Examples of Goods and Services Tax (Compensation to States) Act in a sentence
Cess – means any applicable cess, existing or future on the supply of Goods and Services as per Goods and Services Tax (Compensation to States) Act, 2017.
Cess - means any applicable cess, existing or future on the supply of Goods and Services as per Goods and Services Tax (Compensation to States) Act, 2017.
Explanation.- For the purposes of this section, the term “tax” shall include the amount of tax evaded or the amount of input tax credit wrongly availed or utilised or refund wrongly taken under the provisions of this Act, the Central Goods and Services Tax Act, the Integrated Goods and Services Tax Act, and cess levied under the Goods and Services Tax (Compensation to States) Act.
In this regard, the CGST Act, 2017, the IGST Act, 2017, the UTGST Act, 2017 and Goods and Services Tax (Compensation to States) Act, 2017 have received the assent of the President of India on April 12, 2017 and were notified and implemented on July 1, 2017.
This Act may be called the Goods and Services Tax (Compensation to States) Act, 2017.
The Goods and Services Tax (Compensation to States) Act, 2017 provides for compensation to the States for the loss of revenue arising on account of implementation of the goods and services tax.
However, sub-section (24) of Section 2 of the IGST Act states that the words and expression not defined in the IGST Act but defined in the Central Goods and Services Act, 2017 (CGST Act), the Union Territory Goods and Services Tax Act, 2017 and the Goods and Services Tax (Compensation to States) Act, 2017 shall have the same meaning as assigned to them in the said Acts.
The process is based on the complete oxidation of the flakes/dust at high temperature under an atmosphere which contains oxygen.
In view of this, the undersigned proposes to confiscate the above goods and the conveyance used to transport such goods under the provisions of section 130 of the Central Goods and Services Tax Act, 2017 read with the relevant provisions of the State Goods and Services Tax/Union Territory Goods and Services Tax Act, the Integrated Goods and Services Tax Act and the Goods and Services Tax (Compensation to States) Act, 2017.
Cess means cess levied under Goods and Services Tax (Compensation to States) Act, 2017.