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Author: CMA Bhogavalli Mallikarjuna Gupta

Certain important issues referred by GST Council to various Committees / GoM

Ministry of Finance Certain important issues referred by GST Council to various Committees / GoM Posted On: 22 DEC 2018 4:44PM by PIB Delhi The GST Council in its 31st meeting held today at New Delhi decided to refer the following issues to Committees / GoM indicated against them:   Extending the Composition scheme to small […]

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Recommendations made during 31st Meeting of the GST Council

Ministry of Finance Recommendations made during 31st Meeting of the GST Council Posted On: 22 DEC 2018 4:45PM by PIB Delhi The GST Council in its 31st meeting held today at New Delhi made the following policy recommendations: There would be a single cash ledger for each tax head. The modalities for implementation would be finalised in […]

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Formation of GoM as Recommended by the GST Council in Its 31st Meeting held on 22.12.2018.

Ministry of Finance Formation of GoM as Recommended by the GST Council in Its 31st Meeting held on 22.12.2018. Posted On: 22 DEC 2018 4:48PM by PIB Delhi The GST Council in its 31st meeting held today at New Delhi has approved the proposal to form a 7 Member Group of Ministers to study the revenue […]

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In-Principle approval given for Law Amendments during 31stMeeting of the GST Council

Ministry of Finance In-Principle approval given for Law Amendments during 31stMeeting of the GST Council Posted On: 22 DEC 2018 4:49PM by PIB Delhi   The GST Council in its 31st meeting held today at New Delhi gave in principle approval to the following amendments in the GST Acts:   Creation of a Centralised Appellate Authority […]

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Recommendations made during 31st Meeting of the GST Council held on 22nd December, 2018 (New Delhi)-Rate changes

Ministry of Finance Recommendations made during 31st Meeting of the GST Council held on 22nd December, 2018 (New Delhi)-Rate changes Posted On: 22 DEC 2018 4:50PM by PIB Delhi     GST Council in the 31st meeting held on 22nd December, 2018 at New Delhi took following decisions relating to changes in GST rates on goods and services. […]

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Decisions taken by the GST Council in the 31st meeting held regarding GST rate on services

Ministry of Finance Decisions taken by the GST Council in the 31st meeting held regarding GST rate on services Posted On: 22 DEC 2018 5:50PM by PIB Delhi GST Council in the 31stmeeting held on 22nd December, 2018 at New Delhi took following decisions relating to changes in GST rates, ITC eligibility criteria, exemptions andclarificationson connected […]

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Recommendations made during 31st Meeting of the GST Council held regarding Rate changes and clarification in Goods

Ministry of Finance Recommendations made during 31st Meeting of the GST Council held regarding Rate changes and clarification in Goods Posted On: 22 DEC 2018 5:51PM by PIB Delhi GST Council in the 31st meeting held on 22nd December, 2018 at New Delhi took following decisions relating to changes in GST rates, and clarification (on Goods). The […]

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FAQ – 19

What are the transactions i need to show in the Point F of Part II of FORM GSTR – 9C, “Trade Discounts accounted for in the audited Annual Financial Statement but are not permissible under GST” ? There could be some business cases where the discount being offered is not know at the time of supply […]

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TDS Impact on PSU-PSU Transactions

Tax Deduction at Source is applicable under GST from 1st of Oct 2018  wide Notification No. 50/2018-Central Tax, dated the 13th September 2018, on all transactions, if the contract value is above Rs 2.5 Lacs. The whole intention of rolling out of TDS is an anti-evasion measure. Being an anti-evasion measure the question arises is […]

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FAQ – 18

FAQ – 18 : In From GSTR – 9C, what is “Adjustments in turnover due to foreign exchange fluctuations” and in which cases do i need to fill it? It has to be filled by all taxpayers who have outward supplies in foreign currency and where they issue a tax invoice as well as a commercial invoice. […]

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