The Institute of Chartered Accountants of India (ICAI) has issued an announcement for its members clarifying that a CA/CA firm working on the assignment of ‘internal audit’ is not eligible to accept the assignment of ‘GST Audit’ simultaneously.…
Section 9(5) of CGST Act 2017 is a charging section under GST for supply of notified services. This section deals with taxability of supply of services, the output tax of which shall be paid by the electronic commerce…
Tax Collection at Source (TCS) under GST is going to implement w.e.f. 1st October 2018 in India. In this article we are going to discuss all the relevant provisions of TCS. What is the concept of TCS ?…
Notification No.12/2017-Central Tax (Rate) dated 28th June 2017 exempts services provided by entity registered under Section 12AA of the Income-tax Act, 1961 by way of charitable activities from whole of GST vide entry No. 1 of the notification, which specifies that:- “services…
CBIC recently issued a notification CGST-50/2018 on 13.09.2018 notifying the date applicability of provisions of ‘Tax Deduction at Source’ (TDS) under GST laws. 1st October 2018 has been appointed as date from which such provisions are required to be followed.…
In recent ruling issued by Karnataka AAR in case of M/s Coffee Day Global Ltd, it is held that the supply of non-alcoholic beverages or ingredients of the beverages to the SEZ units by using coffee vending machines does…
In its very positive move, GSTN has enabled the facility to file refund application for multiple tax periods w.e.f. 23rd August 2018. Now, an assessee can file refund application for more than one month/quarter in single application. Currently,…
This article reiterates the outcomes of “GST Council Meeting 21 July 2018- New Delhi”. In this meeting, council has provided benefits to both being consumers as well as traders. Bofore the upcoming Lok sabha elections in 2019, this…
After successful implementation of GST during a complete period of one year, government is planning to enter into next level of GST to make it more smoother and trade friendly. Recently, government has issued proposals to amend CGST…
There are so many services exempted under IGST Act. These services are notified through IGST Rate Notification 9/2017 as amended from time to time. Following is the schedule of such services as amended till 27.07.2018 :-
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