Pure agent in GST GST valuation rules released by government covering the important provisions of GST. The expenditure or costs incurred by the supplier as a pure agent of the recipient of supply of services shall be excluded from the value of supply. Thus you
1.We all know maximum GST rate pegged at 40 percent? Will it be used? 2.Sin Goods or demerit goods i.e. tobacco; aerated water, luxury cars etc. will attract the highest GST rate and with Cess. Further most of such goods will not enjoy ITC
Tax rates in GST composition levy Rules for composition levy are released by Government of India. These rules provide for the various relevant provisions in composition levy.Here we have compiled the tax rates in GST composition levy.Composition levy is for small businesses. If your turnover
Lets have a glimpse of sec 269ST 1. किस पर लगेगा: अगर कोई व्यक्ति किसी अन्य व्यक्ति से 2 lakh से ज़्यादा पैसे प्राप्त करता है i.e. Cash a. एक दिन में एक person से b. एक transaction के लिए c. एक event या
The CBDT has notified new income-tax return forms (ITR forms) for the assessment year 2017-18. It has prescribed simplified version of ITR-1 with fewer columns. A new column has been inserted in ITR Forms to report cash deposits in banks above 2 lakhs during the
GST Implementation and Compliances – Are you ready 1st July or 1st September 2017 – India’s GST is now a certainty. But are the stake holders ready; their IT systems ready and above all have all the stake holders including the Central Government and State
GST registration rules Revised registration rules are released by the GSTIN. These rules to be read with the relevant provisions given in GST Act. Major provisions given here are: Application for registration Verification of the application and approval Issue of registration certificate Separate registration for
GST refund rules Revised GST refund rules are released by the GSTIN. Major provisions given in these rules are: Application for refund of tax, interest, penalty, fees or any other amount Acknowledgement Grant of provisional refund Order sanctioning refund Credit of the amount of rejected
GST payment rules Revised GST payment rules are released by GSTIN. These rules contains the provisions related to payment in GST. Following major provisions are given in these rules Electronic Tax Liability Register The electronic tax liability register specified under sub-section (7) of section 49
GST invoice rules released GST invoice rules are released. These rules contains the major provisions related to the invoice, debit notes and credit notes. Major provisions covered are given below. PDF of these rules is also given above. Tax invoice: Containing the major items to
