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Clarifications on various issues of GST Refunds – w.e.f. 18/11/2019

As the government has provided the fully online module for all type of refunds w.e.f. 26/09/2019, it has issued a circular to clarify various issues on refunds along with detailed procedure for application of refunds. Refund procedure has…

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New Procedure for Refund-Fully Online Module-w.e.f. 26/09/2019

After more than two years, government now succeeds to provide fully online module for application, processing, issuance and disbursement of eligible refunds under GST Laws. As per Circular no. CIR-125/44/2019-GST dated 18/11/2019, government has clarified that it is…

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GST Rates – Restaurant (Food & Beverages) Sales w.e.f. 01/10/2019

At the time of writing this article, almost 28 months has been completed from the incorporation of GST laws in Indian Indirect Taxation System. In these 28 months, hundreds of notifications, amendments, enhancements were brought into GST laws…

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Outcomes of GST Council Meet – 20/09/2019 – Goa

The 37th Meeting of GST Council held in Goa on 20th September 2019 headed by current Finance Minister Smt. Nirmala Sitaraman In this meeting, various decisions taken including relaxations, export incentives, ease of doing, gst rate reductions, exemptions,…

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Few days left to revoke cancellation of GST registration (till 22.07.2019)

On 23rd April 2019, Central government has issued an order called “Removal of Difficulties Order – CT-ROD-ORD-05/2019 to give one time opportunity to all taxpayers whose GST number was cancelled by department on account of sou moto action. In this…

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GST on transactions between Principal and his Agent for supply of goods

Schedule-I of CGST Act 2017 specifies certain Activities which shall be treated as supply even if made without consideration. Entry no. 3 of this schedule specifies transactions of supply of goods between principal and his agent and are…

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GST on Sales Promotion Schemes (Credit Notes) – Clarification by CBIC

There was so much ambiguity among the professionals, businessmen and other tax consultants with respect to sale promotions schemes in various forms where suppliers issue credit notes, providing free samples, or others. Some of consultants were saying that the…

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Composition Scheme for Service Providers w.e.f. 1st April 2019

Initially, under GST laws, composition scheme was restricted only for traders, manufacturers and restaurant service providers. With the implementation of CGST Amendment Act, 2017 as applicable w.e.f. 01.02.2019, a relatively small portion of services is allowed to be…

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Threshold for GST Registration enhanced to Rs 40 Lakh w.e.f. 01.04.2019

In its 32nd meeting, GST Council has decided to increase the threshold limit for registration under GST laws from the erstwhile limit of Rs 20 Lakh to Rs 40 Lakh. On 7th March 2019, CBIC has issued a…

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Classification of Supply- Whether a supply is a supply of goods or a supply of services

Schedule- II to CGST Act, 2017 provides a list of activities and transactions to determine whether it is a supply of Goods or a supply of Services.  Such determination is very much important to select appropriate category while…

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