Question 4: The registered person ‘B’ receives small portions of software code from individuals which he then integrates and supply as a package to clients. These individuals are having small turnover of Rs 5 to 10 lakh, and therefore are not registered in GST. Whether there is any liability on ‘B’ in respect of services… Read More »
Question 3: ‘A’ is a dealer in Computers and Computer parts having turnover of Rs. 8 lakh in a year; does‘A’ have to register under GST? Answer: Every supplier located in a State or Union territory, whose “aggregate turnover” in a financial year exceeds twenty lakh rupees, is liable to be registered under GST. This… Read More »
Question 2: What are the implications of recognising the development, design, programming, customisation, adaptation, upgradation, enhancement, and implementation of information technology software as a service? Answer: The primary implication is that the place of supply rules applicable to services would apply in determining taxability of the supply of software services. The same would be applicable… Read More »
Question 1: Whether software is regarded as goods or services in GST ? Answer: In terms of Schedule II of the CGST Act 2017, development, design, programming, customisation, adaptation, upgradation, enhancement, implementation of information technology software and temporary transfer or permitting the use or enjoyment of any intellectual property right are treated as services. But,… Read More »
GST FAQ on IT / ITES Question 1: Whether software is regarded as goods or services in GST ? Answer: In terms of Schedule II of the CGST Act 2017, development, design, programming, customisation, adaptation, upgradation, enhancement, implementation of information technology software and temporary transfer or permitting the use or enjoyment of any intellectual property… Read More »
Know Your Taxpayer Bill of Rights Every taxpayer has a set of fundamental rights and the IRS has an obligation to protect them. The “Taxpayer Bill of Rights” groups the taxpayer rights found in the tax code into 10 categories. Know these rights when interacting with the IRS. A good way to learn about them is by… Read More »
Notification No 19/2017 Union Territory Tax (Rate) Seek to reduce UTGST rate on specified parts of tractors from 14% to 9 %. vide Notification No 19/2017 Union Territory Tax (Rate) Dated 18th August, 2017 [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department… Read More »
Notification No 19/2017 Integrated Tax (Rate) Seeks to reduce IGST rate on specified parts of tractors from 28% to 18 %. vide Notification No 19/2017 Integrated Tax (Rate) Dated 18th August, 2017 [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department… Read More »
Notification No 19/2017 Central Tax (Rate) Seeks to reduce CGST rate on specified parts of tractors from 14% to 9 % vide Notification No 19/2017 Central Tax (Rate) Dated 18th August, 2017 [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of… Read More »
Debit Note in GST Analysis of provisions of Debit Note in GST Introduction A supplier of goods or services or both is mandatorily required to issue a tax invoice. However, during the course of trade or commerce, after the invoice has been issued there could be situations like: The supplier has erroneously declared a value… Read More »