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IGST

Rules Applying to IGST for Advertisement Services

by Sanjeev Archak Sanjeev Archak No Comments

Rules applying to IGST for advertisement services were amended recently via notification dated 15 November 2017. The guidelines state the criteria for allocating the IGST to various States/Union Territories in case of the advertisement services are supplied either to the Central/ State Government, a local authority or even a statutory body as per Section 12(14) of the IGST Act, 2017.

These criteria are applicable in case of no contract between the recipient and the supplier regarding the amount to be to be mentioned on the invoice. Here is a brief below of the major pointers issued as amendments to help you grasp the gist quite quickly.

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CGST Rate Schedule Notified By The Government

by Sanjeev Archak Sanjeev Archak No Comments

On 28th June 2017, under sub-section (1) of section 9 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government notified the CGST rate schedule applicable to goods. This notification shall come into force with effect from the 1st day of July 2017.

As per the Goods and Services Tax Regime, both Central GST (CGST) and State GST (SGST) will be levied on all supplies that are intra-State in nature. For supplies that are inter-State, Integrated GST (IGST) will be levied on it. The revenue generated on the same will be shared by both the Central and State Government.

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