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Role of AS-7 for GST angle, Goods and Services Tax - GST

Issue Id: - 117510
Dated: 23-9-2021
By:- Rajesh Kumar
Role of AS-7 for GST angle

  • Contents

Sir/madam

What is the role of AS-7 for the purpose of GST duty angle? Which information is concern to GST purpose and what is the method of calculation for GST angle?

Is it helpful for the quantification of GST?

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Posts / Replies

Showing Replies 1 to 2 of 2 Records

1 Dated: 24-9-2021
By:- Shilpi Jain

For the purpose of calculating GST the valuation provisions would be relevant and when GST has to be paid , the time of supply provisions will be relevant. accounting standards will not be of relevance.


2 Dated: 24-9-2021
By:- KASTURI SETHI

Dear Querist,

There are two case laws (pertaining to pre-GST era) which talk of how AS-7 can be useful in various ways regarding correct and proper payment of GST. These are worth reading.

1. SGS Construction & Developers (P) Ltd. Vs.Commissioner ST, Delhi - 2019 (1) TMI 1820 - CESTAT NEW DELHI

2. FIRM FOUNDATIONS & HOUSING PVT. LTD. Versus PR. COMMR. OF S.T., CHENNAI - 2018 (4) TMI 613 - MADRAS HIGH COURT


1

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