Clarifying the issues regarding implementation of provisions of sub-section (5) and sub-section (6) in section 16 of CGST Act,2017. Recent Notification 01/2025-Compensation Cess (Rate) 01/2024-Compensation Cess (Rate) 02/2023-Compensation Cess (Rate) ...
CGST Act Goods & Service Rate Levy & Collection (Sec. 1-11) Tax & Compensation cess rates Time & value of supply (Sec. 12-15) Reverse charge on goods Input Tax Credit (Sec. 16-21) Reverse charge on services Registration (Sec.
Business Central has included GST Compensation Cess feature to Indian Localization. “GST Compensation Cess”is levied by the Goods and Services Tax (Compensation to States) Act 2017. The object of levying this cess is to compensate the states for the loss of revenue arising due to the implemen...
Recently, on June 28 and June 29, 2022, the GST Council held the much talked about 47th GST council meeting and have made several big changes in terms of compensation cess, rate changes, and also decisions pertaining to ease the compliance for taxpayers. In June, taxpayers faced several issu...
The 47th GST Council Meeting took place on 28th and 29th June 2022 to address multiple important issues like GST rate changes for an array of goods and services, compensation cess, E-way Bill and E-invoicing changes and so on. Chaired by Union Finance and Corporate Affairs Minister Smt. Nir...
4. Search for GST sections and sub-sections inside CGST Act, IGST Act, UTGST Act and Compensation Cess Act. 5. Search for CGST Rules inside Central Goods & Services Tax Rules 6. Search inside GST Case Law , Notifications, Circulars, Orders and FAQs ...
Notification No. 1/2019 – Goods and Services Tax Compensation New Delhi, the 29th January, 2019 G.S.R. …… (E). - In exercise of the powers conferred by sub-section (2) of section 1 of the Goods and Services Tax (Compensation to States) Amendment Act, 2018 (34 ...
• Input Tax Credit availed on GST Compensation Cess can be utilized only towards discharging Output tax liability of Compensation Cess and not otherwise. d. Goods outside the gamut of GST: • Petroleum products and alcohol for human consumption are proposed to be kept out of GST purview....
Goods and Services Tax (GST) in India, explained with benefits and components to get a better understanding and why it matters to you and your business.
The Andhra Pradesh High Court has held that no exemption from payment of compensation cess under the Goods and Services Tax (GST) is available on import of goods by units in Special Economic Zones (SEZs). This decision was taken in the case of Maithan Alloys which was engaged in the ...