Category: TAX

The Government of India  , Ministry of Finance  ( Department of Revenue ) Central Board of Excise and Customs has issued Notification No.12/2018 – Central Tax , New Delhi, the 7th March, 2018 to amend Rule 138 of the CGST Rules , 2017 to envisage provisions regarding e-Way Bill . Also this amendment , except … Continue reading Significant Aspects of e-Way Bill :

Refunds of unutilized input tax credit at the end of any tax period  may be claimed and allowed in respect of supplies of export of goods or services or both as the case may be (being zero rated supplies) claimed and allowed if the following conditions are satisfied : The amount for which the claim … Continue reading Refund of Unutilized ITC In Cases of Export In GST Regime :

Query : A is situated in U.P. (India ) and B is situated in London . A is to provide some advisory services to B for which the payment is to be received in pound sterling. What is the nature of such services ? Whether such services shall constitute the export of services? Reply : … Continue reading GST Query Regarding Export of Advisory Services :

Exports of goods have always been given priority and adequate exemptions from the indirect taxes in order to promote them by the Government of India as well as the State Governments . The GST regime is also no exception to this concept to promote the exports as this is instrumental in fetching the foreign currency … Continue reading Significant Points Regarding Exports In GST Regime :

The GST Council chaired by Finance Minister Sri Arun Jaitely in its 25th meeting on 18th January , 2018 has recommended many relief measures regarding GST rates on goods and services covering many sectors and commodities. The Council has also recommended issuance of certain clarifications on issues relating to GST rates and taxability of certain … Continue reading Major Recommendations of GST Council on 18th January, 2018 :

  Ghee is different from Edible Oils and the difference lies on their ingredients , method of preparation and uses .While Ghee is listed in Chapter 4 of the Central Excise Tariff   (04059020) , Edible oils are listed in Chapter 15 of Central Excise Tariff . While Ghee is a dairy product and is … Continue reading Difference between Ghee and Edible oils:

By Notification No.11/2017-Central Tax ( Rate) Dated 28th June , 2017 following services listed at entry no. 24 have been exempted : "24 ( Heading 9986) Support services to agriculture , forestry , fishing , animal husbandry. Explanation : "Support services to agriculture , forestry , fishing , animal husbandry " mean – (i) Services … Continue reading SERVICES RELATED TO CHILLING OF MILK:

Sub-section (1) of Section 129 of the CGST Act / SGST Act , 2017 embodies following provisions : 129. Detention, Seizure and release of goods and conveyances in transit : (1) Notwithstanding anything contained in this Act, where any person transports any goods or stores any goods while they are in transit in contravention of … Continue reading Clarification Regarding Order U/S 129(3) :

GST Council in its 23 Meeting at Guwahati,Assam on 10th November,2017 had taken a major decision to reduce the GST rates on more than 200 items falling in Goods Category: In another significant change, the GST Council lowered the tax rate of restaurants to a uniform 5 per cent from 12 per cent on non-AC … Continue reading MAJOR CHANGES IN RATES OF TAX IN GST :

Educational services have always been kept out of the ambit of taxation and following the earlier tax structures , GST regime too , has provided exemption to such services . However clear demarcation has been made between the services provided by the educational institutions and the services provided to such institutions . Whereas services provided … Continue reading EDUCATIONAL INSTITUTIONS IN GST REGIME :