Daily Archives: August 3, 2017

Pay 20% of disputed demand for Stay of Demand at CIT (A) of Income Tax :DATED 31-7-2017

By | August 3, 2017

SECTION 220 OF THE INCOME-TAX ACT, 1961 : COLLECTION AND RECOVERY OF TAX – WHEN TAX PAYABLE AND WHEN ASSESSEE DEEMED IN DEFAULT : RECOVERY OF OUTSTANDING TAX DEMANDS : PARTIAL MODIFICATION OF INSTRUCTION NO.1914, DATED 21-3-1996 TO PROVIDE FOR GUIDELINES FOR STAY OF DEMAND AT FIRST APPEAL STAGE OFFICE MEMORANDUM [F.NO.404/72/93-ITCC], DATED 31-7-2017 Instruction No.… Read More »

GST on restaurant if there is separate AC & non AC Premises

By | August 3, 2017

 Question : Caterpillar is a restaurant cum bar in Kolkata. It has successfully migrated to GST. While the first floor area of the restaurant is air conditioned and supplies food as well as liquor, the ground floor serves only food and is non-air-conditioned. Caterpillar wants to know,: (i) Whether they will charge GST @ 12% on… Read More »

GST on Atta / Maida / Besan supplied in bulk

By | August 3, 2017

Question : Is Atta/Maida/Besan supplied in bulk liable to tax under GST? Answer: Outward supply of these goods if effected without registered brand name is exempt under GST. However , if the outward supply is made under a registered brand name and put up in unit container then it would be liable to tax @ 5%.  … Read More »

Category: GST

Supplier can reduce GST on goods returned

By | August 3, 2017

  Question : Whether the supplier can reduce the tax elements against goods returned to him? Answer: Yes, the person is eligible to reduce the tax liability by issuing credit notes to his recipient for such returned goods subject to the condition that the recipient reduces the claim of ITC to that extent if ITC was availed… Read More »

Category: GST

Manufacturer can claim GST ITC on rental premises

By | August 3, 2017

Question : A registered person is a manufacturer of taxable food items. His factory is in rental premises. Whether this person is eligible to claim ITC on tax charged on the rental amount? Answer: Yes, the person is eligible to claim ITC of tax charged on the rental amount. Related GST FAQ GST on Food Processing Industry… Read More »

Category: GST

Exchange Rate of Foreign Currency w.e.f 04.08.2017

By | August 3, 2017

Exchange Rate of Foreign Currency Relating To Imported and Export Goods Notified  In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs No.72/2017-CUSTOMS (N.T.), dated 20th July, 2017, except as respects things done or omitted… Read More »

IGST Extension to J & K Bill 2017 Passed by Lok Sabha : Download

By | August 3, 2017

Bill No. 155-C of 2017 THE INTEGRATED GOODS AND SERVICES TAX (EXTENSION TO JAMMU AND KASHMIR) BILL, 2017 AS PASSED BY LOK SABHA ON 02.08.2017 Download IGST Extension to J & K Bill 2017 The Lok Sabha on Wednesday passed legislation to extend the Goods and Services Tax (GST) to Jammu and Kashmir, making it part… Read More »

GST FAQ on HSN Codes

By | August 3, 2017

 GST FAQ on HSN Codes 1. What is the HSN code and GST rate for lac or shellac bangles? Lac or shellac bangles are classifiable under heading 7117 and attract 3% GST. 2. What is the HSN code and GST rate for kulfi? Kulfi is classifiable under heading 2105 and attracts 18% GST. 3. What… Read More »

Online travel agents required to collect TCS under GST

By | August 3, 2017

Question : Do travel agents providing services through digital or electronic platform qualify as ECOs? Will they be required to collect tax at source as per the provisions of Section 52 of the CGST Act, 2017? Answer: Online travel agents providing services through digital or electronic platform will fall under the category of ECOs liable… Read More »

Category: GST

Use of same premises of e-Commerce operators by multiple persons under GST

By | August 3, 2017

Question : The sellers supplying goods through e-Commerce operators (ECO) may have common places of business, especially if their goods are stored in a shared facility operated by the ECO. This will result in the same additional place of business being registered by multiple suppliers. Is this allowed? Answer: Yes, this is allowed. Any registered… Read More »

Category: GST

Statements e-commerce operator required to submit under GST

By | August 3, 2017

Question : Is the e-commerce operator required to submit any statement? What are the details that are required to be submitted in the statement? Answer: Yes, every operator is required to furnish a statement, electronically, containing the details of outward supplies of goods or services effected through it, including the supplies of goods or services… Read More »

Category: GST

When should E commerce operator collect Tax under GST

By | August 3, 2017

Question : What time should the e-commerce operator make collection of tax under GST ? Answer: The e-commerce operator should make the collection during the month in which the consideration amount is collected from the recipient. ( Note :every e-commerce operator (other than an operator required to pay tax under section 9(5) of the CGST… Read More »

Category: GST

GST threshold exemption not available to electronic commerce operators for notified services

By | August 3, 2017

Question : Will threshold exemption be available to electronic commerce operators liable to pay tax on notified services? Answer: No. Threshold exemption is not available to e-commerce operators who are required to pay tax on notified services supplied through them. (Refer to Notification No. 17/2017- Central Tax (Rate) and Notification No 14/2017- Integrated Tax (Rate) dated… Read More »

Category: GST

Mandatory GST registration of person making supply through e-commerce operator

By | August 3, 2017

Question : Whether a person supplying goods or services through e-commerce operator would be entitled to threshold exemption? Answer: No. Section 24(ix) of the CGST Act, 2017 lays down that the threshold exemption is not available to such persons and they would be liable to be registered irrespective of the value of supply made by… Read More »

Meaning of e-commerce operator under GST

By | August 3, 2017

Question : Who is an e-commerce operator ? Answer: Electronic Commerce Operator has been defined in Section 2(45) of the CGST Act, 2017 to mean any person who owns, operates or manages digital or electronic facility or platform for electronic commerce. Related GST FAQ GST on E Commerce : FAQ GST on Mining Sector :… Read More »

Category: GST

What is Electronic Commerce meaning under GST

By | August 3, 2017

Question : What is Electronic Commerce? Answer: Electronic Commerce has been defined in Section 2(44) of the CGST Act, 2017 to mean the supply of goods or services or both, including digital products over digital or electronic network.   Related GST FAQ GST on E Commerce : FAQ GST on Mining Sector : FAQ GST… Read More »

Category: GST

Easy Steps to create GSTR 1

By | August 3, 2017

Easy Steps to create GSTR 1   Related Topic on GST Topic Click Link GST Acts  Central GST Act and States GST Acts GST Rules GST Rules  GST Forms GST Forms GST Rates GST Rates GST Notifications GST Act Notifications GST Circulars GST Circulars  GST Judgments GST Judgments GST Press Release GST Press Release GST… Read More »

Category: GST