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Assessment and Audit in GST Law

July 24, 2017July 24, 2017 TaxIndiaUpdates In0 comments7201 views

Assessment and Audit in GST Law: In the Central Goods and Services Tax Act, 2017 Chapter XII (Sec. 59 to Sec. 64) and Chapter XIII (Sec. 65 and Sec. 66) deals with assessment and audit respectively. The topic wise discussion on assessment and audit is as … Continue Reading →

customs

CBEC Customs Exchange Rates w.e.f. 21-07-2017

July 21, 2017August 1, 2017 TaxIndiaUpdates In1 comments18127 views

CBEC Customs Exchange Rates Effective from 21-07-2017 New CBEC Customs Exchange Rates of Conversion of Foreign Currency as per Exchange Rate Notifications (as amended by Notification No. 72/2017 – Customs (N.T.) dated 20-07-2017) issued by CBEC w.e.f. 21-07-2017 is as under: Schedule-I Sl. No. Foreign Currency … Continue Reading →

Goods and Service Tax

Levy of GST on Goods and Services

July 5, 2017 TaxIndiaUpdates In0 comments8366 views

Taxable Event under GST (Levy of GST): The charging event or levy is the event which determines whether an activity attracts the charge. However tax may be collected before or after the event for the sake of administrative certainty or convenience. Taxable event under GST Law is … Continue Reading →

Goods and Service Tax

Refunds Procedure in GST

July 1, 2017July 25, 2017 TaxIndiaUpdates In0 comments5690 views

Chapter XI of the Central Goods and Service Tax Act 2017 (Sec. 54 to Sec. 58) deals with Refunds Procedure in GST Law: REFUNDS Refund of tax. (1) Any person claiming refund of any tax and interest, if any, paid on such tax or any … Continue Reading →

Goods and Service Tax

Inspection, Search, Seizure and Arrest in GST Regime

July 1, 2017July 25, 2017 TaxIndiaUpdates In0 comments5497 views

Chapter XIV of the Central Goods and Services Tax Act 2017 (Sec. 67 to Sec.72) deals with Inspection, Search, Seizure and Arrest in GST Regime: Power of Inspection, Search and Seizure (Section 67) (1) Where the proper officer, not below the rank of Joint Commissioner, … Continue Reading →

Goods and Service Tax

Tax on e-Commerce in GST Era

July 1, 2017July 18, 2017 TaxIndiaUpdates In0 comments5785 views

Tax on e-Commerce in GST Era: A special attention is given on E-tailers like Amazon India, Flipkart, eBay etc. in new indirect tax law i.e. GST. In last few years the e-shopping get massive attraction by Indian customers which opens new source of revenue to … Continue Reading →

Goods and Service Tax

Offences, Penalties, Prosecution and Compounding in GST Law

July 1, 2017July 25, 2017 TaxIndiaUpdates In0 comments4581 views

Chapter XIX of the Central Goods Services Tax Act, 2017 (Sec. 122 to Sec. 138) deals with Offences, Penalties, Prosecution and Compounding in GST law: Penalty for certain Offences (Section 122) (1) Where a taxable person who–– (i) supplies any goods or services or both without issue … Continue Reading →

Goods and Service Tax

GST Transitional Provisions to Switch from Existing Law

July 1, 2017July 24, 2017 TaxIndiaUpdates In0 comments5603 views

After introduction of GST, various Central and State Level taxes have been subsumed in GST. There are no. of on going transaction which continue on or after appointed day (i.e. 01-07-2017) and they have already charged to tax under earlier taxation law. The GST Transitional … Continue Reading →

Goods and Service Tax

Payment of Taxes under Goods and Service Tax Law

July 1, 2017July 18, 2017 TaxIndiaUpdates In0 comments6211 views

Payment of Taxes under Goods and Service Tax Law: Ease in making payment towards tax and other dues is very important in a country like India. Challenge before the PM Modi Government is to usher in a mechanism of payment which is user friendly and … Continue Reading →

Goods and Service Tax

Place of Supply in Goods and Service Tax

July 1, 2017July 23, 2017 TaxIndiaUpdates In0 comments6389 views

Place of Supply of Goods or Services or Both: The basic principle of GST is that it should effectively tax the consumption of such supplies at the destination thereof or as the case may at the point of consumption. So place of supply provision determines … Continue Reading →