If an “ not for profit” entity registered under section 12AA of Income Tax Act 1961 supply goods , is it liable for GST ? There is NIL GST on following :- Services by an entity registered under section 12AA of the Income-tax Act, 1961 (43 of 1961) by way of charitable activities. [ Entry… Read More »
GST News 14.01.2018 by CA Satbir Singh Related Topic on GST Topic Click Link GST Acts Central GST Act and States GST Acts GST Rules GST Rules GST Forms GST Forms GST Rates GST Rates GST Notifications GST Act Notifications GST Circulars GST Circulars GST Judgments GST Judgments GST Press Release GST Press Release GST… Read More »
What is a cognizable offence ? Generally, as per Criminal Procedure Code, cognizable offence means serious category of offences in respect of which a police officer has the authority to make an arrest without a warrant and to start an investigation with or without the permission of a court. However, GST being a special legislation,… Read More »
How is GST Charged in case of Import of goods ? Value of the goods for the purpose of levying IGST in case of import of goods shall be, assessable value plus Customs Duty levied under the Act, and any other duty chargeable on the said goods under any law for the time being in… Read More »
Statutory GST Audit Like under VAT regime, is there any statutory GST audit by a Chartered Accountant compulsory for all assesses and what are the provisions for it ? Annual return with reconciliation statement has to be certified by CA (Chartered Accountant) / cost accountant if turnover exceeds Rs two croes and has to be… Read More »
The Central Government provides Security service to a government authority, whether such services shall be taxable under GST ? There is NIL GST on Following Services :- Services by the Central Government, State Government, Union territory or local authority excluding the following services— (a) services by the Department of Posts by way of speed post, express… Read More »
Our company is working as a Project Management Consultancy (PMC) for govt. dept. for road work. Do we need to pay GST ? There is NIL GST on Pure services (excluding works contract service or other composite supplies involving supply of any goods) provided to the Central Government, State Government or Union territory or local… Read More »
I rent a shop [Commercial prop.] located in MUMBAI to a Delhi Registered [GST] Company .Since the location of commercial property is in Mumbai Should I charge SGST & CGST or Just because the agreement is with a Delhi Registered Company , I should charge IGST. Section 12 of IGST Act 2017 …. (3) The… Read More »
Can a company can take/avail credit on repairs of building which is in the nature of work contract. Account Head debited in its Profit and Loss book is Building Repair ? Section 17 (5) of CGST Act 2017 ….. , input tax credit shall not be available in respect of the following, namely: …. (d) goods… Read More »
Can a company can take ITC (Input Tax Credit) on IRCTC tickets when the company is sending its employees to official tour purpose ? Section 16. (1) of CGST Act 2017 : Every registered person shall, subject to such conditions and restric- tions as may be prescribed and in the manner specified in section 49, be… Read More »