with introduction of GST, requires importers / exporters to declare GSTIN at.....
Revenue Secretary & CBEC brush aside "false propaganda" about delayed GST implementation
Revenue Secretary Dr. Hasmukh Adhia lays to rest rumors regarding GST implementation beyond July 1; Tweets, “The rumours about GST.....
Assam Govt. issues guidelines for GST Practitioners enrolment
Assam Govt. issues guidelines for enrolment as GST practitioners, states that process of enrolment will commence from June 17; Laying out.....
Accounts & Records Rules require manufacturers, agents, work-contractors, transporters to maintain detailed accounts
Final ‘Accounts & Record Rules’ require every registered person to maintain true and correct account of goods / services imported.....
GST rates revised for 69 products, Individual advocates exempt from registration; IGST exemption extended
CBEC releases revised rates for 69 products as approved during GST Council meeting on June 11; IGST exemption also extended.....
CBEC releases final Accounts & Records Rules, modified Registration Rules
CBEC releases Accounts and Records Rules and related formats as approved by GST Council today; Also releases modified Registration Rules.....
GST Council increases composition scheme threshold; Revisits rates for certain commodities
16th GST Council meeting concludes, annual turnover threshold for purpose of availing composition scheme increased to Rs. 75 lakhs from.....
Puducherry GST Act receives Lieutenant-Goveror's assent
Lieutenant-Governor, Puducherry grants assent to Puducherry Goods & Services Tax Act 2017 on June 1, 2017; Said Act provides for.....
18 Sectoral Groups formed for smooth GST rollout
GST Council constitutes 18 Sectoral Groups for smooth roll-out of GST; These Groups representing various sectors of economy containing Officers of.....
Ex-factory interstate sale liable to IGST; Balance credit in ST-3 to be transferred
Ex-factory sale to buyer located in another State would be liable to IGST as inter-state supply, tweets Govt / CBEC;.....
CBEC / Govt. tweets regarding GST on employee gifts, banking services & reporting of exempted supplies
Govt. / CBEC clarifies on twitter that GST would not apply to services provided by bank located outside India to.....
Transition Rules extend time-limit, notional ITC upto 60% where GST rates above 18%
GST Rules on ‘Transition’ extend the time limit for claiming Input Tax Credit of carried forward taxes and duties in.....
CBEC releases Transition Rules, formats & Credit Transfer Document draft rule
CBEC releases final Transition Rules and formats thereof as approved by GST Council on June 3, alongwith draft rule for.....
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Cabinet Secretary calls for GST Facilitation Cell to address business / sector issues before roll-out
Cabinet Secretary P. K. Sinha asks different Ministries / Depts. & PSUs under these Ministries to set-up and activate GST.....