There was amendment in sec 75(12) of the Central Goods and Services Tax Act, 2017 ("the CGST Act"), which were introduced vide the Finance Act, 2021 but brought into effect only from January 1, 2022 through Notification no. 39/2021-central tax dated December 21, 2021.
Taxability of Renting of Motor vehicle designed to carry passenger ['MVDCP'] under Reverse/Forward Charge Mechanism [RCM/FCM]
Fake Invoice refers to a 'Non-compliant GST Invoice'
As per Section 2(76) of CGST Act, 2017 Motor vehicle shall have the same meaning as assigned to it in clause (28) of section 2 of the Motor Vehicles Act, 1988.
As you are aware taxable event in GST is supply of goods or services or both. Various taxable events like manufacture, sale, rendering of service, purchase, entry into a territory of State etc. have been done away with in favour of just one taxable event i.e. supply.
As per Section 7(5)(b) of the IGST Act, 2017 says that Supply of goods or services or both made to or by a Special Economic Zone developer or a Special Economic Zone unit shall be treated to be a supply of goods or services or both in the course of inter-State trade or commerce.
Taxpayer/Consultant should also ensure that company also maintained ''Fixed Assets Register' and also ensure that proper internal control was there for acquisition and disposal of fixed assets and ensure for GST impact on the same.
This article compiles a list of compliance dates related to GST, Income Tax, ESI, and PF Acts, including GSTR-1, GSTR-3B, ITC-04, GSTR-5 & 5A, GSTR-6, GSTR-7, GSTR-8, RFD-10,
Important clarifications/ amendments issued by the Government on GST in September/ October 2022 along with compliance timelines in October 2022
GST is applicable on residential accommodation sublet by a tenant. This AAR order dated March 23 is likely to trigger a number of litigations. The exemption prescribed cannot be sought and the lessors have to charge GST while issuing invoice for the lease services.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
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