Category: Indirect Tax

Section 53 – Transfer of input tax credit of CGST ACT, 2017 53. On utilisation of input tax credit availed under this Act for payment of tax dues under the Integrated Goods and Services Tax Act in accordance with the provisions of sub-section (5) of section 49, as reflected in the valid return furnished under … Continue reading “Section 53 – Transfer of input tax credit of CGST ACT, 2017”

Section 52 – Collection of tax at source of CGST ACT, 2017 52. (1) Notwithstanding anything to the contrary contained in this Act, every electronic commerce operator (hereafter in this section referred to as the “operator”), not being an agent, shall collect an amount calculated at such rate not exceeding one per cent., as may … Continue reading “Section 52 – Collection of tax at source of CGST ACT, 2017”

Section 51 – Tax deduction at source of CGST ACT, 2017 51. (1) Notwithstanding anything to the contrary contained in this Act, the Government may mandate,–– (a) a department or establishment of the Central Government or State Government; or (b) local authority; or (c) Governmental agencies; or (d) such persons or category of persons as … Continue reading “Section 51 – Tax deduction at source of CGST ACT, 2017”

Section 50 – Interest on delayed payment of tax of CGST ACT, 2017 50. (1) Every person who is liable to pay tax in accordance with the provisions of this Act or the rules made thereunder, but fails to pay the tax or any part thereof to the Government within the period prescribed, shall for … Continue reading “Section 50 – Interest on delayed payment of tax of CGST ACT, 2017”

Section 49 – Payment of tax, interest, penalty and other amounts of CGST ACT, 2017 49. (1) Every deposit made towards tax, interest, penalty, fee or any other amount by a person by internet banking or by using credit or debit cards or National Electronic Fund Transfer or Real Time Gross Settlement or by such … Continue reading “Section 49 – Payment of tax, interest, penalty and other amounts of CGST ACT, 2017”

Section 48 – Goods and services tax practitioners of CGST ACT, 2017 48. (1) The manner of approval of goods and services tax practitioners, their eligibility conditions, duties and obligations, manner of removal and other conditions relevant for their functioning shall be such as may be prescribed. (2) A registered person may authorise an approved … Continue reading “Section 48 – Goods and services tax practitioners of CGST ACT, 2017”

Section 47 – Levy of late fee of CGST ACT, 2017 47. (1) Any registered person who fails to furnish the details of outward or inward supplies required under section 37 or section 38 or returns required under section 39 or section 45 by the due date shall pay a late fee of one hundred … Continue reading “Section 47 – Levy of late fee of CGST ACT, 2017”

Section 46 – Notice to return defaulters of CGST ACT, 2017 46. Where a registered person fails to furnish a return under section 39 or section 44 or section 45, a notice shall be issued requiring him to furnish such return within fifteen days in such form and manner as may be prescribed.

Section 45 – Final return of CGST ACT, 2017 45. Every registered person who is required to furnish a return under sub-section (1) of section 39 and whose registration has been cancelled shall furnish a final return within three months of the date of cancellation or date of order of cancellation, whichever is later, in … Continue reading “Section 45 – Final return of CGST ACT, 2017”

Section 44 – Annual return of CGST ACT, 2017 44. (1) Every registered person, other than an Input Service Distributor, a person paying tax under section 51 or section 52, a casual taxable person and a non-resident taxable person, shall furnish an annual return for every financial year electronically in such form and manner as … Continue reading “Section 44 – Annual return of CGST ACT, 2017”