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Negative List for ITC Availment
Negative List for ITC Availment
Author : Sushanth Reddy, Associate
Date : August 14, 2017
GST Rates of Services: Sector Wise
On Day 2 (May 19, 2017), GST Council has notified rates of certain services and the whole list is awaited. Education, Health and Hotels (less than Rs 1000)  has been exempted, whereas transportation (Railway or Airway except Business Class Tickets) and Restaurants below 50 lac turnover have been kept in 5% slab.
Author : BSALAW Taxation Team
Date : May 19, 2017
On Day 1 (May 18th, 2017), GST Council cleared all 9 rules and notified GST rates for 'Goods' and Compensation Cess on specified Goods. 19% of the goods have been placed under 28% tax slab, 43% items under 18% slab, 14% items under 5% slab, while 17% items shall fall under 12% tax slab. It can be seen that the Govt. has tried to lower the tax on the consumer goods thereby reducing the tax burden on the ultimate customers. 

Author : BSA Taxation Team
Date : May 19, 2017
Is Unregistered Dealer Entitled To Carry Forward Credit Under GST Regime?
Section 140 of GST Act, 2017 lays down the provision, as to how the amount of CENVAT Credit in respect of duty paid on inputs or service tax paid on input service is to be carried forward at the time of switching over from existing system to the GST regime. 
Author : Ashok Bhasin, Partner
Date : April 25, 2017
GST Bills introduced in Lok Sabha : Key 20 Highlights
Central Goods and Services Tax Act, 2017 (CGST Act) extends to the whole of India except the State of Jammu and Kashmir. The Compensation shall be extended to all States, including J&K. “Securities” excluded from the definition of ‘services’ as well as ‘goods’.
Author : Sushanth Reddy, Associate
Date : March 28, 2017
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