Through GST Notification No. 07/2025 - Central Tax, dated January 23, 2025, The Ministry of Finance, has announced the changes to the Central Goods and Services Tax (CGST) Rules, 2017. The introduction of Rule 16A is among the prominent updates that ease
Amended and updated notes on section 125 of CGST Act, 2017. Detail discussion on provisions and rules related to general penalty. Chapter XIX (Sections 122–138) of the Central Goods and Services Tax Act, 2017 deals with the provisions related to offences and penalties. Section 125 of CGST...
July 1, 2021, is a very special day as the Goods and Service Tax Act was passed in the Parliament on 29th March 2017 and it came into effect on 1st July 2017. Thus, this day is not just celebrated as GST Day but also CA Day for honouring our hardworking tax professionals who have...
Utilization Rules The following rules will be applied to the accumulated balance of input tax credit in the computerized credit ledger: 1. According to the CGST Act, 2017, section 49, sub-section 5: The balance in the credit ledger may only be used to pay output tax. It falls under the ...
July 1, 2021, is a very special day as the Goods and Service Tax Act was passed in the Parliament on 29th March 2017 and it came into effect on 1st July 2017. Thus, this day is not just celebrated as GST Day but also CA Day for honouring our hardworking tax professionals who have...
It is an indirect tax levied by the central government on intrastate supplies of goods and services, as outlined in the CGST Act of 2017. Under the GST framework, CGST applies to transactions within a single state. It ensures that the central government receives its share of tax revenue for...
The said limit of Rs.75 lakhs is defined in the GST Act itself with the provision that the same can be increased by the Government to an amount not exceeding Rs. 1 Crore based on the recommendation of the GST CouncilGST Council vide its 22nd meeting held at New Delhi on 6th October, ...
Under GST rules, tax is applied to the brokerage earned. However, the agent isn’t required to pay any GST on any amount recovered for delays if they meet pure agent status. If the client delays payment, the sub-broker can charge him some late fees as settlement obligation on it. Apart...
GST – Laws, Rules and other information published by the Government. THE CENTRAL GOODS AND SERVICES TAX ACT, 2017Received the assent of the President on the 12th April, 2017Download PDF THE INTEGRATED GOODS AND SERVICES TAX ACT, 2017Received the assent of the President on the 12th April, 20...
The GST law has prescribed the following number of returns. And these returns are prescribed with the due date of filing with its provisions laid in CGST Act 2017 Get 7-days free trial I am *Business OwnerAccountantStudentOthers I have read and accepted theT&C ...