Category: GST

TCS Mechanism under GST – Guide by CBEC

TCS Mechanism under GST. TCS is tax collected by e-commerce operator when a supplier supplies some goods or services through its portal  TCS MECHANISM UNDER GST Tax Collection at Source (TCS) has similarities with TDS, as well as a few distinctive features. TDS refers to the tax which …

Job-work Under GST – A Guide by CBEC

Job-work Under GST – A Guide by CBEC.. Job work is any treatment or process undertaken by a person on goods belonging to another registered person Job-work Under GST Introduction Job-work sector constitutes a significant industry in Indian economy. It includes outsourced activities that may or may not culminate …

TDS Mechanism under GST-A Guide by CBEC

TDS Mechanism under GST-Guide by CBEC. Individual supplies may be less than Rs. 2,50,000/-, but if contract value is more TDS @ 1% will have to be deducted TDS MECHANISM UNDER GST Tax Deduction at Source (TDS) is a system, initially introduced by the Income Tax Department. It …

Exemption to suppliers of handicraft goods from GST registration

Exemption to suppliers of handicraft goods from GST registration – Persons making inter-State taxable supplies of handicraft goods exempted from GST registration if aggregate value of supplies do not exceed 20 lakh/10 lakhs  MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF EXCISE AND CUSTOMS) Notification No. 8/2017–Integrated …

Job workers exempted from obtaining registration under GST

Job workers exempted from obtaining registration under GST where engaged in making inter-State supply of services to a registered person  MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF EXCISE AND CUSTOMS) Notification No. 7/2017–Integrated Tax New Delhi, the 14th September, 2017 G.S.R. 1155(E).—In exercise of the powers conferred …

ITC credit claim of more than Rs One crore to be verified

ITC credit claim of more than Rs One crore to be verified by matching credit claimed with closing balance in returns filed under earlier laws MAHENDER SINGH Special Secretary & Member GOVERNMENT OF INDIA MINISTRY OF FINANCE / DEPARTMENT OF REVENUE CENTRAL BOARD OF EXCISE & CUSTOMS NORTH …
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