The Section 15 of the CGST ACT 2017 states that the Value of Supply of Goods or Services or Both shall be the Transaction Value, which is the Price actually paid or payable for the supply of goods or services or both where the supplier and recipient of the supply are not related and the …
As per Section 9(5) of CGST Act, Electronic Commerce Operator (ECO) is required to pay tax on supply of services such as Passenger Transport Service, Accommodation services, Housekeeping Services & Restaurant Services, if such services are supplied through ECO. Does this provision apply if the electronic platform only connects drivers with passengers and not involved …
CGST section 9(5) does not apply to Namma Yatri! Read More »
The buyer must pay towards the supply of goods and/or services within 180 days from the invoice date to claim Input tax credit under GST. However, whether netting off the receivables/ payables can be considered as payment to the vendor? What if netting off is done with different GSTIN of the same person? Case Details …
GST ITC- Netting off receivables with payables under different GSTINs! Read More »
Renting of commercial property attracts 18% GST on lease rentals. However, if the owner of the property is non resident, does he need to take registration of GST in India? Will GST be applicable on such rentals? Case Details : GST on renting of immovable property held by Non resident Case Related To : NAGABHUSHANA …
Section 50 of the CGST Act, 2017 deals with Interest on delayed payment of tax. Sub-section 3 of it says that a taxable person who makes an undue or excess claim of input tax credit or excess reduction in output tax liability , shall pay interest on such undue or excess claim or on such …
GST- Interest on ITC wrongly availed but not utilised Read More »
Rule 138A of CGST Rules mentions Documents and devices to be carried by a person-in-charge of a conveyance. The documents include tax invoice, e-way bill, etc. However, if documents are carried in electronic form, is it suficient compliance? Case Details : GST- Production of invoice in physical form Case Related To : J. K. JAIN …
E-way bill is a document generated before commencing transportation of goods. If the assessee generates Part B of E-way bill, it is assumed that goods are in movement. However, if e-way bill is generated but transportation is delayed due to some reason, should the assessee cancel E-way bill? Case Details : GST- Gap of ten …
Now-a-days, companies declare many awards e.g. employee of the month to keep the employees motivated. The winners are given prizes in the form of Gift Vouchers/Cashback vouchers/E-vouchers. Companies purchase these vouchers at face value from the vendors. Are these vouchers taxable when sold by such vendors to the companies? Even if they are not redeemed …
If the assessee needs to know whether IGST is to be levied or CGST/SGST to be levied on the bill, he needs to know what is Place of Supply for the transaction. Section 13 of the CGST Act, 2017 contains rules for determination of Place of Supply. However, there can be difference of opinion for …
In 2019, CBIC published list of risky exporters and withheld their GST refunds. These were the persons who fraudlently claimed excess refunds on the basis of invalid documents. These parties were directed to pay the taxes along with interest and penalties. Can we say that once the assessee is declared as risky exporter, he can …
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