central goods and services tax act 2017 pdf

Central goods and services tax act 2017 pdf

File Name: central goods and services tax act 2017 .zip
Size: 25637Kb
Published: 28.03.2021

Origin and Commencement of CGST Act

Block will be used to display browser versions to be supported by portal.

You are here

Search form

Disclaimer: Updating and uploading of all Central Acts available on this web page is the proprietary of the Legislative Department in the Ministry of Law and Justice.

Origin and Commencement of CGST Act

The following Act of Parliament received the assent of the President on the 12th April, , and is hereby published for general information:—. An Act to make a provision for levy and collection of tax on inter-State supply of goods or services or both by the Central Government and for matters connected therewith or incidental thereto. Provided that different dates may be appointed for different provisions of this Act and any reference in any such provision to the commencement of this Act shall be construed as a reference to the coming into force of that provision. The Board may appoint such central tax officers as it thinks fit for exercising the powers under this Act. Authorisation of officers of State tax or Union territory tax as proper officer in certain circumstances. Without prejudice to the provisions of this Act, the officers appointed under the State Goods and Services Tax Act or the Union Territory Goods and Services Tax Act are authorised to be the proper officers for the purposes of this Act, subject to such exceptions and conditions as the Government shall, on the recommendations of the Council, by notification, specify. Provided that the integrated tax on goods imported into India shall be levied and collected in accordance with the provisions of section 3 of the Customs Tariff Act, on the value as determined under the said Act at the point when duties of customs are levied on the said goods under section 12 of the Customs Act,

By Sathish AR. It is an indirect tax levied and collected by the central government on intra-state supplies. Such supplies do not include alcoholic liquor for human consumption. Transaction value is nothing but the price actually paid or payable for the given supply of goods or services. It is one of the four indirect taxes levied under GST.

It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes. Multi-staged as it is, the GST is imposed at every step in the production process, but is meant to be refunded to all parties in the various stages of production other than the final consumer and as a destination-based tax, it is collected from point of consumption and not point of origin like previous taxes. However, petroleum products , alcoholic drinks , and electricity are not taxed under GST and instead are taxed separately by the individual state governments , as per the previous tax system. The tax came into effect from 1 July through the implementation of the One Hundred and First Amendment of the Constitution of India by the Indian government. The GST replaced existing multiple taxes levied by the central and state governments.

Block will be used to display browser versions to be supported by portal.

MCA also protects investors and offers many important services to stakeholders. This site is your gateway to all services, guidance, and other corporate affairs related information. Javascript is disabled in your browser, hence some functionalities on this website will not work. Please enable the javascript. Grey Theme. Blue Theme. Green Theme.

Short title, extent and commencement. Officers under this Act. Appointment of officers. Powers of officers. Authorisation of officers of State tax or Union territory tax as proper officer in certain circumstances.


[12th April, ] An Act to make a provision for levy and collection of tax on intra​-State supply of goods or services or both by.


You are here

Site Map - Recent Site Map. F : 80IBA Deductions in respect of profits and gains from housing projects. F : Service tax on mutual fund sub broker.

Search form

The Acts were approved by the Parliament after they were introduced as the part of the Money Bill. GST is considered to be the biggest tax reform in India since independence. In the GST regime, exports will be zero-rated in entirety. This is unlike the present system where refund of some of the taxes does not take place due to fragmented nature of indirect taxes between the Centre and the States. Under GST, a normal taxpayer would have to furnish three returns monthly and one annual return. There are also separate returns for a taxpayer registered under the composition scheme, a taxpayer registered as an Input Service Distributor a person liable to deduct or collect the tax. Under GST regime, all transactions and processes required to be done only through electronic mode.

The CGST act has been enacted to make a provision for levy and collection of tax on intra-state supply of goods or services or both by the Central Government and the matters connected therewith or incidental thereto. Under erstwhile taxation laws, Central Government levied taxes on, manufacture of certain goods in the form of Central Excise duty, provision of certain services in the form of service tax, inter-State sale of goods in the form of Central Sales tax. Similarly, the State Governments levied taxes on retail sales in the form of value added tax, entry of goods in the State in the form of entry tax, luxury tax and purchase tax, etc. Accordingly, there is multiplicity of taxes which are being levied on the same supply chain. In view of the aforesaid difficulties, all the above mentioned taxes are subsumed in a single tax called the goods and services tax which will be levied on supplies which includes goods and services at each stage of supply chain starting from manufacture or import and till the last retail level.

Site Map - Recent Site Map. Plan of action by the Government to stabilise GDP. F : ITC Reversal.

The Central Goods and Services Tax Act, 2017

What is CGST?

The following Act of Parliament received the assent of the President on the 12th April, , and is hereby published for general information:—. An Act to make a provision for levy and collection of tax on inter-State supply of goods or services or both by the Central Government and for matters connected therewith or incidental thereto. Provided that different dates may be appointed for different provisions of this Act and any reference in any such provision to the commencement of this Act shall be construed as a reference to the coming into force of that provision. The Board may appoint such central tax officers as it thinks fit for exercising the powers under this Act. Authorisation of officers of State tax or Union territory tax as proper officer in certain circumstances.

1 comments

  • Filippo L. 01.04.2021 at 14:26

    Upper and lower bounds gcse questions pdf learn python the hard way 2nd edition pdf download free

    Reply

Leave a reply