Goods and Services Tax (GST) collections may likely witness a slow or even negative growth rate for at least six months from March due to the impact on Covid-19 on manufacture, business and consumption. An analysis of different scenarios reveal that GST revenue for…
Month's GST collections for Andhra Pradesh, West Bengal, Assam crashed due to coronavirus-induced lockdown; Centre's net April collections may drop from Rs 1 lakh crore to between Rs 45,000-55,000 crore Early bird numbers suggest coronavirus-afflicted lockdown has slashed April GST revenue of states such as…
Brief: Taxability on various promotional instruments like gift vouchers, coupons, cards etc. as to what are the nature of the same and what will be the tax implications on the same. Meaning: Some of the instruments are defined as follows: Vouchers: Voucher in terms of…
RCM on services of Directors Section 7 of the CGST Act provides an inclusive definition of supply that includes all forms of supply of goods or services or both such as sale, transfer, barter, exchange, license, rental, lease or disposal made or agreed to…
HIGH COURT OF ALLAHABAD Jindal Pipes Limited. v. State of U.P. Full Facts: The Movement of Goods was for 980 Kilometers (Kms) however E-Way Bill stated 90 Kms. Goods seized after intercepted on 20th, August 2018. The petitioner deposited amount towards Tax and penalty…
Relevant Legal Provisions Section 31(3)(f) of The CGST Act, 2017 | Requirement of Self-Generated Invoice “a registered person who is liable to pay tax under sub-section (3) or sub-section (4) of section 9 shall issue an invoice in respect of goods or services or both…
Case Study: Procedure to be followed for Activity of sending / taking the goods out of India for exhibition or on consignment basis (hereinafter referred to as said activity) for export promotion. Such goods sent / taken out of India crystallise into exports, wholly…
CBIC wide Circular No. 113/32/2019-GST Dated,11th October, 2019 has Clarified various Representations in respect of Classification and applicable GST rates on the following items: (i) Classification of leguminous vegetables such as grams when subjected to mild heat treatment Thus, it is clarified that such leguminous…