ASSAM GOODS AND SERVICES TAX (FOURTH AMENDMENT) RULES, 2017 – AMENDMENT IN RULES 24, 46, 61, 83, 89, FORM GST TRAN-1 & FORM GST TRAN-2 AND SUBSTITUTION OF RULE 34 NOTIFICATION NO.FTX.90/2016/73, DATED 8-8-2017 In exercise of the powers conferred by section 164 of the Assam Goods and Services Tax Act, 2017 (Assam Act XXVIII of… Read More »
SECTION 11 OF THE ASSAM GOODS AND SERVICE TAX ACT, 2017 [POWER TO GRANT EXEMPTION FROM TAX ] INTRA-STATE EXEMPT GOODS NOTIFIED UNDER SECTION 11(1) – CORRIGENDUM TO NOTIFICATION NO.2/2017-STATE TAX (RATE) [NO.FTX.56/2017/15], DATED 29-6-2017 NOTIFICATION NO.FTX.90/2016/105, DATED 8-8-2017 In the notification No.FTX.56/2017/15, dated the 29th June, 2017, (Notification No.2/20I7-State Tax Rate), of the Finance (Taxation) Department,… Read More »
SECTION 9 OF THE ASSAM GOODS AND SERVICES TAX ACT, 2017 [ LEVY AND COLLECTION ] RATE OF STATE TAX SCHEDULES NOTIFIED UNDER SECTION 9(1) – CORRIGENDUM TO NOTIFICATION NO.1/2017-STATE TAX (RATE) [NO.FTX.56/2017/14], DATED 29-6-2017 NOTIFICATION NO.FTX.90/2016/104, DATED 8-8-2017 In the notification No.FTX.56/2017/14, dated the 29th June, 2017, (Notification No.l/2017-State Tax Rate), of the Finance (Taxation) Department,… Read More »
SECTION 39 OF THE ASSAM GOODS AND SERVICES TAX ACT, 2017, READ WITH RULE 61 OF THE ASSAM GOODS AND SERVICES TAX RULES, 2017 [ RETURNS ] FORM AND MANNER OF SUBMISSION OF MONTHLY RETURN UNDER RULE 61 – EXTENSION OF TIME LIMIT FOR FILING FORM GSTR-3B FOR MONTHS OF JULY/AUGUST, 2017 NOTIFICATION NO.4/2017-GST [NO.CT/GST-10/2017/188], DATED… Read More »
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Suggestions on GST Acts (July 2017) by Institute of Chartered Accountants of India 12. Business Goods put to Private use by an assessee Clause 4(b) of Schedule II of CGST Act, 2017 as specified in Section 7 provides that where, by or under the direction of a person carrying on a business, goods held or… Read More »
Suggestions on GST Acts (July 2017) by Institute of Chartered Accountants of India 11 . Taxability of Import of services – Section 7(1)(b) of CGST Act provides that supply includes import of services, for a consideration whether or not in the course or furtherance of business, and Further, Schedule I Point 4 of the CGST Act… Read More »
Suggestions on GST Acts (July 2017) by Institute of Chartered Accountants of India 10. Removal of words “such as” as the definition of Supply is inclusive one. Section 7(1)(a) of the CGST Act provides that Supply includes—(a) all forms of supply of goods or services or both such as sale, transfer, barter, exchange, license, rental,… Read More »
Suggestions on GST Acts (July 2017) by Institute of Chartered Accountants of India 9. Term Provision to be included in Definition of Supply Section 7(1) of CGST Act, 2017 provides that the expression “supply” includes–– (a) all forms of supply of goods or services or both such as sale, transfer, barter, exchange,licence, rental, lease or… Read More »
Suggestions on GST Acts (July 2017) by Institute of Chartered Accountants of India 8. Definition of “Location of the supplier of goods” Section 2(71) of CGST Act, 2017 defines “Location of the supplier of services” & “Location of the receiver of services” but does not define “Location of the supplier of goods”. Absence of definition… Read More »