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Articles by Bimal Jain

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Deferred the decision to change the rates in textiles from 5% to 12% w.e.f. January 01, 2022

  Bimal Jain    04 January 2022 at 16:26

The GST Council had taken a laudable decision to defer hike in GST rate on textiles from 5% to 12% w.e.f January 1, 2022 as it will give much-needed impetus and support to textile sector

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Posted in GST |   2748 Views


Certain changes in Goods Rate Notification from January 01, 2022 to align it with HS 2022

  Bimal Jain    30 December 2021 at 20:40

The CBIC vide Notification No. 18/2021-Central Tax (Rate) dated December 28, 2021 has issued amendments in the Goods Rate Notification w.e.f. January 1, 2022

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Posted in GST  1 comments |   5295 Views


Certain changes in the Concessional Rate Notification on specified handicraft items from January 01, 2022 to align it with HS 2022

  Bimal Jain    30 December 2021 at 20:32

The CBIC vide Notification No. 20/2021- Central Tax (Rate) dated December 28, 2021 has amended relevant entries of the Concessional Rate Notification w.e.f. January 1, 2022

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Posted in GST |   6714 Views


Changes in Compensation Cess Rate Notification w.r.t. supply of certain goods from January 01, 2022 to align it with HS 2022

  Bimal Jain    30 December 2021 at 20:17

The CBIC vide Notification No. 2/2021-Compensation Cess (Rate) dated December 28, 2021 has amended the relevant entries of the Compensation Cess Rate Notification w.e.f. January 1, 2022

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Posted in GST |   2079 Views


Certain changes in Goods Exemption Notification from January 01, 2022 to align it with HS 2022

  Bimal Jain    30 December 2021 at 20:17

The CBIC vide Notification No. 19/2021-Central Tax (Rate) dated December 28, 2021 has amended relevant entries of the Goods Exemption Notification w.e.f. January 1, 2022

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Posted in GST |   2802 Views


Clarification w.r.t recovery of self-assessed tax w.e.f. January 01, 2022

  Bimal Jain    23 December 2021 at 11:49

The Hon’ble Finance Minister, in Union Budget 2021-22, proposed changes vide the Finance Bill, 2021, that amends the Central Goods and Services Tax Act, 2017 ("the CGST Act") with respect to recovery of self-assessed tax

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Posted in GST |   6327 Views


Amendments proposed in Section 74, 107, 151, 152 and 168 of the CGST Act, 2017 w.e.f. January 01, 2022

  Bimal Jain    23 December 2021 at 11:28

The Hon’ble Finance Minister, in Budget 2021-22, proposed changes vide the Finance Bill, 2021, that amends the Central Goods and Services Tax Act, 2017 ("the CGST Act") with respect to amendments in Section 74, 107, 151, 152 and 168 of the CGST Act.

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Posted in GST  2 comments |   3840 Views


Amendments proposed in Section 129 and 130 of the CGST Act, 2017 notified w.e.f. January 01, 2022

  Bimal Jain    23 December 2021 at 10:16

The Hon'ble Finance Minister, in Union Budget 2021-22, proposed changes vide the Finance Bill, 2021, that amends the Central Goods and Services Tax Act, 2017 ("the CGST Act") with respect to amendments in Section 129 and 130 of the CGST Act.

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Posted in GST |   4134 Views


GST ITC available when reflected in GSTR 2A/ 2B w.e.f. January 01, 2022

  Bimal Jain    23 December 2021 at 10:04

The Hon'ble Finance Minister, in Budget 2021-22, proposed changes vide the Finance Bill, 2021, that amends the Central Goods and Services Tax Act, 2017 ("the CGST Act") to insert a new condition for availment of Input Tax Credit ("ITC") under the GST.

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Posted in GST  3 comments |   8202 Views


GST leviable on services provided by Club or Association to its members retrospectively w.e.f. July 01, 2017

  Bimal Jain    23 December 2021 at 09:51

The Hon'ble Finance Minister, in Union Budget 2021-22, proposed changes vide the Finance Bill, 2021, that amends the Central Goods and Services Tax Act, 2017 ("the CGST Act") to levy GST on services provided by Club or Association to its members.

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Posted in GST |   2355 Views




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