4 New GST Circulars issued on 31.12.2018 Circular No 76/50/2018 GST Dated 31st December 2018 : Clarification on certain issues sale by government departments to unregistered person; leviability of penalty under section 73(11) of the CGST Act; rate of tax in case of debit notes / credit notes issued under section 142(2) of the CGST… Read More »
Income Tax TCS to be included for GST Valuation What is the correct valuation methodology for ascertainment of GST on Tax collected at source (TCS) under the provisions of the Income Tax Act, 1961? As per Circular No 76/50/2018 GST Dated 31st December 2018 : 1. Section 15(2) of CGST Act specifies that the value… Read More »
Who will be considered as the “owner of the goods‟ for the purposes of section 129(1) of the CGST Act? As per Circular No 76/50/2018 GST Dated 31st December 2018 : It is hereby clarified that if the invoice or any other specified document is accompanying the consignment of goods, then either the consignor or… Read More »
Applicability of the provisions of section 51 of the CGST Act (TDS) in the context of notification No 50/2018-Central Tax dated 13.09.2018 ? As per Circular No 76/50/2018 GST Dated 31st December 2018 : 1. A doubt has arisen about the applicability of long line mentioned in clause (a) of notification No. 50/2018- Central Tax… Read More »
Invalid Summary Payload error of GSTR 10 I am Geeting Invalid Summary Payload Error while Filing GSTR 10 (GST Final Return)? You needs to update Address in Future Correspondence in GSTR 10 ( Even if the Address is coming there, you have to again enter and save details ) 7… Read More »
Notification No 31/2018 Integrated Tax (Rate) seeks to insert explanation in an item in notification No. 8/2017 – Integrated Tax (Rate) by exercising powers conferred under section 11(3) of CGST Act, 2017 [TO BE PUBLISHED IN THE GAZZETE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] Government of India Ministry of Finance (Department of… Read More »
Notification No 30/2018 Integrated Tax (Rate) Seeks to amend notification No. 10/2017- Integrated Tax (Rate) so as to specify services to be taxed under Reverse Charge Mechanism (RCM) as recommended by Goods and Services Tax Council in its 31st meeting held on 22.12.2018. [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION… Read More »
Notification No 29/2018 Integrated Tax (Rate) Seeks to amend notification No. 9/2017- Integrated Tax (Rate) so as to exempt certain services as recommended by Goods and Services Tax Council in its 31st meeting held on 22.12.2018. [TO BE PUBLISHED IN THE GAZZETE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] Government of India Ministry… Read More »
Notification No 28/2018 Integrated Tax (Rate) Seeks to amend notification No. 8/2017- Integrated Tax (Rate) so as to notify IGST rates of various services as recommended by Goods and Services Tax Council in its 31st meeting held on 22.12.2018. [TO BE PUBLISHED IN THE GAZZETE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] Government… Read More »
Notification No 27/2018 Integrated Tax (Rate) seeks to exempt integrated tax on supply of gold by nominated agencies to registered persons. [TO BE PUBLISHED IN THE GAZZETE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] Government of India Ministry of Finance (Department of Revenue)` Notification No. 27/2018- Integrated Tax (Rate) New Delhi, the 31st… Read More »