GST ACT

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Settlement-Commission

Settlement Commission

Q 1. What are the basic objective of Settlement Commission? Ans. The basic objectives of setting up of the Settlement Commission are:- i. to provide an...
Time-of-Supply

Time of Supply

Q 1. What is time of supply? Ans. The time of supply fixes the point when the liability to charge GST arises. It also indicates...
Transitional-Provisions

Transitional Provisions

Q 1. Will the CENVAT/ITC carried forward in the last return prior to GST under earlier law be available as ITC under GST? Ans. Yes,...
Valuation-in-GST

Valuation in GST

Q 1. What is the value of taxable supply to be adopted for the levy of GST? Ans. The value of taxable supply of goods...
Schedule-1

Schedule I : Matters to be treated as supply even if made without consideration

SCHEDULE I MATTERS TO BE TREATED AS SUPPLY EVEN IF MADE WITHOUT CONSIDERATION 1. Permanent transfer/disposal of business assets where input tax credit has been availed...
Schedule-2

Schedule II : Matters to be treated as supply of goods or services

SCHEDULE II MATTERS TO BE TREATED AS SUPPLY OF GOODS OR SERVICES 1. Transfer (a) Any transfer of the title in goods is a supply of goods. (b)...
Schedule-3

Schedule III : Activities or transactions which shall be treated neither as a supply...

SCHEDULE III ACTIVITIES OR TRANSACTIONS WHICH SHALL BE TREATED NEITHER AS A SUPPLY OF GOODS NOR A SUPPLY OF SERVICES 1. Services by an employee to...
Schedule-4

Schedule IV : Activities or transactions undertaken by the central government, a state government...

SCHEDULE IV ACTIVITIES OR TRANSACTIONS UNDERTAKEN BY THE CENTRAL GOVERNMENT, A STATE GOVERNMENT OR ANY LOCAL AUTHORITY WHICH SHALL BE TREATED NEITHER AS A SUPPLY OF...
Schedule-5

Schedule V : Persons liable to be registered

SCHEDULE V PERSONS LIABLE TO BE REGISTERED 1. Every supplier shall be liable to be registered under this Act in the State from where he makes...
Preliminary

Section 1 : Short title, extent and commencement – Preliminary

1. Short title, extent and commencement (1) This Act may be called the Central / State Goods and Services Tax Act, 2016. (2) It extends to...

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