Tax Consultant

  Advisory on opting for payment of tax under the forward charge  mechanism by a Goods Transport Agency (GTA) 25/02/2023 In compliance of Notification No. 03/2022-Central Tax (Rate), dated 13th July, 2022,  an option is being provided on the portal to all the existing taxpayers providing  Goods Transport Agencies Services, desirous of opting to pay tax under the  forward charge mechanism to exercise their option. They can navigate Services >  User Services > Opting Forward Charge Payment by GTA (Annexure V), after login,  to submit their option on the portal. Option in Annexure V FORM is required to be submitted on the portal by the Goods Transport Agencies every year before the commencement of the Financial  Year. The Option once filed cannot be withdrawn during the year and the cut-off date  for filing the Annexure V FORM is 15th March of the preceding financial year. Annexure V has been made available on the portal for GTA’s to e...

  Determination of Nature of Supply Nature of supply means supply either goods or services is interstate or intrastate. The nature of state is determined as per Section 7 To 9 of IGST Act, 2017. CGST & SGST will be levied if the supply is intrastate and IGST will be levied on interstate supply. Interstate Supply :-     Interstate supply is determined as per Section 7 of the IGST Act, 2017. Supply of the Goods or services will be treated as interstate supply in the following cases :- 1.       Subject to the section of 10, where location of the supplier and place of supply are in a.       Two different state b.      Two different Union Territories c.       A state and an Union Territories   2.       Goods imported into the territory of India, till they cross the Customs frontiers of India.   3.    ...

  AS ON 31.08.2021 THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 (12 OF 2017) AS AMENDED BY THE:- ·         THE CENTRAL GOODS AND SERVICES TAX (EXTENSION TO JAMMU AND KASHMIR) ACT, 2017 (NO. 26 OF 2017); ·         THE FINANCE ACT, 2018 (NO. 13 OF 2018); ·         THE CENTRAL GOODS AND SERVICES TAX (AMENDMENT) ACT, 2018 (NO. 31 OF 2018); ·         THE FINANCE (NO. 2) ACT, 2019 (NO. 23 OF 2019); ·         THE FINANCE ACT, 2020 (NO. 12 OF 2020); ·         THE TAXATION AND OTHER LAWS (RELAXATION AND AMENDMENT OF CERTAIN PROVISIONS) ACT, 2020; ·         THE FINANCE ACT, 2021 (NO. 13 OF 2021). Note: This updated version of the Central Goods and Services Tax Act, 2017 as amend...