Return for Tax Deduction at Source

Return for Tax Deduction at Source – GSTR-07 – Final Rules (Draft) – Forms – GST – RETURNS – Final Draft Rules 3-6-2017 – GSTR-07 – Form GSTR-7 – Statutory Provisions, Acts, Rules, Regulations, Taxation

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Return for input service distributors

Return for input service distributors – GSTR-06 – Final Rules (Draft) – Forms – GST – RETURNS – Final Draft Rules 3-6-2017 – GSTR-06 – Form GSTR-6 – Statutory Provisions, Acts, Rules, Regulations, Taxation

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Return for Non Resident Taxable Persons

Return for Non Resident Taxable Persons – GSTR-05 – Final Rules (Draft) – Forms – GST – RETURNS – Final Draft Rules 3-6-2017 – GSTR-05 – Form GSTR-5 – Statutory Provisions, Acts, Rules, Regulations, Taxation

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Notice to return defaulter u/s 46

Notice to return defaulter u/s 46 – GSTR-03A – Final Rules (Draft) – Forms – GST – RETURNS – Final Draft Rules 3-6-2017 – GSTR-03A – Form GSTR – 3A – Statutory Provisions, Acts, Rules, Regulations, Taxation

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Monthly return

Monthly return – GSTR-03 – Final Rules (Draft) – Forms – GST – RETURNS – Final Draft Rules 3-6-2017 – GSTR-03 – Form GSTR-3 – Statutory Provisions, Acts, Rules, Regulations, Taxation

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Telephones and Radios

Goods and Services Tax – Started By: – Kuldeep Khera – Dated:- 6-6-2017 Last Replied Date:- 6-6-2017 – TELEPHONES: As per GST rules, Mobile Phones are classified under Clause 1 of Heading 8517 (Page 175). So GST rate is 12%.At the same times, Landline Phones (corded phones) are under Clause 7 of Heading 8517 (Page 177). So GST rate would be 18%.Presently Landline phones are under Heading 8517 and VAT is 5%. For MSME units, with turnover less than 1.5 Crores, Central Excise is exempted. Now everyone including MSME will have to pay 18% GST on Landline Phones. Cost of these telephones generally between ₹ 300 – 700. Mobile phones are with 12% GST. Please clarify this anomaly. AM/FM RADIOS: Presently these Radios which are generally indig

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Cash accounting method of Professional

Goods and Services Tax – Started By: – ANIL ANIKHINDI – Dated:- 6-6-2017 Last Replied Date:- 4-7-2017 – It is well settled principle that all professionals like CAs, CMAs, Advocates, CSs etc. follow cash accounting system as against mercantile accounting system. They are preparing bills against provision of services from time to time. But the receipt of fees from clients is certain as to period. Sometimes they may receive payments even after 6 months, especially in case of Govt. audit assignments. Moreover some of the clients deduct certain amount from the billed amount and pay short amount than invoice amount. So far they are following cash accounting system, as such it does not matter much. Even the service tax law at present also permit

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IL ANIKHINDI – The Reply = Yes Sir, But for individual and partnership firms, LLP it is allowed to pay on receipt basis u/r 6(1)- 4th proviso for turnover not exceeding ₹ 50 lakhs. What about these types of assesses under GST? – Reply By MARIAPPAN GOVINDARAJAN – The Reply = Which rule you are citing? – Reply By ANIL ANIKHINDI – The Reply = Rule 6(1) 3rd Proviso of Service Tax Rules 1994 – Reply By MARIAPPAN GOVINDARAJAN – The Reply = The facility available under third proviso to Rule 6(1) of Service Tax Rules, 1994 will not be available under GST regime. – Reply By Ankit Goyal – The Reply = I agree that receipt basis of accounting won't be available to professionals in GST era. However, my question is what about the bills raised p

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Can we sales our Raw Material to other party

Goods and Services Tax – Started By: – Swapneswar muduli – Dated:- 6-6-2017 Last Replied Date:- 10-6-2017 – Dear Experts,We are a manufacturer and registered under GST as a manufacturer.My Query we are purchase raw material from supplier and the same raw material can we sale to third party.It is allowable in GST or not ?.RegardsSwapneswar Muduli – Reply By MARIAPPAN GOVINDARAJAN – The Reply = It may be allowed but you can't take input tax credit. If you take input tax credit, it should be r

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24 States pass the State GST (SGST) Act While 7 States viz. Meghalaya,Punjab,Tamil Nadu, Kerala, Karnataka, Jammu & Kashmir and West Bengal have yet to pass the SGST Act

Goods and Services Tax – GST – Dated:- 6-6-2017 – Twenty Four (24) States have passed the State GST (SGST) Act till today i.e. 5th June, 2017 while 7 States viz. Meghalaya, Punjab,Tamil Nadu, Kerala, Karnataka, Jammu & Kashmir and West Bengal have yet to pass the State GST (SGST) Act . The details of the States which have passed the State GST Act till today are as follows: 7 States viz. Meghalaya, Punjab,Tamil Nadu, Kerala, Karnataka, Jammu & Kashmir and West Bengal have yet to pass the SGST Act. Sl. No. Name of the State Date on which SGST Act passed in the Assembly 1. Telangana Act Passed on 9th April 2017 2. Bihar Act Passed on 24th April, 2017 3. Rajasthan Act Passed on 26th April 2017 4. Jharkhand Act Passed on 27th April, 201

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PLACE OF SUPPLY OF SERVICES UNDER GST REGIME – PART II

Goods and Services Tax – GST – By: – Mr. M. GOVINDARAJAN – Dated:- 6-6-2017 – In the previous part the place of supply of services where location of supplier and recipient is in India has been discussed. In this part the place of supply of services where location of supplier or location of recipient is outside India. Section 13 (1) of the Integrated Goods and Services Tax Act, 2017 provides that the provisions of Section 13 shall apply to determine the place of supply of services where location of supplier of location of recipient is outside India. Place of supply of goods Section 13(3) provides that the place of supply of the following services shall be the location where the services are actually performed- services supplied in respect of goods which are required to be made- physically available by the recipient of services to the supplier of services; or to a person acting on behalf of the supplier of services in order to provide the services. When such services are provided from a

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e property, services for carrying out or co-ordination of construction work, including that of architects or interior decorators, shall be the place where the immovable property is located or intended to be located. Section 13(6) provides that where the above said services is supplied more than one location, including a location in the taxable territory, the place of supply shall be the location in the taxable territory. For admission or organization of an event Section 13(5) provides that the place of supply of services supplied by way of admission to, or organization of a cultural, artistic, sporting, scientific, educational or entertainment event, or a celebration, conference, fair, exhibition or similar events and of services ancillary to such admission or organization shall be the place where the event is actually held. Section 13(6) provides where the above said service is supplied at more than one location, including a location in the taxable territory, its place of supply shall

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rnal account and a non resident ordinary account. The explanation (b) to this section defines the expression banking company as having the same meaning as assigned to it under section 45A(a) of the Reserve Bank of India Act, 1934. Section 45A(a) of the Reserve Bank of India Act, 1934 defines the expression banking company as a banking company as defined in section 5 of the Banking Regulation Act, 1949 and includes the State Bank of India, any subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959, any corresponding new bank constituted by section 3 of the Banking Companies (Acquisition and Transfer of Undertak­ings) Act, 1970, and any other financial institution notified by the Central Government in this behalf. The explanation (c) to this section defines the expression non-banking financial company as- a financial institution which is a company; a non-banking institution which is a company and which has as its principal business the receiving of deposit

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, up to a period one month, shall be the location of the supplier of services. For transportation of goods other than mail or courier Section 13(9) provides that the place of supply of services of transportation of goods, other than by way of mail or courier, shall be the place of destination of such goods. For the passenger transportation services Section 13(10) provides that the place of supply in respect of passenger transportation services shall be the place where the passenger embarks on the conveyance for a continuous journey. Section 2(3) of the Act defines the expression continuous journey as a journey for which a single or more than one ticket or invoice is issued at the same time, either by a single supplier of service or through an agent acting on behalf of more than one supplier of service, and which involves no stopover between any of the legs of the journey for which one or more separate tickets or invoices are issued. The term stopover means a place where a passenger can

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dit card or debit card or store value card or charge card or smart card or any other card by which the recipient of services settles payment has been issued in the taxable territory; the billing address of the recipient of services is in the taxable territory; the internet protocol address of the device used by the recipient of services is in the taxable territory; the bank of the recipient of services in which the account used for payment is maintained is in the taxable territory; the country code of the subscriber identity module card used by the recipient of services is of taxable territory; the location of the fixed land line through which the service is received by the recipient is in the taxable territory. Power of Government Section 13(13) provides that in order to prevent double taxation or non taxation of the supply of a service, or for the uniform application of rules, the Government shall have the power to notify any description of services or circumstances in which the plac

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Mizoram may not be able to fully implement the GST on July 1: Minister

News and Press Release – Dated:- 5-6-2017 – Minister Aizawl, Jun 5 (PTI) Mizoram may not be able to fully implement the Goods and Services Tax (GST) with the rest of the country on July one, the date set for rolling out the new tax regime, state Taxation Minister Lalsawta today said. Lalsawta told PTI that though the officials were working on a war footing to be able to roll out the GST, but internet connectivity was the main stumbling block, not only in Mizoram but also in other states of the

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PM reviews progress towards beginning of GST on July 1

Goods and Services Tax – GST – Dated:- 5-6-2017 – Press Information Bureau Government of India Prime Minister's Office 05-June-2017 15:32 IST The Prime Minister, Shri Narendra Modi, today reviewed the status of GST, which is to be implemented from July 1. The meeting, which lasted for over two and a half hours, was attended by Finance Minister Arun Jaitley, and top-most officials from the Ministry of Finance, PMO and the Cabinet Secretary. In the course of the meeting, the Prime Minister specifically reviewed aspects of implementation such as IT readiness, HR readiness, training and sensitization of officers, query handling mechanism, and monitoring. The Prime Minister was informed that GST systems such as IT infrastructure, training o

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Utilisation of MEIS credit Script

We are manufacturer exporter of Aluminium cookware. We are in receipt of credit script under MEIS scheme. We understand that the script can be used for payment of custom duty and also payment of excise duty. We are not interested in importing raw material against payment of duty. Please clarify : 1. Can we credit the MEIS amount to our CENVAT/ GST input credit account 2. Can we pay GST payable on sale of our finished goods in the domestic market through our MEIS script 3. In either of above cases, will we still be required to get our script registered with the custom department as required when script is to be used for payment of duty against imports. – Reply By MUKUND THAKKAR – The Reply = 1. Can we credit the MEIS amount to

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GST practitioner – revised rules

Goods and Services Tax – Started By: – MARIAPPAN GOVINDARAJAN – Dated:- 5-6-2017 Last Replied Date:- 5-6-2017 – Dear all,The revised Return Rules provides that any person that he has been enrolled as a Sales Tax practitioner or tax return preparer under the existing law for a period of not less than five years is eligible to enrol as a GST practitioner. It is further provided that such person is to pass the required qualified examination which are made eligible to enrol as a GST practitioner.Th

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Refund to Exporter who are availing Drawback

Goods and Services Tax – Started By: – Ashok Chopra – Dated:- 5-6-2017 Last Replied Date:- 30-12-1899 – Respected Forum, I am exporter and availing drawback on my export (both BCD and Cenvat). After 01.07.2017 am i entitle for Refund of GST paid on input and input services. And also Drawback (both BCD and IGST) or it is option for me either go for Drawback (both BCD and IGST) or refund. Will i be entitle for Drawback (BCD) and Refund of GST paid on input and input services. Please guide me acco

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Renting of Immovable Property

Goods and Services Tax – Started By: – Ashok Chopra – Dated:- 5-6-2017 Last Replied Date:- 11-6-2017 – I have given property on rent in same state. W.E.F. 01-07-2017, how much SGST and CGST i should charge in the bill and my tenant can get adjust this input tax against their output supply. Please guide me. Thanks – Reply By KASTURI SETHI – The Reply = 18 % with input credit. – Reply By Ashok Chopra – The Reply = Sir, Straight away 18% to we should split 9% SGST and 9% CGST as we are providing t

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GST input adjustment

Goods and Services Tax – Started By: – arun aggarwal – Dated:- 5-6-2017 Last Replied Date:- 11-6-2017 – SIRAfter the implementation of GST I will be having GST input balance, as my finished product rate is less than the input GST rates.What option do I have 1 refund of input lying balance2 adjusting the same in the products where there is a reverse charge , like buying from Farmers and further sell the same.Tnx for the reply in advanceArun – Reply By Himansu Sha – The Reply = Reverse charge is

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