Rate of exchange of currency, other than Indian rupees, for determination of value The rate of exchange for determination of value of taxable goods or services or both shall be the applicable RBI reference rate for…
The GST regime of indirect taxation has subsumed most of the indirect taxes levied on the sale and purchase of goods and services in India. The price of numerous commodities and services have been affected due to…
Generally, GST is imposed on a supplier of goods and service at the time of receipt of payment. However, in some cases, an advance payment is first made by the recipient of the goods or/and…
GST Council's latest meeting Decisions and their Impact The meeting of the GST Council's 32nd Council was concluded on January 10 and according to the expectations of the decisions taken in the interest of small and…
TCS provisions has been made effective from 01.10.2018 TCS refers to the tax collected by electronic commerce operator when supplier supplies goods or services through portal and the payment for that supply is collected by the E Commerce operator. Eg: Flipkart, Amazon which…
Circular No. 85/04/2019-GST No. 354/428/2018-TRUGovernment of IndiaMinistry of FinanceDepartment of RevenueTax research Unit**** Room No. 156, North Block,New Delhi, the 1st January, 2019 To, The Principal Chief Commissioners/ Chief Commissioners/ PrincipalCommissioners/ Commissioner of Central Tax (All)…
The GST experts had not agreed with the introduction of late fees for delayed fees to be introduced during the GST, because the GST law was new and the laws of the late fees were not only…
Due date for furnishing the GSTR 8 statement for the months of October, November and December, 2018 shall be 31st January, 2019 – Order No. 04/2018-Central Tax dated 31st December, 2018. Government of IndiaMinistry of Finance(Department…