Book on GST (GOODS & Services Act)

BOOK ON GST (May Edition) HARD BOOK/ PAPER BACK COVERS ANALYSIS ON GST updated till June 3, 2017 TO BE SHIPPED WITHIN 24 HOURS INVOICE TO BE SENT ALONG WITH BOOK SHIPMENT DETAILS TO BE SENT ON EMAIL PRICE: RS. 500/- (FREIGHT RS. 150/-) TO PURCHASE: CLICK HERE E-BOOK COVERS ANALYSIS ON GST updated till June 3, 2017 TO BE SENT WITHIN 24 HOURS INVOICE TO BE SENT ALONG WITH BOOK ON EMAIL PRICE: RS. 450/- TO PURCHASE: CLICK HERE

IGST exemption to SEZs on import of Goods by a unit/developer in an SEZ

  [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 64/2017- Customs New Delhi, the 5th July, 2017 G.S.R.—- (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts all goods imported by a unit or a developer in the Special Economic Zone for authorised operations, from the whole of the integrated tax leviable thereon under sub-section (7) of section 3 of the Customs Tariff Act, 1975 (51 of 1975) read with section 5 of the Integrated Goods and Service Tax Act,

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Press Release dt 05.07.2017 regarding meaning of registered brand name in the context of GST rates

  PRESS RELEASE The CGST rate on supply of certain goods, such as chena or paneer, natural honey, wheat, rice and other cereals, pulses, flour of cereals and pulses, other than those put up in unit container and bearing a registered brand name, is Nil. Supply of such goods, when put up in unit container and bearing a registered brand name attracts 2.5% CGST rate. 2. Doubts are being raised as to the meaning of registered brand name. In this context, the Notification No.1/2017-Central Tax (Rate), dated 28.06.2017 [which notifies the CGST rates of intra-state supply of goods] and notification No.2/2017-Central Tax (Rate), dated 28.06.2017 [which exempts intra-state supply of the specified goods] clearly defines “registered brand name” as brand name or trade name, which is registered under the Trade

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Press release on GST rate for specified items for Physically Challenged Persons

PRESS RELEASE On GST rate for specified items for Physically Challenged Persons Some questions are raised about GST rates fixed for specific devices for physically challenged persons. This matter is explained here in below. Assistive devices and rehabilitation aids for physically challenged persons, listed below, have been kept at the concessional 5% GST rate: 1) Braille writers and braille writing instruments; 2) Handwriting equipment like Braille Frames, Slates, Writing Guides, Script Writing Guides, Styli, Braille Erasers 3) Canes, Electronic aids like the Sonic Guide; 4) Optical, Environmental Sensors; 5) Arithmetic aids like the Taylor Frame (arithmetic and algebra types), Cubarythm, Speaking or Braille calculator; 6) Geometrical aids like Combined Graph and Mathematical Demonstration Board, Braille Protractors, Scales, Compasses and Spar Wheels; 7) Electronic measuring equipment such as Calipers, Micrometers, Comparators,

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Exporters need not pay IGST if bond/undertaking furnished 

Exporters can furnish bond or letter of undertaking instead of paying Integrated GST at the time of exporting goods and services with effect from July 1. In case the IGST has been paid, the exporters can seek refund of the tax paid, according to a Customs circular on export procedure in the GST regime. IGST is levied on the supply of any goods and services in the course of inter-state trade or commerce. As per the IGST Act, export and import of goods and services are deemed to be a supply in the course of inter-state trade or commerce. “Supplies of goods and services for exports have been categorised as ‘Zero Rated Supply’ implying that goods could be exported under bond or Letter of Undertaking without payment of integrated tax

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CGST: List of goods on which tax is payable under Reverse charge

  [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 4/2017-Central Tax (Rate) New Delhi, the 28th June, 2017 G.S.R. (E).- In exercise of the powers conferred by sub-section (3) of section 9 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby specifies the supply of goods, the description of which is specified in column (3) of the Table below and falling under the tariff item, subheading, heading or Chapter, as the case may be, as specified in the corresponding entry in column (2) of the said Table, made by the person as specified in the corresponding entry in

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CGST: Supplies of goods for which refund of unutilised ITC not allowed

  Supplies of goods in respect of which no refund of unutilised input tax credit shall be allowed under section 54(3) of the Central Goods and Services Tax Act, 2017 [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 5/2017-Central Tax (Rate) New Delhi, the 28th June, 2017 G.S.R. (E).- In exercise of the powers conferred by clause (ii) of the proviso to sub-section (3) of section 54 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby notifies the goods, the description of which is specified in column (3) of the Table below and falling under the tariff item,

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Refund of 50% of CGST on supplies to CSD under section 55

  [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 6/2017-Central Tax (Rate) New Delhi, the 28th June, 2017 G.S.R. (E).- In exercise of the powers conferred by section 55 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby specifies the Canteen Stores Department (hereinafter referred to as the CSD), under the Ministry of Defence, as a person who shall be entitled to claim a refund of fifty per cent. of the applicable central tax paid by it on all inward supplies of goods received by it for the purposes of subsequent supply of such goods to the Unit

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Exemption from CGST supplies by CSD to Unit Run Canteens

  Exemption from CGST supplies by CSD to Unit Run Canteens and supplies by CSD / Unit Run Canteens to authorised customers notified under section 11 (1) and section 55 CSD GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 7/2017-Central Tax (Rate) New Delhi, the 28th June, 2017 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 11 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on being satisfied that it is necessary in the public interest so to do, on the recommendations of the Council, hereby exempts, supplies of goods, the description of which is specified in column (3) of the Table below, falling under the tariff item, sub-heading, heading or Chapter, as the case

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CGST exemption from reverse charge upto Rs.5000 per day

  [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 8/2017-Central Tax (Rate) New Delhi, the 28th June, 2017 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 11 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on being satisfied that it is necessary in the public interest so to do, on the recommendations of the Council, hereby exempts intra-State supplies of goods or services or both received by a registered person from any supplier, who is not registered, from the whole of the central tax leviable thereon under sub-section (4) of section 9 of the Central Goods and Services Tax

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