Category: GST

Input Tax Credit Rules under CGST Rules 2017

  Doc­u­men­tary require­ments and con­di­tions for claim­ing input tax cred­it.- (1)The input tax cred­it shall be availed by a reg­is­tered per­son, includ­ing the Input Ser­vice Dis­trib­u­tor, on the basis of any of the fol­low­ing doc­u­ments, name­ly,-   an invoice issued…

Registration Rules under CGST Rules 2017

 8. Appli­ca­tion for reg­is­tra­tion.- (1) Every per­son, oth­er than a non-res­i­­dent tax­able per­son, a per­son required to deduct tax at source under sec­tion 51, a per­son required to col­lect tax at source under sec­tion 52 and a per­son sup­ply­ing online information…

Composition Rules of CGST Rules 2017

3. Inti­ma­tion for com­po­si­tion levy.- (1) Any per­son who has been grant­ed reg­is­tra­tion on a pro­vi­sion­al basis under clause (b) of sub-rule (1) of rule 24 and who opts to pay tax under sec­tion 10, shall elec­tron­i­cal­ly file an intimation…

Central Goods and Services Tax (CGST) Rules, 2017

CHAPTER I PRELIMINARY CHAPTER I PRELIMINARY 1. Short title and Com­mence­ment.- (1) These rules may be called the Cen­tral Goods and Ser­vices Tax Rules, 2017. (2) They shall come into force with effect from 22nd June, 2017.2. Def­i­n­i­tions.- In these…

GST rate will be lower than speculated 27%

Finance Min­is­ter Arun Jait­ley cleared the air on the GST (Goods and Ser­vices Tax) rate. While reply­ing to the debate on the Con­sti­tu­tion Amend­ment Bill, which was sub­se­quent­ly passed by the Lok Sab­ha, he said the GST rate will be…

IT platform for GST will be ready on time

The Empow­ered Com­mit­tee of Finance Min­is­ters on Goods and Ser­vices Tax (GST) feels con­fi­dent that the required IT plat­form would be ready by the time GST is intro­duced. “We have con­sid­ered the progress and action plan of GST Net­work Company…

Govt agrees, Lok Sabha to take up GST after finance Bill

The gov­ern­ment on Mon­day acced­ed to the Con­gress-led opposition’s demand in Par­lia­ment to defer a dis­cus­sion on the goods and ser­vices tax (GST) con­sti­tu­tion­al amend­ment bill till after the pas­sage of the finance bill in the Lok Sab­ha. The Con­gress and…