Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
After the implementation of GST, it was significant to the under various provision regarding the ITC availability in the matter of sale and purchase of capital goods under the goods and services tax regime.
The sub-section (2) of section 146 of the Customs Act,1962 (52 of 1962) defines Custom house agents as the persons registered, provisionally or else, to be employed by the licensee to help him in his work as an agent. There are so many confusion regarding the Custom House Agents provisions under GST Regime, so here is the article to solve all the doubts pertaining the same.
Definition Of AAR Under Section 100 Of The CGST Act, 2017: An Authority For Advance Rulings (AAR) is a platform to resolve the doubts regarding Goods and Services Tax on questions specified under CGST act.
To load off the GSTN glitches in return filing and pending issues, the Confederation Of Indian Industry (CII) urged the government for some revisions in return filing due dates and regulations.
After two and half months implementation of Goods and Services Tax (GST), the cost of truckers has risen due to increase in the prices of diesel in some busy routes. The transport industry is troubling with the new indirect tax regime, as it creating confusion and worrisome among Small and Medium Enterprises (SMEs), which is resulting in losing a large number of jobs.
The GSTR-7 is the GST return form for filing the returns for the tax deducted at source. The form is to be filed by 10th of the next month for a particular tax period, by all the eligible taxpayers who deduct tax at source.
GSTR – 6 Return form for all the input service distributors whom have registered under the Goods and Services Tax (GST). Every Input Service Distributor (ISD) will require to furnish the details of invoices in GSTR- 6 form at GSTN portal.
In the series of GSTR return form filing, we have already discussed the procedures for filing GSTR-1, GSTR-2, GSTR-3, and GSTR-4; this is GSTR-5 for the person registered under GST and is a non-resident. It requires the detailing of inward and outward supplies from the business.
Adverse effects of GST(Goods and Services) regime can be clearly seen over handicraft industries. Census data says there is a huge downfall in handicraft industry from 1996 to 2010. The growth has slashed by approx. 53% which is a drastic price change we can see on hand-made products. Apart from this, the new tax framework also intercepting the growth of the industry.
