Suggestions on GST Acts (July 2017) by Institute of Chartered Accountants of India 30. Definition of Books of Accounts for the purpose of GST Section 35 of the CGST Act provides that every registered taxable person shall keep and maintain, at his principal place of business, as mentioned in the certificate of registration, a true… Read More »
Suggestions on GST Acts (July 2017) by Institute of Chartered Accountants of India 29. Cancellation of Registration Section 29(2) of the CGST Act provides that the proper officer may cancel the registration of a person from such date, including any retrospective date, as he may deem fit, where, –– (a) a registered person has contravened… Read More »
Suggestions on GST Acts (July 2017) by Institute of Chartered Accountants of India 28. Special provisions relating to casual taxable person and non-resident taxable person Section 27(2) of the CGST Act provides that: A casual taxable person or a non-resident taxable person shall, at the time of submission of application for registration under sub-section (1)… Read More »
Suggestions on GST Acts (July 2017) by Institute of Chartered Accountants of India 27. Time limit to fix effective date of Registration Section 25(11) of the CGST Act provides that a certificate of registration shall be issued in the prescribed form, with effective date as may be prescribed. Suggestion It is suggested that time limit… Read More »
Suggestions on GST Acts (July 2017) by Institute of Chartered Accountants of India 26. Registration in case of a person required to deduct tax under section 51 Section 25(6) of the CGST Act provides that every person shall have a Permanent Account Number issued under the Income Tax Act, 1961 (43 of 1961) in order… Read More »
Suggestions on GST Acts (July 2017) by Institute of Chartered Accountants of India 25. Registration for Assessees with Aggregate Turnover Over Rs. 20 Lakhs Section 22 on the CGST Act, 2017 provides that every supplier shall be liable to be registered under this Act in the State or Union territory, other than special category States,… Read More »
Suggestions on GST Acts (July 2017) by Institute of Chartered Accountants of India 24. Time Limit of 1 year for taking Input Tax Credit for Capital Goods Section 18(1) of CGST Act, 2017 provides that subject to such conditions and restrictions as may be prescribed— (a) a person who has applied for registration under this… Read More »
Section 75 Gujarat GST Act 2017 ( Section 75 Gujarat GST Act 2017 explains General provisions relating to determination of tax and is covered in CHAPTER XV DEMANDS AND RECOVERY ) General provisions relating to determination of tax 75. (1) Where the service of notice or issuance of order is stayed by an order of a court or Appellate Tribunal, the… Read More »
Section 74 Gujarat GST Act 2017 ( Section 74 Gujarat GST Act 2017 explains Determination of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilised by reason of fraud or any wilful misstatement or suppression of facts and is covered in CHAPTER XV DEMANDS AND RECOVERY ) Determination of tax not paid… Read More »
Section 73 Gujarat GST Act 2017 ( Section 73 Gujarat GST Act 2017 explains Determination of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilised for any reason other than fraud or any wilful misstatement or suppression of facts and is covered in CHAPTER XV DEMANDS AND RECOVERY ) Determination of tax… Read More »