Clarification on certain issues (sale by government departments to unregistered person; leviability of penalty under section 73(11) of the CGST Act; rate of tax in case of debit notes / credit notes issued under section 142(2) of the CGST Act; applicability of notification No. 50/2018-Central Tax; valuation methodology in case of TCS under Income Tax Act and definition of owner of goods) related to GST.

Clarification on certain issues (sale by government departments to unregistered person; leviability of penalty under section 73(11) of the CGST Act; rate of tax in case of debit notes / credit notes issued under section 142(2) of the CGST Act; applicability of notification No. 50/2018-Central Tax; valuation methodology in case of TCS under Income Tax Act and definition of owner of goods) related to GST. https://www.taxtmi.com/circulars?id=61077 The CBIC circular clarifies six GST matters: sales by government to unregistered persons; penalty leviability under section 73(11) CGST; tax rate for debit/credit notes under section 142(2) CGST; applicability of a central notification; TCS-related valuation under the Income Tax Act; and the definition of owner of goods. The Tripura State Tax administration, invoking section 168 of the Tripura SGST Act, directs all state tax officers to follow these clarifications to ensure uniform implementation within the state. en-us Mon, 31 Dec 2018 00:00:00 +0530 Wed, 22 May 2019 17:54:00 +0530 TaxTMI RSS Generator Clarification on certain issues (sale by government departments to unregistered person; leviability of penalty under section 73(11) of the CGST Act; rate of tax in case of debit notes / credit notes issued under section 142(2) of the CGST Act; applicability of notification No. 50/2018-Central Tax; valuation methodology in case of TCS under Income Tax Act and definition of owner of goods) related to GST. https://www.taxtmi.com/circulars?id=61077 The CBIC circular clarifies six GST matters: sales by government to unregistered persons; penalty leviability under section 73(11) CGST; tax rate for debit/credit notes under section 142(2) CGST; applicability of a central notification; TCS-related valuation under the Income Tax Act; and the definition of owner of goods. The Tripura State Tax administration, invoking section 168 of the Tripura SGST Act, directs all state tax officers to follow these clarifications to ensure uniform implementation within the state. Circulars GST - States Mon, 31 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/circulars?id=61077