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Clarification issued on procedure to opt for 6% tax under Service Composition Scheme

CBIC issues Clarification on procedure to opt for 6% tax under Service Composition Scheme Attention is invited to notification No. 02/2019-Central Tax (Rate) dated 07.03.2019 (hereinafter referred to as “the said notification”) which prescribes rate of  central tax of 3% on first supplies of goods...

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How to manage transfer of input tax credit when sole proprietor died ?

Doubts have been raised whether sub-section (3) of section 18 of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as (CGST Act) provides for transfer of input tax credit which remains un-utilized to the transferee in case of death of the sole...

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Changes in new GST registration verification process

NEW REGISTRATION _GST

Recently, a large number of registrations have been cancelled by the proper officer under the provisions of sub-section (2) of section 29 of the Central Goods and Services Act, 2017 (hereinafter referred to as (CGST Act) read with rule 21 of the Central Goods and...

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AAR of Maharashtra on back office work by Indian Firm

Facts: Vserv Global (P.) Ltd. (the Applicant) is an Indian Company incorporated to provide back office support services to overseas companies engaged in Trading of Chemicals and other products in International Trade. The orders for supply of said services are received in its Mumbai office and also...

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34th GST Council meeting’s extract on Real Estate Sector

34th GST Council meeting held on 19th March, 2019 at New Delhi discussed the operational details for implementation of the recommendations made by the council in its 33rd meeting for lower effective GST rate of 1% in case of affordable houses and 5% on construction of houses...

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AAR on sale of going business is supply of goods or service or goods and services?

Authority for Advance Ruling (AAR) decision on lump sum amount received on transfer of going business along with assets-liabilities is a supply of Services   Facts: Rajashri Foods Pvt. Ltd. (Applicant), The Applicant having three manufacturing units situated at Ramanagara, Hiriyur and Seshadripuram. The Applicant...

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GST Advance Ruling on Registration of Transport Services Provider

Advance Ruling

Facts:The applicant ” M/s K M Trans Logistics Pvt Ltd.” is a service provider having registered office at Jaipur and providing transport services to various manufactures of motor vehicles for carrying their vehicles from the factory to various cities in India where the authorized dealers...

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Provision related to Refund under GST Law

There are certain situations under which you can claim refund under GST law.  Due to zero rates on Export, and inverted tax on certain supply, i.e. inward supply is taxed more than outward supply.  As per section 54(1) of CGST Act, 2017 Application for refund...

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New Provision relating to set off of input tax credit (ITC) under GST

Introduction:- The GST Regimes has three tax mechanism i.e. CGST, SGST/UTGST, IGST. Igst is leviable on inter-state supplies. While CGST & SGST/UTGST leviable on intra state supplies. Section 49(5) of CGST Act, prescribes the manner of utilization of credit remains in Electronic credit ledger. However,...

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Updated Draft regarding Lapse of ITC Under GST Act

10 Highlights of Undated Draft Circular of August 2018 -354/290/2018-TRU regarding (Input Tax Credit) ITC to Lapse. The Tax Research Unit of CBIC has issued a draft circular to address the controversy arising due to lapse of credit in respect of fabrics vide Notification 20/2018....

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