Daily Archives: August 11, 2017

Economic Survey 2016-17 State of the Economy – An Analytical 

Economic Survey 2016-17 Volume-2 : State of the Economy – An Analytical Overview and Outlook for Policy Economic Survey 2016-17 Volume 2 was laid in the Parliament today. The Survey notices a rekindled optimism on structural reforms in Indian economy. Various factors such as launch of the GST; Positive impacts of demonetization; decision in principle to privatize… Read More »

Highlights of Reforms Measures in Economic Survey 2016-17

Highlights of Reforms Measures in the Economic Survey 2016-17 Volume-2 Agriculture and Food Management   Reforms: Managing and reducing the various risks in agriculture activities can make the sector resilient, increase profitability and can ensure stable income flows to the farmers. The following reforms are suggested for increasing productivity in agriculture and allied sector:   To… Read More »

Highlights of the Economic Survey 2016-17 Volume-2 

Highlights of the Economic Survey 2016-17 Volume-2 Fiscal Developments   The fiscal outcome of the Central Government in 2016-17 was marked by strong growth in tax revenue, sustenance of the pace of capital spending and a consolidation of non-salary/pension revenue expenditure. This combination allowed the Government to contain the fiscal deficit to 3.5 per cent… Read More »

Section 48 Delhi GST Act 2017 : Goods and services tax practitioners

Section 48 Delhi GST Act 2017 ( Section 48 Delhi GST Act 2017 explains Goods and services tax practitioners and is covered in CHAPTER- IX RETURNS )  Goods and services tax practitioners 48. (1) The manner of approval of goods and services tax practitioners, their eligibility conditions, duties and obligations, manner of removal and other conditions relevant for their functioning shall… Read More »

Section 45 Delhi GST Act 2017 : Final return

Section 45 Delhi GST Act 2017 ( Section 45 Delhi GST Act 2017 explains Final return and is covered in CHAPTER- IX RETURNS ) Final return 45. Every registered person who is required to furnish a return under sub section (1) of section 39 and whose registration has been cancelled shall furnish a final return within three months of the date… Read More »

Section 44 Delhi GST Act 2017 : Annual return

Section 44 Delhi GST Act 2017 ( Section 44 Delhi GST Act 2017 explains Annual return and is covered in CHAPTER- IX RETURNS ) Annual return 44. (1) Every registered person, other than an Input Service Distributor, a person paying tax under section 51 or section 52, a casual taxable person and a non resident taxable person, shall furnish an annual… Read More »

Section 43 Delhi GST Act 2017 : Matching, reversal and reclaim of reduction in output tax liability

Section 43 Delhi GST Act 2017 ( Section 43 Delhi GST Act 2017 explains Matching, reversal and reclaim of reduction in output tax liability  and is covered in CHAPTER- IX RETURNS ) Matching, reversal and reclaim of reduction in output tax liability 43. (1) The details of every credit note relating to outward supply furnished by a registered person (hereafter in… Read More »

Section 42 Delhi GST Act 2017 : Matching, reversal and reclaim of input tax credit

Section 42 Delhi GST Act 2017 ( Section 42 Delhi GST Act 2017 explains Matching, reversal and reclaim of input tax credit  and is covered in CHAPTER- IX RETURNS ) Matching, reversal and reclaim of input tax credit 42. (1) The details of every inward supply furnished by a registered person (hereafter in this section referred to as the “recipient”) for… Read More »

Section 41 Delhi GST Act 2017 : Claim of input tax credit and provisional acceptance thereof

Section 41 Delhi GST Act 2017 ( Section 41 Delhi GST Act 2017 explains Claim of input tax credit and provisional acceptance thereof  and is covered in CHAPTER- IX RETURNS ) Claim of input tax credit and provisional acceptance thereof 41. (1) Every registered person shall, subject to such conditions and restrictions as may be prescribed, be entitled to take the… Read More »

Section 40 Delhi GST Act 2017 : First Return

Section 40 Delhi GST Act 2017 ( Section 40 Delhi GST Act 2017 explains First Return  and is covered in CHAPTER- IX RETURNS ) First Return 40. Every registered person who has made outward supplies in the period between the date on which he became liable to registration till the date on which registration has been granted shall declare the same… Read More »

Section 38 Delhi GST Act 2017 : Furnishing details of inward supplies

Section 38 Delhi GST Act 2017 ( Section 38 Delhi GST Act 2017 explains  Furnishing details of inward supplies  and is covered in CHAPTER- IX RETURNS )  Furnishing details of inward supplies 38. (1) Every registered person, other than an Input Service Distributor or a non-resident taxable person or a person paying tax under the provisions of section 10 or section… Read More »

Section 37 Delhi GST Act 2017 : Furnishing details of outward supplies

Section 37 Delhi GST Act 2017 ( Section 37 Delhi GST Act 2017 explains Furnishing details of outward supplies  and is covered in CHAPTER- IX RETURNS ) Furnishing details of outward supplies 37. (1) Every registered person, other than an Input Service Distributor, a non resident taxable person and a person paying tax under the provisions of section 10 or section… Read More »

Section 33 Delhi GST Act 2017 : Amount of tax to be indicated in tax invoice and other documents

Section 33 Delhi GST Act 2017 ( Section 33 Delhi GST Act 2017 explains Amount of tax to be indicated in tax invoice and other documents  and is covered in CHAPTER- VII TAX INVOICE, CREDIT AND DEBIT NOTES ) Amount of tax to be indicated in tax invoice and other documents 33. Notwithstanding anything contained in this Act or any other… Read More »

Section 31 Delhi GST Act 2017 : Tax invoice

Section 31 Delhi GST Act 2017 ( Section 31 Delhi GST Act 2017 explains Tax invoice and is covered in CHAPTER- VII TAX INVOICE, CREDIT AND DEBIT NOTES ) Tax invoice 31. (1) A registered person supplying taxable goods shall, before or at the time of,– (a) removal of goods for supply to the recipient, where the supply involves movement of… Read More »

Section 30 Delhi GST Act 2017 : Revocation of cancellation of registration

Section 30 Delhi GST Act 2017 ( Section 30 Delhi GST Act 2017 explains Revocation of cancellation of registration and is covered in CHAPTER – VI REGISTRATION  ) Revocation of cancellation of registration 30. (1) Subject to such conditions as may be prescribed, any registered person, whose registration is cancelled by the proper officer on his own motion, may apply to… Read More »

Section 27 Delhi GST Act 2017 : Special provisions relating to casual taxable person and nonresident taxable person

Section 27 Delhi GST Act 2017 ( Section 27 Delhi GST Act 2017 explains Special provisions relating to casual taxable person and nonresident taxable person  and is covered in CHAPTER – VI REGISTRATION  ) Special provisions relating to casual taxable person and nonresident taxable person 27. (1) The certificate of registration issued to a casual taxable person or a non resident… Read More »

Section 26 Delhi GST Act 2017 : Deemed registration

Section 26 Delhi GST Act 2017 ( Section 26 Delhi GST Act 2017 explains Deemed registration  and is covered in CHAPTER – VI REGISTRATION  ) Deemed registration 26. (1) The grant of registration or the Unique Identity Number under the Central Goods and Services Tax Act shall be deemed to be a grant of registration or the Unique Identity Number under this Act… Read More »