by Shakshi Bharti | Sep 23, 2024 | GST, Acts, Union Territory Goods And Services Tax Act, 2017
Important Keyword: Section 9B, Section 9.
Notwithstanding anything contained in this Chapter and subject to the provisions of clause (c) of section 9, the Government may, on the recommendations of the Council, prescribe the order and manner of utilisation of the input tax credit on account of integrated tax, central tax, State tax or Union territory tax, as the case may be, towards payment of any such tax.]
1. Inserted vide s. 4 of the Union Territory Goods and Services Tax (Amendment) Act, 2018 w.e.f. 01.02.2019
Read More: Notification No. 04/2020 – Central Tax (Rate): Extension of CGST exemption on services by way of transportation of goods by air or by sea from customs station of clearance in India to a place outside India, by one year i.e. up to 30.09.2021.
Web Stories: Notification No. 04/2020 – Central Tax (Rate): Extension of CGST exemption on services by way of transportation of goods by air or by sea from customs station of clearance in India to a place outside India, by one year i.e. up to 30.09.2021.
Download Pdf: https://taxinformation.cbic.gov.in/
by Shakshi Bharti | Sep 23, 2024 | GST, Acts, Union Territory Goods And Services Tax Act, 2017
Important Keyword: GST, Section 9.
GST Section 9. Payment of tax.
The amount of input tax credit available in the electronic credit ledger of the registered person on account of,-
(a) integrated tax shall first be utilised towards payment of integrated tax and the amount remaining, if any, may be utilised towards the payment of central tax and State tax,or as the case may be, Union territory tax, in that order;
(b) the Union territory tax shall first be utilised towards payment of Union territory tax and the amount remaining, if any, may be utilised towards payment of integrated tax;
1[Provided that the input tax credit on account of Union territory tax shall be utilised towards payment of integrated tax only where the balance of the input tax credit on account of central tax is not available for payment of integrated tax;]
(c) the Union territory tax shall not be utilised towards payment of central tax.
1. Inserted vide s. 3 of the Union Territory Goods and Services Tax(Amendment) Act, 2018 w.e.f 1st February, 2019.
Read More: Notification No. 49/2020 – Central Tax: Seeks to bring into force Sections 118, 125, 129 & 130 of Finance Act, 2020 in order to bring amendment to Sections 2, 109, 168 & 172 of CGST Act w.e.f. 30.06.2020.
Web Stories: Notification No. 49/2020 – Central Tax: Seeks to bring into force Sections 118, 125, 129 & 130 of Finance Act, 2020 in order to bring amendment to Sections 2, 109, 168 & 172 of CGST Act w.e.f. 30.06.2020.
Download Pdf: https://taxinformation.cbic.gov.in/
by Shakshi Bharti | Sep 21, 2024 | GST, Acts, Integrated Goods And Services Tax Act, 2017
Important Keyword: GST, CGST, SGST, IGST, UTGST, Section 49, Section 9, Section 18.
On utilisation of credit of integrated tax availed under this Act for payment of,-
(a) central tax in accordance with the provisions of sub-section (5) of section 49 of the Central Goods and Services Tax Act, the amount collected as integrated tax shall stand reduced by an amount equal to the credit so utilised and the Central Government shall transfer an amount equal to the amount so reduced from the integrated tax account to the central tax account in such manner and within such timeas may be prescribed;
(b) Union territory tax in accordance with the provisions of section 9 of the Union Territory Goods and Services Tax Act, the amount collected as integrated tax shall stand reduced by an amount equal to the credit so utilised and the Central Government shall transfer an amount equal to the amount so reduced from the integrated tax account to the Union territory tax account in such manner and within such time as may be prescribed;
(c) State tax in accordance with the provisions of the respective State Goods and Services Tax Act, the amount collected as integrated tax shall stand reduced by an amount equal to the credit so utilised and shall be apportioned to the appropriate State Government and the Central Government shall transfer the amount so apportioned to the account of the appropriate State Government in such manner and within such time as may be prescribed.
Explanation .-For the purposes of this Chapter, ” appropriate State ” in relation to a taxable person, means the State or Union territory where he is registered or is liable to be registered under the provisions of the Central Goods and Services Tax Act.
Read More: Notification No. 11/2017 – Central Tax: Seeks to amend Notification no 6/2017-Central Tax dt 19.06.2017
Web Stories: Notification No. 11/2017 – Central Tax: Seeks to amend Notification no 6/2017-Central Tax dt 19.06.2017
Download Pdf: https://taxinformation.cbic.gov.in/
by Shakshi Bharti | Sep 20, 2024 | GST, Acts, Integrated Goods And Services Tax Act, 2017
Important Keyword: Section 9.
GST Section 9. Supplies in territorial waters. –
Notwithstanding anything contained in this Act,-
(a) where the location of the supplier is in the territorial waters, the location of such supplier; or
(b) where the place of supply is in the territorial waters, the place of supply, shall, for the purposes of this Act, be deemed to be in the coastal State or Union territory where the nearest point of the appropriate baseline is located.
Read More: Notification No. 31/2017 – Central Tax (Rate): Seeks to amend notification No. 11/2017-CT(R).
Web Stories: Notification No. 31/2017 – Central Tax (Rate): Seeks to amend notification No. 11/2017-CT(R).
Download Pdf: https://taxinformation.cbic.gov.in/
by Shakshi Bharti | Sep 18, 2024 | GST, Acts, Integrated Goods And Services Tax (Extension To Jammu And Kashmir) Act, 2017
Important Keyword: Section 8, Section 5, Section 7, Section 9.
GST Section 12. Power to make rules.
(1)The Central Government shall, on the recommendations of the Council, by notification in the Official Gazette, make rules for carrying out the provisions of this Act.
(2) In particular, and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:-
(a) the conditions which were included in the total base year revenue of the States, referred to in sub-clause (g) of clause (4) of article 279A of the Constitution, under sub-section (3) of section 5;
(b) the conditions subject to which any part of revenues not credited in the Consolidated Fund of the respective State shall be included in the total base year revenue of the State, under sub-section (6) of section5;
(c) the manner of refund of compensation by the States to the Central Government under sub-section (6) of section 7;
(d) the manner of levy and collection of cess and the period of its imposition under sub-section (1) of section 8;
(e) the manner and forms for payment of cess , furnishing of returns and refund of cess under sub-section (1) of section 9; and
(f) any other matter which is to be, or may be, prescribed, or in respect of which provision is to be made, by rules.
Read More: Notification No. 73/2019 – Central Tax: Seeks to extend the last date for filing of FORM GSTR-3B for the month of November 2019 by three days from 20.12.2019 till 23.12.2019.
Web Stories: Notification No. 73/2019 – Central Tax: Seeks to extend the last date for filing of FORM GSTR-3B for the month of November 2019 by three days from 20.12.2019 till 23.12.2019.
Download Pdf: https://taxinformation.cbic.gov.in/
