Daily Archives: July 6, 2017

Sovereign Gold Bond Scheme 2017-18– Series II from 10.07.2017 to 14.07.2017

By | July 6, 2017

Government of India in consultation with RBI decides to issue Sovereign Gold Bond Scheme 2017-18– Series II; Applications for the bond will be accepted from July 10, 2017 to July 14, 2017; The Bonds will be issued on July 28, 2017.  Government of India, in consultation with the Reserve Bank of India, has decided to… Read More »

Time to issue GST Certificate ( GSTIN ) after ARN (Application Reference Number ) generation

By | July 6, 2017

After generation of Application Reference Number (ARN), the Registration Certificate (RC) containing GSTIN will be issued after 3 working days, unless approved earlier by Tax Officer After generation of Application Reference Number (ARN), the Registration Certificate (RC) containing GSTIN will be issued after 3 working days, unless approved earlier by Tax Officer. For example if… Read More »

Section 21 UP GST Act 2017 : Manner of recovery of credit distributed in excess

By | July 6, 2017

Section 21 UP GST Act 2017 [ Section 21 UP GST Act 2017 explains Manner of recovery of credit distributed in excess  and is covered in Chapter V : Input Tax Credit ] Manner of recovery of credit distributed in excess 21. Where the Input Service Distributor distributes the credit in contravention of the provisions contained in section 20… Read More »

Section 20 UP GST Act 2017 : Manner of distribution of credit by Input Service Distributor

By | July 6, 2017

Section 20 UP GST Act 2017 [ Section 20 UP GST Act 2017 explains Manner of distribution of credit by Input Service Distributor and is covered in Chapter V : Input Tax Credit ] Manner of distribution of credit by Input Service Distributor 20. (1) The Input Service Distributor shall distribute the credit of State tax as State tax… Read More »

Section 19 UP GST Act 2017 : Taking input tax credit in respect of inputs and capital goods sent for job work

By | July 6, 2017

Section 19 UP GST Act 2017 [ Section 19 UP GST Act 2017 explains Taking input tax credit in respect of inputs and capital goods sent for job work and is covered in Chapter V : Input Tax Credit ] Taking input tax credit in respect of inputs and capital goods sent for job work 19. (1) The principal… Read More »

Section 18 UP GST Act 2017 : Availability of credit in special circumstances

By | July 6, 2017

Section 18 UP GST Act 2017 [ Section 18 UP GST Act 2017 explains Availability of credit in special circumstances and is covered in Chapter V : Input Tax Credit ] Availability of credit in special circumstances 18. (1) Subject to such conditions and restrictions as may be prescribed- (a) a person who has applied for registration under this… Read More »

Section 17 UP GST Act 2017 : Apportionment of credit and blocked credits

By | July 6, 2017

Section 17 UP GST Act 2017 [ Section 17 UP GST Act 2017 explains Apportionment of credit and blocked credits and is covered in Chapter V : Input Tax Credit ] Apportionment of credit and blocked credits 17. (1) Where the goods or services or both are used by the registered person partly for the purpose of any business… Read More »

Section 16 UP GST Act 2017 : Eligibility and conditions for taking input tax credit

By | July 6, 2017

Section 16 UP GST Act 2017 [ Section 16 UP GST Act 2017 explains Eligibility and conditions for taking input tax credit and is covered in Chapter V : Input Tax Credit ] Eligibility and conditions for taking input tax credit 16. (1) Every registered person shall, subject to such conditions and restrictions as may be prescribed and in… Read More »

Section 14 UP GST Act 2017 : Change in rate of tax in respect of supply of goods or services

By | July 6, 2017

Section 14 UP GST Act 2017 [ Section 14 UP GST Act 2017 explains Change in rate of tax in respect of supply of goods or services and is covered in Chapter IV : Time and Value of Supply  ] Change in rate of tax in respect of supply of goods or services 14. Notwithstanding anything contained in section… Read More »