GST News And Announcements Archives | Page 3 Of 3

GST News and Announcements

Banking company is liable to pay GST on the entire value of service charges
GST Circulars
CA. Sachin Jindal

Banking company is liable to pay GST on the entire value of service charges

Introduction The board, vide circular no. 86/05/2019-GST dated 1st January, 2019, has clarified various issues with respect to services of BF or BC to the banking company and the same is highlighted in the current article. Banking company to pay GST on the entire value of service charges. Banking company is liable to pay GST on the entire value of service charges Services are provided by the BF/BC to the customers on behalf of the banking company. As per the agreement between the bank and the BC, BC cannot directly charge any fee to the customer. In fact, banks are

Read More »
Exemption for intra-State supply of gold
GST Notification
CA. Kapil Mittal

Exemption for intra-State supply of gold

Notification No.26/2018-Central Tax (Rate) – Exemption for intra-State supply of gold when supplied by Nominated Agency under the scheme for ‘Export Against Supply by Nominated Agency’ (“FTP Gold Export Scheme”) The CBIC has provided an exemption to intra-State supply of gold by Nominated Agency to a registered person (‘recipient’) subject ot the following conditions: The supply is in accordance with the FTP Gold Export Scheme (as referred to in paragraph 4.41 of the Foreign Trade Policy, read with relevant provisions of Chapter 4 of Handbook of Procedures). The Nominated Agency and the recipient shall follow the conditions and observe the

Read More »
Extension and waiver various GST returns till March 2019
GST Notification
CA. Sachin Jindal

Extension and waiver various GST returns till March 2019

Introduction The Goods and Services Tax (‘GST’) Council in its 31st Meeting held on 22 December 2018 has made several taxpayer-friendly decisions. Some of the decisions include providing an extension in the due dates for filing returns and waiver of late fees for those taxpayers who could not complete the GST registration process after obtaining provisional registration. In order to give effect to the decisions of the GST Council, the Central Board of Indirect Taxes and Customs has issued several notifications on 31 December 2018. The gist of the notifications along with the revised due dates/ compliance required and the

Read More »
GIST OF 31ST GST COUNCIL MEETING HELD ON 22ND DECEMBER, 2018
GST News and Announcements
CA. Sachin Jindal

Gist of 31ST GST Council Meeting held on 22ND December, 2018

Introduction GST Council in the 31st meeting held on 22nd December, 2018 at New Delhi took following decisions relating to changes in GST rates, and clarification (on Goods). The decisions of the GST Council have been presented in this note for easy understanding. The same would be given effect to through Gazette notifications/ circulars which shall have force of law.  1. GST Refund related changes affecting Refund claim in  Form GST RFD-01A A scheme of single authority for disbursement of the refund amount sanctioned by either the Centre or the State tax authorities would be implemented on pilot basis. Shortly new functionality

Read More »



Want to talk to us

Leave your Name, email, Phone number along with what you are looking for in message box or you can call us at 011-41715118

V J M & Associates LLP

Contact Us

X