Notification no. 49/2019 - central tax dated 09-10-2019
The CBIC, vide Notification No. 49/2019 – Central Tax dated October 9, 2019, had, inter alia, inserted a new sub-rule (4) to Rule 36 of the Central Goods and Services Tax Rules, 2017 which states that a registered person can claim maximum 20% ITC from the eligible credit available in GSTR 2A against those invoices or debit notes which is not filed by their supplier in GSTR 1 (which means Invoices or Debit notes not showing in GSTR 2A).
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Job work service to foreign customer under gst: aar
18% GST applicable to Job Work Service to Foreign Customer: AAR Fact of the Case 1. M/s Synthite Industries is the applicant in the present case. 2. It entered into a contract with foreign company as Job Worker for processing of tea. Raw material /packing material and all other things are supplied by the foreign company & after completion of processing work it will be exported to the principal.
Read MoreGist on gst amendment act 2018 applicable w.e.f. 01.02.2019
GST Amendment Act 2018 applicable w.e.f. 01.02.2019 vide Notification No. 02/2019 – Central Tax Dated 29th January, 2019. ???????Section 9(4) – Application Reverse charge Mechanism in case of purchase from unregistered persons. Reverse Charge shall be applicable on notified classes of registered person for the purchase of specified goods and services from unregistered dealers. The Government shall, by notification, specify such “specified goods or services and specified classes of...
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Zero rated supply igst act
ZERO RATED SUPPLY IGST Act 16. (1) “zero rated supply” means any of the following supplies of goods or services or both, namely:–– export of goods or services or both; or supply of goods or services or both to a Special Economic Zone developer (SEZ) or a Special Economic Zone unit (SEZU).
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Apportionment of credit and blocked credits-section 17 of cgst act
Apportionment of credit and blocked credits. Section 17 of CGST Act Apportionment of credit and blocked credits Section 17 (5) Section 17(5)(a), (aa) [newly inserted subsection] and (ab) [newly inserted subsection] – Blocked credit on motor vehicles Section 17 (5)(a) –– ITC Shall not be available in respect of Motor vehicles for transportation of persons having approved seating capacity of not more than thirteen persons (including the driver) except when they are used for furthe...
Read MoreGstn: downloading document-wise details of table 8a of form gstr-9
1. A facility has been provided to the taxpayers to download document wise details of Table 8A of Form GSTR-9, from the portal in excel format. This can be done by using a new option of ‘Document wise Details of Table 8A’ given on the GSTR-9 dashboard, from Financial Year 2018-19 onwards. This will help the taxpayer in reconciling the values appearing in Table 8A of Form GSTR 9, thus facilitate filling the Form GSTR 9.
Read MoreSummary of key decisions in 43rd gst council meeting
The 43rd GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman through video conferencing here today. The meeting was also attended by Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur besides Finance Ministers of States & UTs and senior officers of the Ministry of Finance & States/ UTs. The GST Council has made the following recommendations relating to changes in GST rates on supply of goods and services and cha...
Read MoreChanges in gst law effective from january 1st 2022
Blocking of GSTR-1 for non-filing of GSTR 3B:- GSTR-1 return filing facility will be blocked on failing of submitting GSTR 3B for two previous periods. GST Provision related to Input Tax Credit to the recipient:- The provisions of Section 16 of the CGST Act has been amended wherein clause 16(2) (aa) inserted. As per this provision, the details of the purchase invoice or debit note referred to in clause (a) should be furnished by the supplier in the statement of outward supplies (i.e. GSTR...
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