Category: CGST ACT

CHAPTER V INPUT TAX CREDIT     * Section 16. Eligibility and conditions for taking input tax credit.- (1) Every registered person shall, subject to such conditions and restrictions as may be prescribed and in the manner specified in section 49 , be entitled to take credit of input tax charged on any supply of goods or services or […]

Section 15. Value of Taxable Supply.- (1) The value of a supply of goods or services or both shall be the transaction value, which is the price actually paid or payable for the said supply of goods or services or both where the supplier and the recipient of the supply are not related and the price […]

Section 14. Change in rate of tax in respect of supply of goods or services.- Notwithstanding anything contained in section 12 or section 13 , the time of supply, where there is a change in the rate of tax in respect of goods or services or both, shall be determined in the following manner, namely:- (a) in case the goods or […]

  (1) The liability to pay tax on services shall arise at the time of supply, as determined in accordance with the provisions of this section. (2) The time of supply of services shall be the earliest of the following dates, namely:- (a) the date of issue of invoice by the supplier, if the invoice is […]

CHAPTER IV TIME AND VALUE OF SUPPLY   * Section 12. Time of Supply of Goods .- (1) The liability to pay tax on goods shall arise at the time of supply, as determined in accordance with the provisions of this section. (2) The time of supply of goods shall be the earlier of the following dates, namely:- […]

(1) Where the Government is satisfied that it is necessary in the public interest so to do, it may, on the recommendations of the Council, by notification, exempt generally, either absolutely or subject to such conditions as may be specified therein, goods or services or both of any specified description from the whole or any […]

(1) Notwithstanding anything to the contrary contained in this Act but subject to the provisions of sub-sections (3) and (4) of section 9 , a registered person, whose aggregate turnover in the preceding financial year did not exceed fifty lakh rupees, may opt to pay, 1 [in lieu of the tax payable by him under sub-section (1) of section 9 , […]

(1) Subject to the provisions of sub-section (2), there shall be levied a tax called the central goods and services tax on all intra-State supplies of goods or services or both, except on the supply of alcoholic liquor for human consumption, on the value determined under section 15 and at such rates, not exceeding twenty per cent., […]

Section 8. Tax liability on composite and mixed supplies.- The tax liability on a composite or a mixed supply shall be determined in the following manner, namely:- (a) a composite supply comprising two or more supplies, one of which is a principal supply, shall be treated as a supply of such principal supply; and (b) a mixed supply […]

CHAPTER III LEVY AND COLLECTION OF TAX   * Section 7. Scope of supply.- (1) For the purposes of this Act, the expression – “supply” includes- (a) all forms of supply of goods or services or both such as sale, transfer, barter, exchange, licence, rental, lease or disposal made or agreed to be made for a consideration by a person […]