Legal Update - Corporate Law Reporter

Govt. notifies the Supplies of goods for which no refund of unutilised input tax credit allowed u/s 54 (3) CGST

[TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No.5/2017-Central Tax (Rate) New Delhi, the 28th June, 2017 G.S.R. (E).- In exercise of the powers conferred by clause (ii) of the proviso to sub-section (3) of section 54… Read More

Central Govt.notifies reverse charge on specified supplies of goods u/s 9 (3)of CGST

The Central Government on the recommendations of the Council specifies the supply of goods in respect of which the central tax shall be paid on reverse charge basis by the recipient of the intra-state supply of goods. The notification can be read below: [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE… Read More

Govt. notifies concessional CGST rate for supplies to Exploration and Production under section 11 (1)

The Central Government on the recommendations of the Council, exempts intra-State supplies of goods from the central tax leviable under section 9 of the Central Good and Services Tax Act, 2017 in excess of the amount calculated at the rate specified therein and on certain conditions as specified in the appended schedule. [TO BE PUBLISHED IN… Read More

Govt. exempts goods notified under section 11 (1) of the CGST Act,2017

The Central Government on the recommendations of the GST Council exempts intra-State supplies of goods mentioned in the schedule from the whole of the central tax leviable under section 9 of the CGST Act, 2017. [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF FINANCE… Read More

Govt. notifies CGST Rates Schedule under section 9 (1) of the CGST Act, 2017

The Central Government on the recommendation of the Council notifies the Rate of Taxes that shall be levied on inter-state supplies of goods under CGST Act, 2017. Schedules are appended in this notification can be read below. [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF… Read More

Central Govt. prescribe rate of interest under CGST Act, 2017

The Central Government on the recommendation of the GST Council Fixes the Rate of Interest per annum for the sections mentioned in the table below. The Rate of Interest will be applicable from 1st July 2017. The Notification can be Read Below: [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3,… Read More

CBEC amends Notification No.6/2017-Central Taxes dt. 19 June 2017

Central Board of Excise and Customs amends the notification no. 6/2017 issued by the Government of India in the Ministry of finance on 19 June 2017. The amendments in this Notification shall be deemed to be enforceable from the date 22nd June 2017. The Notification can be read below: [TO BE PUBLISHED IN… Read More

Central Govt. notifies certain CGST Rules and Form formats

The Central Government amends Central Goods and Service Tax Rules, 2017 notified on 19 June 2017 to be enforceable from 1st July 2017. The Rules for the following chapters have been amended: Chapter IV – Determination of Value of Supply Chapter V – Input Tax Credit Chapter VI- Tax Invoice, Credit and Debit Notes Chapter… Read More

Central Govt. notifies certain provisions of CGST Act, 2017 enforceable w.e.f. 1st July 2017

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs Notification No. 9/2017 – Central Tax New Delhi, the 28th June, 2017 7 Ashadha, 1939 Saka G.S.R. …..(E).— In exercise of the powers conferred… Read More

GST Council relaxes norms in eastern states and HP under Central Tax

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 27th June, 2017 No. 8/2017-Central Tax G.S.R. 647(E).—In exercise of the powers conferred under the proviso to sub-section (1) of section 10 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred to as the said Act), the Central Government, on… Read More

CBEC amends certain rules under CGST Rules, 2017

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF EXCISE AND CUSTOMS) NOTIFICATION New Delhi, the 27th June, 2017 No. 7/2017–Central Tax G.S.R. 644(E).—In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government hereby makes the following rules to amend the… Read More

30 states have passed SGST legislation, FM urges J&K Chief Minister to pass GST Bill

After the most crucial four bills got president assent, finally passed in the month of April. All states except Jammu and Kashmir have passed State Goods and Service Legislation in their respective assemblies, paving way for easy transition and implementation of GST. From 1st July GST, it will subsume 16 different taxes.The Union Finance Minster,… Read More

Central Government defers TDS & TCS collection from e-commerce co’s and its suppliers

In order to ensure easy roll out of GST. Central Government has deferred the provisions relating to TDS ( Tax Deduction at Source) and TCS (Tax Collection at Source) for two categories - Persons liable to deduct tax at source, E-Commerce Companies and their suppliers. Public Information Bureau Government of India Ministry of Finance 26-June,… Read More