Businesses can upload sale, purchase invoices on GSTN portal from July 24
Posted Date : 16-Jul-2017 , 08:18:35 pm | Posted By CASANSAAR
Businesses can start uploading their sale and purchase invoices generated post July 1 on the GSTN portal from July 24, a top company official said today.
The Goods and Services Tax has kicked in from July 1 and so far, the GST Network, the company handling the IT backbone for new tax regime, has ...
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No action against lawyers, law firms for GST non-compliance - Delhi HC
Posted Date : 15-Jul-2017 , 07:03:02 am | Posted By CASANSAAR
The Delhi High Court has directed the Centre not to take any coercive steps against lawyers and law firms for not registering or complying with the Central Goods and Services Tax (CGST) Act, Integrated Goods and Services Tax (IGST) Act or the Delhi Goods and Services Tax (DGST) Act, till a clarifica...
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Taxpayers have to opt for GST composition scheme by July 21
Posted Date : 15-Jul-2017 , 06:51:30 am | Posted By CASANSAAR
Small businesses with turnover of up to Rs 75 lakh have time till July 21 to opt for composition scheme under the Goods and Services Tax regime, GST Network said..
To opt for composition scheme, the taxpayer needs to log into his account at the GST Portal www.gst.gov.in and select 'Applicatio...
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No GST on housing society RWA with Rs 5K/month subscription
Posted Date : 14-Jul-2017 , 07:31:59 am | Posted By CASANSAAR
Services provided by housing societies resident welfare association will not become expensive under the Goods and Services Tax (GST) regime, the finance ministry said today.
Resident welfare association will be required to pay GST on monthly subscription/contribution charged from its members if s...
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Services by educational institution to students, faculty and staff are exempt from GST
Posted Date : 13-Jul-2017 , 10:39:02 pm | Posted By CASANSAAR
No GST on Annual subscription/fees charged as lodging/boarding charges by educational institutions from its students for hostel accommodation;
Services provided by an educational institution to students, faculty and staff are fully exempt from GST.
There are some reports th...
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GST - No Reverse Charge on Sale of old jewellery by an individual to a jeweller
Posted Date : 13-Jul-2017 , 10:17:47 pm | Posted By CASANSAAR
Further clarification on tax in reverse charge on gold ornaments;
Sale of old jewellery by an individual to a jeweller will not make the jeweller liable to pay tax under reverse charge mechanism on such purchases;
However, if an unregistered supplier of gold ornaments sells it to registered ...
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Bombay High Court dismisses plea on GST
Posted Date : 12-Jul-2017 , 09:30:13 am | Posted By CASANSAAR
The Bombay High Court on Tuesday dismissed a public interest litigation seeking deferring the implementation of the Goods and Services Tax (GST) till the beginning of the next financial year.
The petition, filed by retired professor K S Pillai, had challenged the Union government’s decision...
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No GST is applicable on free food supplied in anna kshetras run by religious institutions
Posted Date : 11-Jul-2017 , 06:55:39 pm | Posted By CASANSAAR
No GST is applicable on free food supplied in anna kshetras run by religious institutions; prasadam supplied by religious places like temples, mosques, churches, gurudwaras, dargahs, etc. attracts Nil CGST and SGST or IGST, as the case may be.
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GST to apply on rental income beyond Rs 20 lakh - RS
Posted Date : 11-Jul-2017 , 07:09:55 am | Posted By CASANSAAR
Rental income from residential property has been exempt from the goods and services tax (GST) but any earning over Rs20 lakh annually from renting or leasing for commercial purposes would attract the levy.
Revenue secretary Hasmukh Adhia said that if the house property is rent out for shop or off...
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Govt clarifies GST rate for Sanitary Napkins
Posted Date : 10-Jul-2017 , 10:38:02 pm | Posted By CASANSAAR
There are some remarks made by various column writers on GST rate on sanitary napkins. It may be mentioned that the tax incidence on this item before and after GST is the same or less.
Sanitary napkins are classifiable under heading 9619. In pre-GST, they attracted concessional excise duty ...
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Gifts up to a value of Rs 50,000/- per year by an employer to his employee are outside the ambit of GST
Posted Date : 10-Jul-2017 , 10:34:27 pm | Posted By CASANSAAR
It is being reported that gifts and perquisites supplied by companies to their employees will be taxed under GST. Gifts upto a value of Rs 50,000/- per year by an employer to his employee are outside the ambit of GST. However, gifts of value more than Rs 50,000/- made without consideration are subje...
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FM launches a Mobile App GST Rates Finder to help users to find rates of GST for various goods and services
Posted Date : 08-Jul-2017 , 09:32:47 pm | Posted By CASANSAAR
The Central Board of Excise and Customs (CBEC) takes certain initiatives for Ease of Doing Business under the GST regime; Finance Minister Shri Arun Jaitley launches a Mobile App “GST Rates Finder” to help users to find rates of GST for various goods and services.
The ...
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Clarification on Migration, New Registration, Opting for Composition Scheme and Issue of Bills of Supply
Posted Date : 08-Jul-2017 , 09:30:33 pm | Posted By CASANSAAR
The Rules related to Registration and Composition Scheme have been notified on 19th June, 2017. These Rules have been brought into effect from 22nd June, 2017. The intent of notifying these rules is to start the process of issue of registration certificate, called Goods and Services Tax Identificati...
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Print post-GST rates on items or go to jail, government warns traders
Posted Date : 08-Jul-2017 , 08:36:48 am | Posted By CASANSAAR
The government on Friday warned manufacturer, importer and sellers of pre-packaged goods of penalties ranging from fines of up to Rs 1 lakh or prison terms up to a year for repeat offence of not printing the post-GST rates on product labels. The consumer affairs ministry has come out with the new no...
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Multiple registrations in GST allowed under one PAN - Revenue Secretary
Posted Date : 07-Jul-2017 , 08:24:53 am | Posted By CASANSAAR
Enlisting the two exceptions for the condition of one registration in one state for one PAN (Permanent Account Number), revenue secretary Hasmukh Adhia clarified that firms with multiple business verticals can choose to apply for multiple registrations on the Goods and Services Tax (GST) Network. Du...
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CGST won't apply on items not registered under trademark law
Posted Date : 06-Jul-2017 , 08:07:25 am | Posted By CASANSAAR
The government said 5 per cent Central GST will not apply to products that are not registered under the Trade Marks Act.
Finance Ministry in a statement said CGST rate on supply of certain goods such as paneer, natural honey, wheat, rice and other cereals, pulses, flour of cereals and pulses is z...
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J&K Assembly passes resolution to implement GST in the state
Posted Date : 05-Jul-2017 , 05:21:00 pm | Posted By CASANSAAR
The Jammu and Kashmir Legislative Assembly adopted the Goods and Services Tax (GST) resolution during a special session on Wednesday.
The state assembly passed the landmark tax reform during a special session, after two days of heated exchanges and fiery debates between BJP members and the opposi...
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Six Days GST Ki Master Classes on DD National - CBEC
Posted Date : 05-Jul-2017 , 08:38:28 am | Posted By CASANSAAR
GST-KI-Master Class to be held on six days covering issues relating to Registration & Migration Transition & Invoice Making, Composition and Record Keeping; To be telecast Live on DD National and other Channels.
Department of Revenue, Government of India and the Central ...
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GST rate for specified items for Physically Challenged Persons
Posted Date : 04-Jul-2017 , 04:45:26 pm | Posted By CASANSAAR
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:
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Cabinet Secy asks secretaries of various depts to ensure smooth implementation of GST
Posted Date : 04-Jul-2017 , 09:04:07 am | Posted By CASANSAAR
Cabinet Secretary P K Sinha held a review meeting to take stock of implementation of the GST. The Cabinet Secretary asked secretaries of various departments to give their feedback on the rollout of GST.
Mr. Sinha asked every Secretary to take-up the responsibility of addressing the GST rela...
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GST - India's biggest ever tax reform launched
Posted Date : 01-Jul-2017 , 06:36:42 am | Posted By CASANSAAR
The biggest ever tax reforms in the country's history, the Goods and Services Tax (GST) came into effect from midnight.
The historic launch of GST was done at the Central Hall of Parliament where President Pranab Mukherjee and Prime Minister Narendra Modi launched the new regime by pres...
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President of India addresses special function in Parliament organized to launch GST
Posted Date : 01-Jul-2017 , 06:34:44 am | Posted By CASANSAAR
The President of India, Shri Pranab Mukherjee graced a special function organized to launch the Goods and Services Tax (GST) in the midnight of June 30- July1, 2017 in the Central Hall of Parliament House, New Delhi.
Speaking on the occasion, the President said that the introduction of GST ...
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GST implementation will remain a challenge for Govt
Posted Date : 30-Jun-2017 , 08:44:29 am | Posted By CASANSAAR
On the eve of launch of the Goods and Services Tax (GST), ADB president Takehiko Nakao said its a good initiative but its implementation will remain a challenge for the government.
"There can be some transitional issues like filing of returns and its scrutiny...another issue might be that of...
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Govt starts notifying provisions of GST acts, amends rules
Posted Date : 29-Jun-2017 , 08:38:50 am | Posted By CASANSAAR
With two days left for roll out of GST, the Finance Ministry has started notifying various provisions of law relating to interest calculation, input tax credit and valuation.
Provisions in the Central GST Act (CGST), Integrated GST (IGST) Act and Union Territory GST Act and rules under them are b...
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Government issues notification for roll out of GST from Saturday
Posted Date : 29-Jun-2017 , 08:36:34 am | Posted By CASANSAAR
Government has notified roll out of Goods and Services Tax (GST) from 1st of next month, the GST will subsume a host of indirect levies like excise, service tax and VAT.
A special programme will be held in Central Hall of Parliament tomorrow midnight for the launch of new indirect tax regime. Pre...
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GST software testing done - GSTN
Posted Date : 28-Jun-2017 , 08:06:01 am | Posted By CASANSAAR
GST Network, providing technology backbone for the new tax regime, said it has completed all software trials and testings necessary to successfully rollout GST from July 1. Over 66 lakh taxpayers have enrolled on the GSTN portal, chairman Navin Kumar said.
“GST IT system has undergone...
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No GST on railway tickets booked before July 1
Posted Date : 27-Jun-2017 , 08:00:24 am | Posted By CASANSAAR
The Goods and Service Tax (GST), set to kick in on July 1, will replace service tax for all airconditioned and first class railway tickets.
However, tickets booked before July 1 for journeys starting on or after that date will not attract the tax and the difference in service tax and GST will not...
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Union Finance Minister urges CM Membooba Mufti Sayeed to implement GST in the State
Posted Date : 26-Jun-2017 , 09:08:51 pm | Posted By CASANSAAR
The Union Finance Minister Sh. Arun Jaitley today has written a letter to the Chief Minister of the State of Jammu and Kashmir, Membooba Mufti Sayeed urging for introduction of the goods and services tax in Jammu and Kashmir from 1st July, 2017 along with the rest of the States.
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Postponement of provision relating to TDS and TCS of the CGST / SGST Act 2017
Posted Date : 26-Jun-2017 , 07:10:44 pm | Posted By CASANSAAR
With the objective of ensuring smooth rollout of GST and taking into account the feedback received from the trade and industry regarding the provisions of deduction of tax at Source under Section 51 of the CGST / SGST Act 2017 and collection of tax at source under Section 52 of the CGST / SGST Act 2...
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Traders want ombudsman for redressal of GST grievances
Posted Date : 26-Jun-2017 , 07:07:58 pm | Posted By CASANSAAR
Traders' body CAIT today demanded setting up of an 'impartial authority' like an ombudsman or Lokpal, whom businessmen can voice their grievances related to the Goods and Services Tax (GST) and seek redressal.
"At present if I have a taxation-related grievance, the appellate auth...
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