CA Rashmi Jain
27 articles written by CA Rashmi Jain on ConsultEase.
GST – Landmark judgment GST liability will be huge
GST – Landmark judgment GST liability will be huge. As SC has interpreted article 243 of COI New Okhla Industrial Development Authority (NOIDA) is not a Municipality’ as contemplated in clause (e) of Article 243Pof Constitution; nor is it covered by definition of local authority
CBIC extends officer-interface mechanism for SB005 errors, GSTIN correction utility for SB003 errors
CBIC extends officer-interface mechanism for SB005 errors, GSTIN correction utility for SB003 errors CBIC vide Circular No.15/2018-Customs – dated – June 06, 2018 extends the alternative mechanism of officer interface to resolve mismatches between invoice details in GST Returns and those in Shipping Bills filed
Clarification on taxability of “tenancy rights “under GST
Clarification on taxability of “tenancy rights “under GST Clarification on taxability of “tenancy rights “under GST is a bit confusing. Doubts have been raised as to whether tenancy premium shall attract GST when stamp duty and registration charges are levied on the said premium. Further,
Points to consider for books finalisation
Points to consider for books finalisation 1. Please note E-way Bill is applicable from 01-04-2018 for all Inter-State movement of goods Valuing more than Rs. 50,000. 50000 value is inclusive of tax in the invoice. 2. Also as the New Financial Year commences from tomorrow,
ITC on Motor Vehicle in GST
ITC on Motor Vehicle in GST Under Section 17 (5) of CGST Act ITC on motor vehicle is not allowable. A point was being agitated in the mind of learned professionals as to whether ITC on repair and maintenance would be allowable or not. The
Taxability of Advances Received Under GST
Time of Supply is the key factor that determines the taxability of advances. 1. Whether the supplier of goods is liable to pay GST on receipt of advances? a) Time of supply is the key factor for determining the due date for payment
Provisions of Supply in GST
Supply in GST: Composite Supply ,Mixed Supply and Principal Supply Three new types of Supply have been introduced in the India’s CGST Act i.e. Composite Supply; Mixed Supply and Principal Supply. Here we will explain the provisions for Supply in GST. Section 2
Challenges before the GST council
1.We all know maximum GST rate pegged at 40 percent? Will it be used? 2.Sin Goods or demerit goods i.e. tobacco; aerated water, luxury cars etc. will attract the highest GST rate and with Cess. Further most of such goods will not enjoy ITC
GST Implementation and Compliance
GST Implementation and Compliances – Are you ready 1st July or 1st September 2017 – India’s GST is now a certainty. But are the stake holders ready; their IT systems ready and above all have all the stake holders including the Central Government and State
how to address the Change in Law in GST
how to address the issue of Change in law in GST and claim from the contractees the additional tax burden that may be imposed on contractors/sub-contractors Here we will explain the way to address the issue of Change in law in GST and claim from the
Anti profiteering provision in GST
Anti profiteering provision in GST – Is this provision a regressive provision? 1. GST will be all -pervasive with every taxpaying entity under its net. The revised model law is widely viewed by the industry to be liberal in many aspects. It has done away
GST AND WORKS CONTRACT TRANSACTIONS
GST AND WORKS CONTRACT TRANSACTIONS – DEMYSTIFICATION PRE GST AND POST GST IMPLICATIONS Through Section 3 read with Schedule II, Model GST Law taxes works contract as “service” and tax would be payable accordingly. Presently, under Section 66E(h) of Finance Act 1994, service portion of