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Compilation of all notifications issued ON 15.11.2017

Goods and Services Tax - GST - By: - Pradeep Jain - Dated:- 17-11-2017 Last Replied Date:- 21-11-2017 - Recently 23rd GST council meeting has been held in which various decisions were declared. All the notifications were issued recently in this respect. Lets summarise this with the help of this update- Notification 66/2017 CT dated 15.11.2017 has been notified stating that all registered person other than person registered under composition scheme is not required to pay tax on advance received o .....

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pply of services. Hence, there is no need to pay the GST on advance received for supply of goods. But service providers will continue to pay GST on advance received. Lastly, there is no limit for non-payment of GST on advance received. Earlier it was contended that the exemption is available to assessee of turnover of ₹ 1.5 crore. But this notification has clarified that it is applicable to all except those who has opted for composition scheme. Notification 65/2017 CT dated 15.11.2017 exem .....

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e is nil;says that there will be less liability the late fees will be paid as ₹ 10/- per day under CGST Act. The interpretation of this says that this less late fee will be payable if the liability of CGST is nil. If there is liability of IGST Act but no liability in CGST then also the less amount will be payable. Although it seems to be very absurd interpretation but notification reads like that only. In case there is tax to be paid then late fees is increased to ₹ 25/- per day. Thi .....

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017 3 61/2017-Central Tax ,dt. 15-11-2017 GSTR-5A for the month of July, 2017, August, 2017, September, 2017 and October, 2017 by a person supplying online information and database access or retrieval services from a place outside India to a non-taxable online recipient 20.11.2017 15.12.2017 4 60/2017-Central Tax ,dt. 15-11-2017 GSTR-5 to be filed by non resident taxable person for the month of July, 2017, August, 2017, September, 2017 and October, 2017 11.12.2017 5 59/2017-Central Tax ,dt. 15-1 .....

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