Model IGST Law [ Nov 2016] THE INTEGRATED GOODS AND SERVICES TAX ACT, 2016 Section 6 Model IGST Law [ Nov 2016] Power to grant exemption from tax (1) Any exemption granted by the Central Government on the recommendation of the Council, under section 11 of the CGST Act in respect of intra- State supply of… Read More »
Model IGST Law [ Nov 2016] THE INTEGRATED GOODS AND SERVICES TAX ACT, 2016 Section 5 Model IGST Law [ Nov 2016] CHAPTER– III LEVY AND COLLECTION OF TAX Levy and collection of Integrated Goods and Services Tax (1) There shall be levied a tax called the Integrated Goods and Services Tax on all supplies of… Read More »
Model IGST Law [ Nov 2016] THE INTEGRATED GOODS AND SERVICES TAX ACT, 2016 Section 4 Model IGST Law [ Nov 2016] Supplies of goods and/or services in the course of intra-State trade or commerce (1) Subject to the provisions of section 7, intra-State supply of goods means any supply of goods where the location of the… Read More »
Model IGST Law [ Nov 2016] THE INTEGRATED GOODS AND SERVICES TAX ACT, 2016 Section 3 Model IGST Law [ Nov 2016] CHAPTER- II PRINCIPLES FOR DETERMINING SUPPLY OF GOODS AND/OR SERVICES IN THE COURSE OF INTER-STATE TRADE OR COMMERCE Supplies of goods and/or services in the course of inter-State trade or commerce (1) Subject… Read More »
Model IGST Law [ Nov 2016] THE INTEGRATED GOODS AND SERVICES TAX ACT, 2016 Section 2 Model IGST Law [ Nov 2016] Definitions In this Act, unless the context otherwise requires,- (1) “account” means an account bearing interest to the depositor, and includes a non-resident external account and a non-resident ordinary account; (2) “appropriate State”, in… Read More »
Model IGST Law [ Nov 2016] THE INTEGRATED GOODS AND SERVICES TAX ACT, 2016 Section 1 Model IGST Law [ Nov 2016] CHAPTER– I PRELIMINARY Short title, extent and commencement (1) This Act may be called the Integrated Goods and Services Tax Act, 2016. (2) It extends to the whole of India. (3) It shall come into… Read More »
MODEL IGST LAW [ Nov 2016] THE INTEGRATED GOODS AND SERVICES TAX ACT, 2016 CHAPTER- I PRELIMINARY Short title, extent and commencement Definitions CHAPTER– II PRINCIPLES FOR DETERMINING SUPPLY OF GOODS AND/OR SERVICES IN THE COURSE OF INTER-STATE TRADE OR COMMERCE Supplies of goods and/or services in the course of inter-State trade or commerce Supplies of… Read More »
Existence of undisclosed bank deposits non-mandatory on date of PMGKY payment: CBDT Circular No 8 of 2017 Dated 14/03/2017 Clarification on the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana 2016 PMGKY scheme has commenced and it is open for declarations till March 31, 2017. Representations have been received from various stakeholders seeking… Read More »
Date : Mar 14, 2017 The Reserve Bank of India, in consultation with the Government of India, has issued six tranches of Sovereign Gold Bonds for a total value of ₹ 4145 crore till date. Investors in these bonds have been provided with the option of holding them in physical or dematerialized form. The requests… Read More »
Query: Whether transfer of right to use goods will be treated as supply of goods or supply of service? Answer: Transfer of right to use goods shall be treated as supply of service because there is no transfer of title in such supplies. Such transactions are specifically treated as supply of service in Schedule-II- Point 5(g) of… Read More »