GST-Goods and Service Tax - 397. page

Goods and Services Tax Act – GST Law

Resolution of disputes among Union and States:- The Goods and Services Tax Council shall establish a mechanism to adjudicate any dispute arising out of the recommendations of the Council or […]

GST Compensation Cess on goods and services Section 8 of Goods and Services Tax (Compensation to the States) Act, 2017 [GST Cess Act for short]  makes provision for levy of […]

Abolition of other duties and taxes : Present central excise duty (except of petroleum products), service tax, duties of excise on medical and toilet  preparations will be subsumed in CGST […]

Definition of ‘deemed sale ‘ to continue : Interestingly, Article 366(29A) which defines ‘deemed sale of goods’ is being retained (may be to avoid  disputes and litigation). This definition covers […]

Taxation powers of District Council : District Councils for administration of Tribal Areas in States of Assam, Meghalaya, Tripura and Mizoram will  have powers to imposed entertainment tax [paragraph 8(3)(d) […]

GST rates in other Countries  : In Europe, the EU VAT system is regulated by various European Union (EU) Directives. The most important  is Sixth VAT directive. GST was introduced […]

Transitional provisions : Sections 139 to 142 of CGST Act provide for transitional provisions for shifting from existing tax system to  GST. Existing registered persons will be given provisional registration […]

Transitory provisions relating to stock with traders on ‘appointed day’ (hopefully 1-7-2017) : The dealers (traders) are not liable to pay excise duty at present. If they are not eligible […]

Expected rates of GST : The IGST and CGST Acts do not indicate GST rate structure. As per section 9 of CGST Act, rate of CGST will be as notified […]

Sales tax on petroleum products and alcoholic liquor within State: States will have powers to impose sales tax on sale within the State on petroleum products and alcoholic liquor for […]