Reduction/exemption of tax rates under GST for small businesses
Posted Date : 01-Aug-2017 , 09:55:27 pm | Posted By CASANSAAR
The Government has received representations from small businesses relating to exemption from GST, reduction in applicable rates of GST, and product and area wise exemptions. The GST rates on supply of goods and services have been notified based on the recommendations of the GST Council. The tax rate...
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Government sets up two call centres to cater to the queries relating to GST
Posted Date : 01-Aug-2017 , 09:51:40 pm | Posted By CASANSAAR
Government has set up two call centres being run for the purpose of catering to queries of taxpayers and stakeholders in GST.
i. Call centre on GST Application software prepared by GSTN, is being run by GSTN. Phone number is 0120-4888999 and email id is helpdesk@gst.gov.in
ii. CBEC Mitra Helpd...
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Over 5 lakh businesses opt for GST Composition Scheme - RS
Posted Date : 31-Jul-2017 , 10:16:46 pm | Posted By CASANSAAR
Union Revenue Secretary Hasmukh Adhia on Monday said as many as 5.12 lakh businesses have so far opted for the Composition Scheme under the GST system.
"Dealers opting for composition in the Goods and Services Tax (GST) system is 5.12 lakh up to Sunday (July 30)," the Revenue Secretary ...
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Embroidered sarees to attract 5% GST - CBEC
Posted Date : 31-Jul-2017 , 10:07:12 pm | Posted By CASANSAAR
Sarees, whether designer or embroidered, will attract a five per cent Goods and Services Tax (GST), the tax department said today.
Clearing the air over whether sarees will be treated as garments or fabric, the Central Board of Excise and Customs (CBEC) said sarees are treated as fabric and it re...
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GST - Sale of bottled water on same rate Post GST
Posted Date : 29-Jul-2017 , 07:28:38 am | Posted By CASANSAAR
On account of implementation of GST there may be instances where the retail sale price of a pre-packaged commodity is required to be changed. Department of Consumer Affairs has therefore issued an advisory on the matter.
Further, vide this advisory it has been informed inter alia, that for ...
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GST |
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GST - Printing of Post-GST Rates on Old Stock
Posted Date : 29-Jul-2017 , 07:26:56 am | Posted By CASANSAAR
On account of implementation of GST there may be instances where the retail sale price printed on a pre-packaged commodity is required to be changed. The Department has issued an order according to which, manufacturers/ packers/ importers of pre-packaged commodities are allowed to declare the revise...
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Benefits of the reduced rates/tax rebate to the consumers post GST
Posted Date : 28-Jul-2017 , 10:15:04 pm | Posted By CASANSAAR
The GST Council comprising the representatives of Central and State Government recommended the GST rates for goods and services, interalia taking into account the pre-GST indirect taxes incidence on goods and service. The GST rates on goods have since been notified. With the GST rates so notified th...
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GSTN portal begins invoice uploading for businesses
Posted Date : 25-Jul-2017 , 08:26:13 am | Posted By CASANSAAR
The GSTN portal has started accepting uploading of sale and purchase invoices of businesses generated post Goods and Services Tax rollout on July 1.
GST Network (GSTN) is the company handling the IT backbone for the new tax regime.
The uploaded invoice data can be saved at the port...
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GST - Mobile vans to educate traders about GST
Posted Date : 24-Jul-2017 , 07:56:49 am | Posted By CASANSAAR
Delhi government will be launching six mobile vans on Monday to tour the city's markets and attempt to help traders with issues related to GST.
The decision to start the vans was announced by deputy chief minister Manish Sisodia about 10 days back after he received feedback that several small...
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Government draws up checklists for GST Audits
Posted Date : 21-Jul-2017 , 06:18:26 am | Posted By CASANSAAR
The Centre has created a detailed road map for goods and services tax (GST) audits barely 20 days after the levy’s rollout, listing risks, target industries and even potential auditees for officials examining corporate India’s transition to the new regime.
In the past ...
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Cabinet approves Integrated Goods and Services Tax (Amendment) Bill, 2017
Posted Date : 19-Jul-2017 , 10:53:41 pm | Posted By CASANSAAR
The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its ex-post facto approval for the promulgation of the Integrated Goods and Services Tax (Extension to Jammu & Kashmir) Ordinance, 2017 and replacement of the Ordinance by the Integrated Goods and Services Tax (Amendment) B...
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Cabinet approves Central Goods and Services Tax (Amendment) Bill, 2017
Posted Date : 19-Jul-2017 , 10:51:45 pm | Posted By CASANSAAR
The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its ex-post facto approval for the promulgation of the Central Goods and Services Tax (Extension to Jammu & Kashmir) Ordinance, 2017 and replacement of the Ordinance by the Central Goods and Services Tax (Amendment) Bill, 2...
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GST win-win deal for all - Finance Minister
Posted Date : 19-Jul-2017 , 05:15:25 pm | Posted By CASANSAAR
Finance Minister Arun Jaitley today described the Goods and Services Tax (GST) as a "win- win" deal for all as it will expand the tax net, end "inspector raj" and bring down prices of goods.
Pitching the GST as a measure beneficial for the country at a meeting of the BJP parli...
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GST - Increase in the Compensation Cess rate on cigarettes
Posted Date : 18-Jul-2017 , 10:54:16 am | Posted By CASANSAAR
In pursuance of the recommendations of the GST Council in its 14th Meeting held on 18.05.2017 and 19.05.2017, the Compensation Cess rates under Section 8 (2) of the Goods and Services Tax (Compensation to States) Act, 2017, was notified vide notification No.1/2017-Compensation Cess (Rate), date...
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GST - Growing Stronger Together
Posted Date : 17-Jul-2017 , 04:50:22 pm | Posted By CASANSAAR
Prime Minister Narendra Modi today hoped the "growing stronger together" spirit of GST will bring enthusiasm to Parliament proceedings and that political parties will engage in high standard of debate and provide value addition during the Monsoon session.
Terming the start of the sessio...
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GST Council meet today to take stock of implementation
Posted Date : 17-Jul-2017 , 08:12:49 am | Posted By CASANSAAR
Two weeks into the new levy, the Goods and Services Tax Council will meet on Monday to review its implementation.
“The 19th meeting of GST Council under the chairmanship of Finance Minister Arun Jaitley will be on Monday,” said the Finance Ministry.
However, this meeting will be he...
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Govt asks businesses to register under GST by July 30
Posted Date : 16-Jul-2017 , 08:22:21 pm | Posted By CASANSAAR
The government on Saturday asked traders to get registered under the Goods and Services Tax (GST) regime by 30 July.
Traders with turnover of below Rs20 lakh or those engaged exclusively in the supply of exempted goods or services need not register under the new tax regime that kicked in from 1 J...
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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 |
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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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GST |
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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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