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GST COMES TRUE

Goods and Services Tax - GST - By: - Mr. M. GOVINDARAJAN - Dated:- 3-7-2017 Last Replied Date:- 5-7-2017 - Expected implementation of when the Hon ble President implemented by ringing a bell in the Central Hall of Parliament at 00.00 hrs on 01.07.2017. It comes true after a prolonged journey of 11 years when it was considered to be implemented in India. GST as all aware consumes most of the indirect taxes levied by the Central Government and the State Governments. The Constitutional amendment pa .....

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rless and online. It is hoped that the GSTN will maintain and manage the entire network without any problems caused to the taxpayers and the administration. The Central Government enacted four acts and got the nod of the President- Central Goods and Services Tax Act, 2017 - for the levy of central tax and to be administered by the Central Government; Integrated Goods and Services Tax, Act, 2017 - for the levy of integrated tax and to be administered by the Central Government; Union Territory Goo .....

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ses. All the provisions of the State Tax come into force with effect from 01.07.2017. Nearly the provisions of 17 sections of CGST Act came into effect from 22.06.2017. Except the following sections all other sections came into effect from 01.07.2017- Proviso to Section 42(9); Proviso section 43(9); Section 51 - Tax deduction at source; Section 52 - Collection of tax at source; The Rules recommended and approved by the GST Council in respect of Central tax has been incorporated by the Central Go .....

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pter XV Anti - Profiteering Chapter XVI E-way Rules The provisions of E-way Rules, even though, recommended and approved by GST Council, the Government has not formulated. Rule 138 provides that till such time as an E-way bill system is developed and approved by the Council, the Government may, by notification, specify the documents that the person in charge of a conveyance carrying any consignment of goods shall carry while the goods are in movement or in transit storage. Nearly 18 notification .....

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017-Integrated tax, dated 28.06.2017, the Central Government notified the Integrated Goods and Services Tax Rules, 2017 which came into effect from 22.06.2017. Rule 2 provides that the CGST Rules, 2017 for carrying out the provisions of section 20 of IGST Act shall, so far as may be, apply in relation to integrated tax as they apply in relation to central tax. The Central Government also notifies the rate of interest payable by the taxable person for the delayed payment of tax and also the inter .....

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