Time to Issue GST Registration Certificate Section 23 (9) of Revised Model GST Law relating to Registration 9) A certificate of registration shall be issued in the prescribed form, with effective date as may be prescribed. Issue No Time Limit has been specified within which Certificate of Registration will be issued to the person under GST Regime… Read More »
Change in rate of tax in respect of supply of goods or services Provisions in Revised Model GST Law regarding Change in rate of tax in respect of supply of goods or services Section 14 of Revised Model GST Law provides as follow :- 14. Change in rate of tax in respect of supply of goods or services… Read More »
Taxation of Advance Payments received for goods/ services under GST Regime Provisions in GST relating to Taxation of Advance Payments for Goods or Services [ Read GST on Advance Payments of Goods & Services – Analysis after CGST Act 2017 and IGST Act 2017) In terms of section 12 (Time of Supply of Goods) & Section… Read More »
Remission of Tax in case of deficiency in Quantity supplied under GST Regime Provision in GST relating to Remission of Tax in case of deficiency in Quantity supplied Govt of India has deleted the Section 11 from Revised Model GST law which was found in the Old Model GST Law , dealing with remission of… Read More »
Power of Govt to retrospectively Change Exemption from GST Facts as per Section 11(3) of Revised Model GST Law Section 11 of Revised Model GST Law empowers Central/ State Governments to exempt …………………. Goods and/or services from whole or any part of the tax leviable thereon. But Section 11(3) provides as follow :- 11. Power to grant… Read More »
Levy & Collection of GST under Reverse Charge Section 8(3) of Revised Model GST Law, 8. Levy and Collection of Central/State Goods and Services Tax 3) The Central or a State Government may, on the recommendation of the Council, by notification, specify categories of supply of goods and/or services the tax on which is payable on… Read More »
Works contract under Revised Model GST Law Works Contract definition under Revised Model GST Law Section 2(110) of Revised Model GST Law, (110) “works contract” means a contract wherein transfer of property in goods is involved in the execution of such contract and includes contract for building, construction, fabrication, completion, erection, installation, fitting out, improvement, modification, repair, maintenance,… Read More »
Manufacturer under Revised Model GST Law, Definition of Manufacturer under Revised Model GST Law Section 2(63) of the Revised Model GST Law provides that :- (63) “manufacturer” shall have the meaning assigned to it by the Central Excise Act, 1944 (1 of 1944); Revised Model GST Law, :Repeal and saving Further, Section 164 of the Revised Model GST… Read More »
Taxation of Electricity under GST Regime Definition of Goods under Revised Model GST Law Section 2 (49) of Revised Model GST Law, defines goods (49) “ goods’’ means every kind of movable property other than money and securities but includes actionable claim, growing crops, grass and things attached to or forming part of the land which are agreed to… Read More »
Aggregate Turnover under GST Definition of Aggregate Turnover under Revised Model GST Law Section 2(6) define Aggregate Turnover under Revised Model GST Law as follow :- “Aggregate turnover” means the aggregate value of all taxable supplies, exempt supplies, exports of goods and/or services and inter-State supplies of a person having the same PAN, to be computed on all India basis… Read More »