GST FAQ by CBEC 31.03.2017 GST FAQ by CBEC- 2nd Edition. 31.03.2017 – Download -Print S. No. FAQs on GST – Goods and Service Tax Act 1. FAQs on Overview of Goods and Services Tax (GST) 2. FAQs on Levy of and Exemption from Tax under GST 3. FAQs on Registration under GST 4. FAQs on Meaning and… Read More »
Goods and Service Tax (India) – FAQ 31.03.2017 by CBEC Transitional Provisions Chapter 24 Q 1. Will CENVAT credit (or VAT credit) carried forward in the last return prior to GST under existing law be available as ITC under GST? Ans. A registered person, other than a person opting to pay tax under composition scheme,… Read More »
Goods and Service Tax (India) – FAQ 31.03.2017 by CBEC GSTN and Frontend Business Process on GST Portal Chapter 23 Q 1. What is GSTN? Ans. Goods and Services Tax Network (GSTN) is a not-for-profit, non-government company promoted jointly by the Central and State Governments, which will provide shared IT infrastructure and services to both… Read More »
Goods and Service Tax (India) – FAQ 31.03.2017 by CBEC Place of Supply of Goods and Service Chapter 22 Q 1. What is the need for the Place of Supply of Goods and Services under GST? Ans. The basic principle of GST is that it should effectively tax the consumption of such supplies at the… Read More »
Goods and Service Tax (India) – FAQ 31.03.2017 by CBEC Overview of the IGST Act Chapter 21 Q 1. What is IGST? Ans. “Integrated Goods and Services Tax” (IGST) means tax levied under the IGST Act on the supply of any goods and/ or services in the course of inter-State trade or commerce. Q 2.… Read More »
Goods and Service Tax (India) – FAQ 31.03.2017 by CBEC Offences, Penalties, Prosecution and Compounding Chapter 20 Q 1. What are the prescribed offences under CGST/SGST Act? Ans. The CGST/SGST Act codifies the offences and penalties in Chapter XVI. The Act lists 21 offences in section 122, apart from the penalty prescribed under section 10… Read More »
Goods and Service Tax (India) – FAQ 31.03.2017 by CBEC Inspection, Search, Seizure and Arrest Chapter 19 Q 1. What is the meaning of the term “Search”? Ans. As per law dictionary and as noted in different judicial pronouncements, the term ‘search’, in simple language, denotes an action of a government machinery to go, look… Read More »
Goods and Service Tax (India) – FAQ 31.03.2017 by CBEC Advance Ruling Chapter 17 Q 1. What is the meaning of Advance Ruling? Ans. As per section 95 of CGST/SGST Law and section 12 of UTGST law, ‘advance ruling’ means a decision provided by the authority or the Appellate Authority to an applicant on matters… Read More »
Goods and Service Tax (India) – FAQ 31.03.2017 by CBEC Appeals, Review and Revision in GST Chapter 16 Q 1. Whether any person aggrieved by any order or decision passed against him has the right to appeal? Ans. Yes. Any person aggrieved by any order or decision passed under the GST Act(s) has the right… Read More »
Goods and Service Tax (India) – FAQ 31.03.2017 by CBEC Demands and Recovery Chapter 15 Q 1. Which are the applicable sections for the purpose of recovery of tax short paid or not paid or amount erroneously refunded or input tax credit wrongly availed or utilized? Ans. Section 73 deals with the cases where there… Read More »