Clarification on certain issues (sale by government departments to unregistered person; leviability of penalty under section 73(11) of the Goa GST Act; rate of tax in case of debit notes / credit notes issued under section 142(2) of the Goa GST Act; applicability of notification No. 38/1/2017-Fin(R 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 Goa GST Act; rate of tax in case of debit notes / credit notes issued under section 142(2) of the Goa GST Act; applicability of notification No. 38/1/2017-Fin(R 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=61149 Supply of used, seized or scrap goods by government entities to unregistered persons is taxable under GST and the supplying department must register and pay tax; supplies to registered persons remain subject to reverse charge. Assessment linked penalty provisions apply only when assessment proceedings are invoked; late payment with interest after return filing does not normally attract that penalty, though general penalties may be imposed. Debit/credit notes issued for price revisions on or after the appointed day are treated as outward supplies under GST and GST rates apply; taxable value includes Tax Collected at Source; consignor or consignee is owner when documents accompany consignment, otherwise the proper officer determines ownership. en-us Tue, 15 Jan 2019 00:00:00 +0530 Tue, 28 May 2019 17:09:00 +0530 TaxTMI RSS Generator Clarification on certain issues (sale by government departments to unregistered person; leviability of penalty under section 73(11) of the Goa GST Act; rate of tax in case of debit notes / credit notes issued under section 142(2) of the Goa GST Act; applicability of notification No. 38/1/2017-Fin(R 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=61149 Supply of used, seized or scrap goods by government entities to unregistered persons is taxable under GST and the supplying department must register and pay tax; supplies to registered persons remain subject to reverse charge. Assessment linked penalty provisions apply only when assessment proceedings are invoked; late payment with interest after return filing does not normally attract that penalty, though general penalties may be imposed. Debit/credit notes issued for price revisions on or after the appointed day are treated as outward supplies under GST and GST rates apply; taxable value includes Tax Collected at Source; consignor or consignee is owner when documents accompany consignment, otherwise the proper officer determines ownership. Circulars GST - States Tue, 15 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/circulars?id=61149