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Latest changes in GST

The basis of the 28th GST Council Meeting, the changes proposed are passed as bills in the Lok Sabha on 9th August 2018. The Central Goods and Services Tax (Amendment) Bill, 2018 The Goods and Services Tax (Compensation to States) Amendment Bill, 2018 The Integrated Goods and Services Tax (Amendment) Bill, 2018 The Union Territory […]

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GST TIP – 447

As per Circular No. 05/2018-Customs, Exporters have to file GSTR 3B with taxable value for export and IGST paid against exports indicated in appropriate fields before filing of the application for the refunds by the taxpayer under GST.

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GST TIP – 444

As per Circular No 34 dated 1 st March 2018, the services provided by DISCOMS such as application fee for releasing connection of electricity, rental charges on meters, testing fee on meters, capacitors or transformers, labor charges, charges collected for issue of duplicate bill are considered as taxable supplies and GST is to be levied […]

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26th Meeting of the GST Council meets & decides Extension of tax exemptions for exporters for six months

26th Meeting of the GST Council meets & decides Extension of tax exemptions for exporters for six months Sending a strong positive signal to the exporting community, the GST Council in its 26thmeeting held here today decided to extend the available tax exemptions on imported goods for a further 6 months beyond 31.03.2018. Thus, exporters […]

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GST TIP – 443

As per Circular No 34 dated 1 st March 2018, clarifies that Priority Sector Lending Certificates are not classified as securities, therefore GST is applicable on the same and ITC can be claimed accordingly.

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GST TIP – 441

As per Circular No 34 dated 1 st March 2018, bus body building is considered as Composite Supply and based on the contract to contract, the principal supply is to be determined and basis on which GST will be determined as supply of goods or services.

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Demystifying Anti-profiteering in GST

Demystifying Anti-profiteering in GST Anti-profiteering is introduced in the GST Act based on the experience gained at the time of implementation of VAT in India and all other countries where GST / VAT is rolled out. The Government across the world felt that the until and unless there is a provision in the law the […]

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Circular No. 05/2018-Customs

Customs department has issued a detailed Circular No. 33/07/2018-GST on the process of refunds for the exporters under GST. It details about the process of filing of returns along with the common errors and also how to rectify the same.  

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GST Council recommends relief in GST on Circus, Dance and Theatrical Performances

Threshold Exemption under GST for admission to such cultural and sports events in the country increased from Rs. 250 to Rs. 500 per person In its Meeting held on 18th January, 2018, the GST Council has recommended that for the purpose of GST exemption, the threshold price limit of Admission Ticket for circus, dance,theatrical performances including […]

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GST Tip – 415

New taxpayers who have taken registration after 1st July 2017, can cancel their registration number using FORM GST REG – 16 on the common portal.

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