FinMin seeks public comments on GST rules
GST
Dated:- 3-4-2017
New Delhi, Apr 2 (PTI) The Finance Ministry today placed 8 set of rules in public domain, which will be applicable once the Goods and Services Tax (GST) is implemented from July 1.
\nThe government has sought comments from industry on the 4 set of new rules on GST Composition, GST Valuation, GST Transition and GST ITC.
\nThese rules had received the “tentative” approval at the the GST Council meeting on March 31.
\nFurther, the Central Board of Excise and Customs (CBEC) has come out with 4 set of revised rules on GST Invoice, GST Payment, GST Refund and GST Registration.
\nThese rules had secured final approval at the Council meeting last week.
\nHowever, the CBEC is <\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n has been mentioned that declared invoice value shall be accepted for valuation of inter-state supplies within the same entity, it needs to be clarified as to any value declared by the companies would be acceptable by the authorities. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" FinMin seeks public comments on GST rules GSTDated:- 3-4-2017New Delhi, Apr 2 (PTI) The Finance Ministry today placed 8 set of rules in public domain, which will be applicable once the Goods and Services Tax (GST) is implemented from July 1. The government has sought comments from industry on the 4 set of new rules … Continue reading “FinMin seeks public comments on GST rules”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-2572","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/2572","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2572"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/2572\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\n“There is an indication that insurance companies, banking company, and telecom operator, would get some relief in case of self-supplies as they can issue the invoice on a quarterly basis,” Mohan said.
\nAlso, the CBEC has put up on its website 223-page FAQs on the basis of CGST, SGST, IGST, UTGST and Compensation Cess laws, along with a host of rules approved by GST Council.
\nThe Lok Sabha last month had approved the Central GST (CGST), Integrated GST (IGST), Union Territory GST (UTGST) and the Compensation to <\/p>\n
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