The ministry further said that Rs 11,327 crore is being transferred from IGST to CGST
account, and Rs 13,479 crore to SGST account by way of settlement of funds on account of cross utilisation of IGST credit for payment of CGST
and SGST respectively or due to inter-State B2C transactions.
The Central Government shall establish a common IT infrastructure which will serve the needs of both CGST
Mumbai (Maharashtra) [India], March 01 ( ANI ): CGST
Mumbai Central Commissionerate arrested the directors of two companies for allegedly availing of tax credit in a fraudulent manner.
Thus, the total collection of CGST
and SGST for the month of December, 2017 (up to December 25) is Rs 23,437 crore and Rs 33,138 crore, respectively.
On the issue of exemption threshold under GST, he urged for a consensus on a uniform threshold of ` 10 lakh for both goods and services under both CGST
The Ministry also added that contravention of the rule may attract punitive action under the CGST
14,488 crores is being transferred from IGST to SGST account by way of settlement of funds due to cross utilization of IGST credit for payment of CGST
and SGST respectively.
The major reason for the gap in income of CGST
and SGST is increased CGST
liability that has been discharged using transition credit rather than by way of cash.
As per the existing definition under the section 25 (4) of CGST
Act, 2017 any sort of activity like rendering of advice and consultation and hiring of personnel between head office of such establishments having all India presence and their branch offices located at various places across the country will attract levying of GST, Gandhi a noted tax consultant said.
It also said, "Those seeking voluntary registration would anyway avail of the facility under Section 25 (3) of the CGST
Act (and the corresponding provision of the other two statutes).
Therefore, unless the brand name or trade name is actually on the Register of Trade Marks and is in force under the Trade Marks Act, 1999, CGST
rate of five percent will not be applicable on the supply of such goods.
Summary: New Delhi [India], June 26 (ANI): With the rollout date of the Goods and Services Tax (GST) inching closer, the Finance Ministry on Monday announced a delay in implementation of the provisions of Section 51 and 52 under the CGST
/ SGST Act, 2017, aiming to ensure smooth rollout of the GST.