WEST BENGAL AUTHORITY FOR ADVANCE RULING in case of “Udayan Cinema Pvt Ltd” held that The producer of a feature film is liable to pay IGST on reverse charge basis on payment made to a line producer engaged in Brazil.
The GST Regime mandates every person/business with an annual turnover of Rs. 40 lakhs* (Rs 10 lakhs for North Eastern states) or more, to register as a normal taxable person.
Government has issued notification w.r.t. changes in GST rates for real estate sector with an option to charge new tax Rate from 1st April 2019 for ongoing projects.
Rule 46 (b) of the CGST Rules 2017 suggests that any tax invoice should have a 16 character alpha-numeric invoice number unique for a financial year. This draws attention, now that we are entering a new Financial Year – 2019-2020.
GST Council has been working diligently towards a fairer taxation system and reduce tax evasion. One such crucial measure taken by the council is Reverse Charge Mechanism.