Goods and Services Tax – Started By: – Jasbir Uppal – Dated:- 9-4-2017 Last Replied Date:- 10-4-2017 – Dear professionals we are facing problems in migration to G.S.T. A person who is partner in more then one firm and also registered as a taxable service provider in service tax act. He has used his DSC in one firm as a authorized person. But he is also authorized by the partners of the other firm where he is a partner. When we plug his DSC for verification of migration to GST of all these firm the portal is not accepted he DSC because the DSC is already used. In the company case a person other then director is authorized for migration in GST and the resolution of the company has been up loaded on portal during the process of migration. But when we plug his DSC on the site, then asked the DIN no. His DIN no is not be allotted because he is not a director of the company. A dealer who has opted compounding as a trader in VAT and paid compounding fee on his turnover of sale. Can such deal
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on in GST and the resolution of the company has been up loaded on portal during the process of migration. But when we plug his DSC on the site, then asked the DIN no. His DIN no is not be allotted because he is not a director of the company. please use authorized person DSC not director. A dealer who has opted compounding as a trader in VAT and paid compounding fee on his turnover of sale. Can such dealer can claim Input tax credit on the date of informant of G.S.T. i.e. 01.07. 2017. credit of eligibility duties and taxes on inputs held in stock to be allowed to a taxable person switching over from composition scheme under vat law . In civil work construction dealers are eligible to take input tax for material consumed for execution of work and adjusted on output tax liability. But in G.S.T. civil work treated as services. Whether such dealers are eligible to take input tax credit on material consumed. No credit in input if works under work contract.. – Reply By madina kapoor – The Rep
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ime Minister has approved the Integrated GST, Central GST, Union Territory GST and GST Compensation bills on March 20, 2017. These four bills will now have to be passed by the Parliament. It is expected that the bills will be introduced in the Parliament early next week as a money bill (note that the Rajya Sabha does not have the power to amend or reject money bills and is required to return it to the Lok Sabha within 14 days). Should the July 1, 2017 target for the introduction of GST in India be met, the Parliament will have to pass these bills before the end of the budget session (on April 12, 2017). Earlier, on March 16, 2017, the GST Council had approved the draft State GST law as well. All States will have to introduce the draft law as a bill before the respective State legislatures. Given that all decisions relating to the model GST laws were taken by consensus at the GST Council (and not by voting), it is hoped that States will adopt the State GST law in letter and spirit, with
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o be examined are: Services provided between establishments of same entity without invoice or payment in certain sectors with high volumes of transactions with operations spread on a country-wide basis; Compliance challenges for small and medium sector in an automated environment with end-to-end matching of invoices; Issues raised by sectors employing large work force and with vast disparity, e.g., textiles; Special regime in sectors with disproportionate high value with relatively lesser value addition and large number of job workers; Cascading due to the exclusion of certain products from the GST and commitments relating fiscal stability clause in Production Sharing Contracts; Issues due to existing abatements in transport sector together with compliance challenges; Critical infrastructure of the country; Exports, including value addition and manufacturing in domestic tariff area (DTA) for export /EOUs and SEZs; Government services to obtain clarity as to what constitutes a taxable s
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over how a decentralised registration system of registration and assessment would prove to be a compliance nightmare for the service sector. For instance, today an insurance company hold a single centralised service tax registration and filed two returns annually. Under GST, an insurance company will have to obtain registration in every State where it provides insurance services, and file thirty seven returns per State annually. Considering these representations, the GST Council is deliberating on the proposal of centralized assessment interface for such service industries. This will potentially reduce the compliance burden on taxpayers operating in these industries. GST on petroleum products and land The Finance Minister in the Rajya Sabha yesterday said that the Government is keen to roll out the GST on July 1, 2017. Therefore, the other aspects such as inclusion of petroleum products and land within the ambit of GST will be considered after the first year of implementation of GST.
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