Section 50 of CGST Act 2017 provides for levy of Interest on delayed payment of Tax under said act. As per sub-section (1), Every person who is liable to pay tax in accordance with the provisions of the Act or the rules made thereunder, but fails to pay the tax […]
As per latest developments, government has brought up major relaxations for filing of FORM GSTR-3B for the period from July 2017 to July 2020. Late Fee Waiver in full for nil returns or levy upto maximum of Rs 500/- for others. Recently, CBIC has issued two notifications which provides the […]
GST on Director’s remuneration is a much disputed matter in the latest because of some Advance Rulings issued by various authorities. Some authorities had ordered that remuneration paid to any director in whatever manner (salary/sitting fee) is liable for GST. However, these orders have to face huge criticism from high […]
E-commerce operations are growing at the swift pace in India. Every person of this age wish to explore the opportunities in the world of e-commerce. The primary reason behind the pace of e-commerce is the limitless approach of this model. In this business model, there is no limit to customer […]
With the implementation of GST as a new law, it brings some provisions which creates disturbances in the implementation vis-a-vis adoptability by taxpayers, professionals and judiciary. One of such provision is GST liability on advances receipts. There are so many questions on mind in respect of this, like:- What is […]
Section wise IGST Act 2017 Section 1 : Short title, extent and commencement Section 2 : Definitions Section 3 : Appointment of officers Section 4 : Authorisation of officer of state tax or union territory tax as proper officer in certain circumstances Section 5 : Levy and collection Section 6 […]
Coronavirus occurred at the times when India was at the verge of closing its financial year, many of the events/things likely to change with the closing of one financial year and opening of new financial year. Under GST Laws too, among others, there are so many things/events to be checked […]
Section 25 of CGST Act 2017 prescribes the manner of application for registration under the act. At the time of commencement of application of Act, Aadhaar authentication was not mandatory for registration under GST. However, due to big-bang defaults, ITC frauds through dummy firms, fake refunds, fake invoice mobilisation, government […]
Section 7 of IGST Act 2017 determines nature of supply of goods or services or both in the course of inter-state trade or commerce. Sub-section 5 of such section provides that following supplies shall be treated to be a supply of goods or services or both in the course of […]
Ministry of Finance (MOF) has declared Goods and Services Tax Database and its associated infrastructure dependencies installed at Goods and Services Tax Network (GSTN), as the protected system under Information Technology Act, 2000. MOF vide notification dated 4th February 2020, has declared that only following persons shall be authorised to […]