GST 2016

Analysis of Place of Supply rule of IGST sec-10 and “Bill To Ship To”

GST is principally “Destination based tax” which means tax will charged based on ultimate destination of Goods. Section 10 of IGST Act also confirm the same in Sec-10(1)(a), which says. “where the supply involves movement of goods, whether by the supplier or the recipient or by any other person, the place of supply of such goods shall be the location of the goods at the time at which the movement of goods terminates for delivery to the recipient;” But Sec-10(1)(b), has the different provision from stated above and this provision says the Place of supply will the location of Third party where the Goods move from one place other under instruction of third person, in such situation it is possible that Destination location of the Goods may not be the location of the Third person who has facilitated or instructed for the transaction.

By whatsq, ago
GST 2016

GST 23rd Meeting Highlights

GST 23rd Meeting Highlights   “Goods and Service Tax” Changes in GST return filling • The time period for filing GSTR-2 and GSTR-3 for the months of July, 2017 to March 2018 would be finalized by a Committee of Officers. Till then, filing of GSTR-1 will continue for the entire period Read more…

By whatsq, ago
GST 2016

India GST News: 1 Minute read 11th Oct 2017

Finance Minister @ColumbiaSIPA: The world can look forward to a bigger & cleaner Indian Economy in the coming years. @FinMinIndia pic.twitter.com/XAOrou2gOT — India in New York (@IndiainNewYork) October 10, 2017 IGST refund Scroll for 271 Shipping Bills amounting ₹10.5 Crs generated . IGST refund will be credited soon in exporters Read more…

By whatsq, ago
GST 2016

GSTR1: last date for filing GSTR-1 for July

Today is the last date for filing GSTR-1 for July !!! #GoodAndSimpleTax pic.twitter.com/qaBD8BSmtT — GST@GoI (@askGST_GoI) October 10, 2017 Taxpayers pls note 10th Oct is the last date for filing your GSTR 1. After 10th Oct, GSTR 1 will not be possible to be filed till 30th Oct. pic.twitter.com/unPZEPyFR6 — Read more…

By whatsq, ago
GST 2016

Press release for 22nd GST Council meeting

Followings were the major points for 22nf GST council meeting Turnover for composition scheme raised from ₹75 Lakhs to₹ 1 crores. E-way bill provisions deferred till April 2018. Reverse charge to be abolished till 31.03.2018. Quarterly returns for taxpayers with annual turnover less than ₹1.5 crores. Tax to be paid Read more…

By whatsq, ago
GST 2016

Home Buyers under GST

जीएसटी के तहत घर ख़रीदारों पर कोई अतिरिक्त बोझ नहीं हैं । माल और सेवा कर – अच्छा है सरल हैं #GSTSimplified pic.twitter.com/pdOsK6ElPc — GST@GoI (@askGST_GoI) September 16, 2017 No additional burden on Home Buyers under GST #GoodAndSImpleTax #GSTSimplified pic.twitter.com/KcIDRgxzuh — GST@GoI (@askGST_GoI) September 16, 2017

By whatsq, ago