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Integrated Tax (Rate) 1. Rescinding Notification No. 15/2017-Integrated Tax (Rate) dated 30.06.2017 2. Seek to reduce the rate of Central Tax, Union Territory Tax, on fertilisers from 6% to 2.5% and Integrated Tax rate on fertilisers from 12% to 5% 3. Notification for Exemption from Integrated Tax to SEZ 4. To notify the categories of […]
Integrated Tax 1. Seek to reduce the rate of Central Tax, Union Territory Tax, on fertilisers from 6% to 2.5% and Integrated Tax rate on fertilisers from 12% to 5% 2. Notification for Exemption from Integrated Tax to SEZ 3. To notify the categories of services the tax on inter-State supplies of which shall be […]
Central Tax (Rate) 1. Seek to reduce the rate of Central Tax, Union Territory Tax, on fertilisers from 6% to 2.5% and Integrated Tax rate on fertilisers from 12% to 5% 2. To notify the categories of services the tax on intra-State supplies of which shall be paid by the electronic commerce operator 3. To […]
Central Tax 1. Amending CGST Rules notification 10/2017-CT dt 28.06.2017 2. Assigning jurisdiction and power to officers of various directorates 3. Seeks to prescribe rate of interest under CGST Act, 2017 4. Seeks to notify the number of HSN digits required on tax invoice 5. Seeks to amend Notification no 6/2017-Central Tax dt 19.06.2017 6. […]
After the spending, three days of Goods and Services (GST) Regime in India Cabinet Secretary PK Sinha on Monday conducted a review meeting to evaluate the stock after the implementation of new indirect taxation regime. The Cabinet Secretary has asked from all ministers and departments to give their views about the new regime.
The government has issued notification for the implementation of Central Goods and Service Tax (CGST) regime from 1st July and clarified that the new indirect taxation regime is absolutely correct.
The government has tried all sorts of implementation and improvement strategies with the goods and services tax and now the government along with the finance ministry installed a mini War-room within the premises of finance ministry department.
Reverse charge is a mechanism under which the recipient of the goods or services is liable to pay the tax instead of the provider of the goods and services. Under the normal taxation regime, the supplier collects the tax from the buyer and deposits the same after adjusting the output tax liability with the input tax credit available. But under reverse charge mechanism (RCM), liability to pay tax shifts from supplier to recipient.
The registrations are again up for the taxpayer’s community who had missed the previous timelines but this time with a more tight area for the process. The GST network is open for the assessees to register within the GST with less than a week away from the ultimate roll out.
