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TMI BlogClarification On GSTX X X X Extracts X X X X X X X X Extracts X X X X ..... Clarification On GST X X X X Extracts X X X X X X X X Extracts X X X X ..... ry is that whether the same exemption is also available for the aforsaid entity or not Please clarify.. As soon as possible Reply By Rajagopalan Ranganathan: The Reply: Sir, It all depends on the provision of GST law to be enacted, rules to be framed under the law and Notifications to be issued under the law and the rules. Therefore it is too early to advise that the exemptions granted under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... exisisting law will continue under the GST Regime. We have to wait and see. Reply By KASTURI SETHI: The Reply: We shall be groping in darkness until or unless GST Bill is enacted. Reply By Ganeshan Kalyani: The Reply: Sir, in addition to the views of the experts, I would like to share that there is much talk going amongst assessees and law maker on whether to continue the exemption or not. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... law is just a draft. It has been passed by both the house and now it is in the process of ratification by respective States. Once this is done we may have some vision in respect of the provisions under GST. Thanks. Reply By Ganeshan Kalyani: The Reply: Sir, in my personal view, the benefit would continue to get to the assessee upto the period the exemption is given under VAT regime. Even earlie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r when Sales tax was changed to VAT the exemption made available were continued upto the period of eligibility. Thanks. Reply By YAGAY AND SUN: The Reply: Such State specific industrial promotion scheme shall be ended and refund mechanism after payment of GST will come into picture. Reply By Ganeshan Kalyani: The Reply: Sir, agreed but those companies which have already invested huge capital ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and the Govt. Has already given them exemption for a particular period. I guess these exemption shall continue until such period. However I agree that those are planning to invest in GST regime the exemption shall not be given. Thanks. Reply By KRT MOTORS: The Reply: as an end user and the valid gst tax payer, how can i confirm my supplier/service provider remitted cgst/sgst against the bill iss ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ued in my favour. how long it will take to confirm my transaction benefited the govt. pls.clarify X X X X Extracts X X X X X X X X Extracts X X X X
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