Monthly Archives: August 2017

Section 17 Jammu & Kashmir GST Act 2017 ( Section 17 Jammu & Kashmir 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… Read More »

Section 16 Jammu & Kashmir GST Act 2017 ( Section 16 Jammu & Kashmir GST Act 2017 explains Value of taxable supply 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 the manner specified… Read More »

Section 15 Jammu & Kashmir GST Act 2017 ( Section 15 Jammu & Kashmir GST Act 2017 explains Value of taxable supply and is covered in CHAPTER IV TIME AND VALUE OF SUPPLY  )  Value of taxable supply. 15. (1) The value of a supply of goods or services or both shall be the transaction value, which is the price actually… Read More »

Section 14 Jammu & Kashmir GST Act 2017 ( Section 14 Jammu & Kashmir 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… Read More »

Section 13 Jammu & Kashmir GST Act 2017 ( Section 13 Jammu & Kashmir GST Act 2017 explains Time of supply of services and is covered in CHAPTER IV TIME AND VALUE OF SUPPLY  )  Time of supply of services. 13. (1) The liability to pay tax on services shall arise at the time of supply, as determined in accordance with… Read More »

Section 12 Jammu & Kashmir GST Act 2017 ( Section 12 Jammu & Kashmir GST Act 2017 explains Time of supply of goods  and is covered in CHAPTER IV TIME AND VALUE OF SUPPLY  )  Time of supply of goods. 12. (1) The liability to pay tax on goods shall arise at the time of supply, as determined in accordance with… Read More »

Section 11 Jammu & Kashmir GST Act 2017 ( Section 11 Jammu & Kashmir GST Act 2017 explains Power to grant exemption from tax  and is covered in CHAPTER III LEVY AND COLLECTION OF TAX )  Power to grant exemption from tax. 11. (1) Where the Government is satisfied that it is necessary in the public interest so to do, it… Read More »

Section 10 Jammu & Kashmir GST Act 2017 ( Section 10 Jammu & Kashmir GST Act 2017 explains Composition Levy  and is covered in CHAPTER III LEVY AND COLLECTION OF TAX )  Composition Levy. 10. (1) Notwithstanding anything to the contrary contained in this Act but subject to the provisions of sub-sections (3) and (4) of section 9, a registered person,… Read More »