GST Articles

Will GST be exempt on face masks, PPE Kits, and Sanitisers amidst COVID-19?

Posted by Sanchit Aggarwal 21 April 2020 12844 Views

GST on face masks, PPE Kit, santisiers, and ventilators is 5%, 12%, 18%, and 12%. The government has exempted basic custom duty on these products. But GST continues to be levied.

GST: Whether goods can be detained for allegation of under valuation?

Posted by Pradeep Jain 20 April 2020 2328 Views

It is being observed time and again since the implementation of e-way bill mechanism in GST, the goods are being detained for minor discrepancies. However, it was reported recently that the goods were detained even when they were accompanied by valid invoices and e-way bill on the reason of under-valuation.

Implications on ITC on account of non payment to supplier within 180 days

Posted by nikhil anand 20 April 2020 3142 Views

Amount towards the value of supply along with tax payable thereon is not paid to the supplier within 180 days from the date of issue of invoice, an amount equivalent to input tax credit availed shall be reversed in the manner prescribed under Rule 37 of the CGST Rules.

Transfer of under construction project do not attract GST: AAR

Posted by CA CMA Piyush Taurani 20 April 2020 1062 Views

The AAR ruled that the hat the transfer of under-construction projects under the 'Business Transfer Project' is exempted under Goods Service Tax (GST).

20% Formula for Input Credit - Is History repeating itself?

Posted by Seetharaman K C 20 April 2020 28425 Views

The Central Board of Indirect Taxes and Customs issued notification no 49/2019 dated 09-10-2019, amending the rules for claiming Input Tax Credit wherein the government has capped the ITC that a registered person can claim.

Condition for claiming refund of unutilised Input Tax Credit(ITC)

Posted by Member (Account Deleted) 20 April 2020 3649 Views

The refund of accumulated ITC shall be restricted to the ITC as per those invoices, the details of which are uploaded by the supplier in FORM GSTR-1 and are reflected in the FORM GSTR-2A of the applicant.

CBIC clarification on GST refund matters and GSTR-7

Posted by CS Lalit Rajput 19 April 2020 5009 Views

CBIC issued a clarification on GST refund matters and GSTR-7. GST refund can be claimed either in GST RFD-01 or by issuing a credit note depending upon the circumstances.

Compliance related Relaxations under GST lockdown

Posted by Hemant Kumar Gupta 19 April 2020 4945 Views

Various GST relaxations have been given to the taxpayers amidst the outbreak. GST relaxations have been given in the form of extension of due dates and reduction in interest rates.

Registration at Place of Importation is no more a conundrum in GST Law

Posted by Deepali Mishra 18 April 2020 7125 Views

As per Advance rulings the place of supply of imported goods, it can be concluded that since the importer has no establishment or place of operation or any godown or GSTIN at the port of import, thus the place from where he ordinarily carries on his business shall be deemed to be the place from where he makes the taxable supplies.