Any business entity that fails to pass on benefits of lower taxes under (GST) to consumers faces penalties under the new antiprofiteering rules.

The government today went live with GST Council’s website which contains all the fine details about the new tax regime.

Job work means undertaking any treatment or process by a person on goods belonging to another registered taxable person.

The Finance Act, 2017 inserted Section 92CE in the Income-tax Act, 1961 with effect from 1st April, 2018 to provide for secondary adjustment

CBEC specifies the persons exempted from obtaining registration under GST.

CBEC vide notification no. 1/2017 -Central Tax dated 19th June 2017 notifies certain sections to be effected w.e.f. 22nd day of June, 2017

Government is now proceeding towards a new change in direct tax which will enable a jurisdiction-free income tax assessment system.

Since still a substantial percent of taxpayers still remaining to be migrated under GST, the government has decided to reopen the GST migration.

Mandatory Aadhar card requirement is in addition to the requirement of PAN details or Form 60 already in place.

Both Composite supply and Mixed supply consist of two or more taxable supplies of goods or services or both.

The council revised rates on 66 items such as pickles, sauces, fruit preserves, insulin, cashew nuts, insulin, school bags, colouring books etc.

Schedule II of the Central Goods & Services Tax Act, 2017 lists activities which are to be treated as supply of goods and supply of services. In this issue, activities which form supply of goods are discussed. The next issue will cover the list of activities to be treated as supply of services, as enumerated in Schedule II.

Schedule II of the Central Goods & Services Tax Act, 2017 lists activities which are to be treated as supply of goods and supply of services. In this issue, activities which form supply of goods are discussed. The next issue will cover the list of activities to be treated as supply of services, as enumerated in Schedule II.

Section 22 of the Central Goods & Services Tax (CGST) Act, 2017 specifies persons who are liable for registration under GST whereas section 24 of CGST Act 2017 specifically provides list of persons who are compulsorily required to take registration. A list of such persons liable to obtain registration under CGST Act 2017

Goods and service tax network (GSTN], the technology backbone of GST. It provides IT infrastructure and services to the Central and State Governments, taxpayers and other stakeholders for implementation of the GST.