Goods and Service Tax

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GST refunds

Reading Time: 2 minutes GST refunds, It has been noticed that unverified reports of pending GST refunds on account of exports are published in the print media by trade bodies. These figures being put out in the public domain are exaggerated and thus inaccurate. It is a fact that a large number of exporters have been granted refunds so far
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Tax Collection at Source FAQs

Reading Time: 1 minute Tax Collection at Source FAQs, The Provisions of Tax Collection at Source (TCS) will come into force from Oct 1, 2018. the  Law Committee GST Council have issued a set of Frequently Asked Questions on Tax Collection at Source. Tax Collection at Source FAQs Tax Collection at Source FAQs Tax Collection at Source FAQs Also Read: TCS Mechanism under GST

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GSTN

Reading Time: 2 minutes Cabinet approves increasing of Government ownership in Goods and Services Tax Network and change in the existing structure with the transitional plan The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has approved increasing of Government ownership in Goods and Services Tax Network (GSTN) and change in the existing structure with the transitional
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Reading Time: 2 minutes GST Fraud, Zonal Unit of the Directorate General of GST Intelligence (DGGI) have arrested two businessmen, namely, Sh. Vikas Goel, Director of M/s Mica Industries Ltd, Delhi and Bhiwadi& M/s. Satellite Cables Pvt Ltd., Bhiwadi and Sh. Raju Singh Proprietor of M/s Galaxy Metal Products on 14.09.2018 in a case of fraudulent issuance of Input
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TCS Mechanism under GST

Reading Time: 4 minutes TCS Mechanism under GST, Tax Collection at Source (TCS) has similarities with TDS, as well as has distinctive features also. TDS refers to tax which is deducted when the recipient of goods or services makes some payments under a contract etc. while TCS refers to tax which is collected by the electronic commerce operator when
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TDS Mechanism under GST

Reading Time: 4 minutes TDS Mechanism under GST, Under the GST regime, section 51 of the CGST Act, 2017 prescribes the authority and procedure for ‘Tax Deduction at Source’. The Government may order the following persons (the deductor) to deduct tax at source: (a) a department or establishment of the Central Government or State Government; or (b) local authority; or
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GST Practitioners Exam

Reading Time: 2 minutes GST Practitioners Exam, The National Academy of Customs, Indirect Taxes and Narcotics (NACIN) has been authorized to conduct an examination for confirmation of enrollment of Goods and Services Tax Practitioners (GSTPs) in terms of the sub-rule (3) of rule 83 of the Central Goods and Services Tax Rules, 2017, vide Notification No. 24/2018-Central Tax dated
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GST on Stockbroking

Reading Time: 7 minutes GST on Stockbroking, The CBIC has published the FAQs on different topics and sectors. Following are the FAQs on Stock broking Sector under GST:- Q-1. In the case of stockbroking, whether stamp duty or securities transaction tax or other Central or State taxes would be considered as a part of the value of supply as prescribed
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GST on Insurance Sector

Reading Time: 4 minutes GST on Insurance Sector, The CBIC has published the FAQs on different topics and sectors. Following are the FAQs on Insurance Sector under GST:- GST on Insurance Sector Q-1: What is the location of the supplier of service for fund management charges in ULIP policies? Ans: The fund management charges are charges towards managing and administering the
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