December 20, 2017

Key Takeaways from 24th GST Council Meeting

System for both inter-State and intra-State e-way Bill generation will be ready by 16th January, 2018.
Uniform system implemented for inter-state and intra-state movement will be implemented across the country by 01th June 2018.
The nationwide e-way Bill system will be ready to be rolled out on a trial basis latest by 16th January, 2018.
Trade and transporters can start using this system on a voluntary basis from 16th January, 2018.
Compulsory implementation for Inter-state movement of Goods w.e.f 01^st February 2018.

[pdf-embedder url=”https://vjmglobal.com/wp-content/uploads/2017/12/24th-GST-Councile-Meeting-Press-Release.pdf” title=”24th GST Councile Meeting-Press Release”]

Read all GST Council Meetings , Relief To Business In GST 23rd Council Meeting

DISCLAIMER: The views expressed are strictly of the author and VJM & Associates LLP. The contents of this article are solely for informational purpose. It does not constitute professional advice or recommendation of firm. Neither the author nor firm and its affiliates accepts any liabilities for any loss or damage of any kind arising out of any information in this article nor for any actions taken in reliance thereon.

No GST on ocean freight under Reverse Charge Mechanism on CIF Contract

10 Key GST Amendments with effect from 01.01.2022

Clarification in respect of certain GST related issues

Service provided by subsidiary/ sister concern/ group concern located in India to Foreign Company located outside India is considered as Export

Council Meetings

Takeaways from 48th GST Council Meetings

In the 48th GST Council meeting, the GST council suggested changes in GST rates of certain products, clarified GST rates applicable, decriminalization of certain offenses under GST, rationalization of GST provisions, etc.

19/12/2022 No Comments

No GST on ocean freight under Reverse Charge Mechanism on CIF Contract

Judgements

No GST on ocean freight under Reverse Charge Mechanism on CIF Contract

Under the CIF contract, Ocean freight is payable by foreign exporters to the foreign shipping company. As per N/No. 8/2017, GST is payable on the value of transportation of goods by a vessel from a place outside India to a customs station of India at @5%.

20/09/2022 No Comments

10 Key GST Amendments with effect from 01.01.2022

Goods and Service Tax

10 Key GST Amendments with effect from 01.01.2022

In this directions, CBIC has announced some major amendments in Goods and Service Tax which are to be made effective from 01.01.2022. Following are the key changes becoming applicable from 01.01.2022:

01/01/2022 No Comments

Let us help you

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

We serve on FDI advisory, cross-border accounting, International tax planning and Management consulting needs of our overseas clients all over the world.

Contact us

Corporate Office: 601, 6th Floor, GMIT Park, Sector 142, Noida Exp Way, Noida – 201305

Registered Office: 44, Backary Portion, 2nd Floor, Regal Building, New Delhi 110001

Landline: 0120-4415477-78
info@vjmglobal.com
+91 9891576441, 9213397070, 9911887030