Daily Archives: October 2, 2017

Change Definition of Exempt Supply under GST : ICAI

By | October 2, 2017

Suggestions on GST Implementation Issues 28.09.2017 by ICAI Indirect Tax Committee Law Related Issues 5. Definition of Exempt Supply – In line with Govt. Policy As per the definition given in Section 2(47) of CGST Act, “exempt supply” means supply of any goods or services or both which attracts nil rate of tax or which… Read More »

Category: GST

Change definition of Electronic Commerce under GST : ICAI

By | October 2, 2017

Suggestions on GST Implementation Issues 28.09.2017 by ICAI Indirect Tax Committee Law Related Issues 4. Definition of Electronic Commerce Section 2(44) of the CGST Act defines the Electronic Commerce as supply of goods or services or both including digital products over digital or electronic network. Issue The current definition appears to include only ‘supply on… Read More »

Category: GST

GST : Composite supply if Separate consideration charged : ICAI raised Issue

By | October 2, 2017

Suggestions on GST Implementation Issues 28.09.2017 by ICAI Indirect Tax Committee Law Related Issues 3. Separate consideration charged for goods and services supplied in conjunction: Section 2(30) of the CGST Act, 2017 defines Composite supply as a supply made by a taxable person to a recipient consisting of two or more taxable supplies of goods… Read More »

Category: GST

Modify Definition of Capital Goods under GST : ICAI

By | October 2, 2017

Suggestions on GST Implementation Issues 28.09.2017 by ICAI Indirect Tax Committee Law Related Issues 2. Definition of Capital Goods Section 2(19) of CGST Act 2017 provides that “capital goods” means goods, the value of which is capitalised in the books of accounts of the person claiming the credit and which are used or intended to… Read More »

Category: GST

Modify Aggregate Turnover definiation under GST :

By | October 2, 2017

Suggestions on GST Implementation Issues 28.09.2017 by ICAI Indirect Tax Committee Law Related Issues 1. Definition of term Aggregate Turnover Section 2(6) of CGST Act provides that “aggregate turnover” means the aggregate value of all taxable supplies (excluding the value of inward supplies on which tax is payable by a person on reverse charge basis),… Read More »

Category: GST

Where to submit Affidavit to forgo Actionable Claim for Brand Name : Rajasthan Govt Circular No 02/2017

By | October 2, 2017

Rajasthan Govt issued Circular No 02/2017 Dated 29.09.2017 Subject Submission of affidavit to forgo actionable claim or enforceable right in respect of brand name  Download  Circular No 02/2017 Dated 29.09.2017   Related Topic on GST  Topic Click Link GST Acts  Central GST Act and States GST Acts GST Rules GST Rules  GST Forms GST Forms… Read More »

GST on Employee reimbursement : ICAI raised Issue

By | October 2, 2017

Suggestions on GST Implementation Issues 28.09.2017 by ICAI Indirect Tax Committee D. Twitter or FAQ related issues Solution provided through Twitter and /or FAQ in some cases are contradictory in nature and even FAQ are having disclaimer which is creating confusion. (xiv) Employee reimbursement Twitter has clarified that employee reimbursement are generally (with disclaimer) are… Read More »

Category: GST