GST Registration turnover limit for goods and services in various States
Posted Date : 06-Mar-2023 , 01:04:27 pm | Posted By
S.Mahajan
GST turnover limit for goods and services in various states GST Turnover limit for registration for supply of goods and services varies from state to state. Every person whose turnover exceed the threshold/exemption limit must take the GST Registration on time. One must know how to calculate aggreg...
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Category : GST |
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Revised Invoice under GST - How to Revise Invoice in GST?
Posted Date : 28-Feb-2023 , 08:23:21 am | Posted By
S.Mahajan
Revised Invoice under GST | Is there any concept of Revised Invoice under GST? | How to Revise Invoice in GST? Format of a revised invoice The GST law mandates that the details mentioned below are included in a revised invoice: Nature of the invoice, i.e. “Revised Invoice” or “S...
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Category : GST |
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GST Amnesty Scheme for Non Filers of GST Returns
Posted Date : 23-Feb-2023 , 10:35:05 pm | Posted By
S.Mahajan
Extension of Time Limit and GST Amnesty Scheme for Non Filers of GST Returns.
Extension of time limit for application for revocation of cancellation of registration and one time amnesty for past cases:
The Council has recommended amendment in section 30 of CGST Act, 2017 and rule 23...
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Category : GST |
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Taxability of Labour cess under CGST Act,2017. Whether it should be included in Taxable Value?
Posted Date : 22-Feb-2023 , 01:26:06 pm | Posted By
Abhishek Gupta
Labour Cess or certainly this could be referred to Building & Other Construction Workers' Welfare Cess (BOCWW Cess).
BOCWW Cess is levied on the cost of construction incurred by the employer as per the provisions of the Building and Other Construction Workers' Welfare Cess Act,1996
In order to...
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Category : GST |
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Important GST Notifications released in June 2022
Posted Date : 04-Jul-2022 , 08:10:07 pm | Posted By
CA. Dr. Gaurav Bhambri
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GST Notification 8/2022 | E-comm operators (GSTIN listed in notification) who could not file GSTR 8 for specified tax periods due to technical glich on portal but have deposited tax for the said months in ECL are waived from interest on delay in filing GSTR 8.
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No inter...
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Category : GST |
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Support to resource crunched MSMEs :Extension of FY21 GST annual return .
Posted Date : 04-Jan-2022 , 06:31:29 pm | Posted By
CA. Dr. Gaurav Bhambri
This Article mainly higlighting on relief to Covid-battered businesses on compliance front, the government on Wednesday extended till February 28 the deadline for them to file GST annual returns for 2020-21 fiscal ended March 2021. "The due date for furnishing annual return in FO...
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Category : GST |
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GST Rate analysis on Ice-cream parlours supplying manufactured ice creams
Posted Date : 15-Nov-2021 , 11:11:59 pm | Posted By
CA Ronak Khandelwal
*Takeaway from 45th GST Council meeting*(Ice-cream parlours supplying manufactured ice creams)
Recently in the 45th GST council meeting, it has been recommended that "Ice-cream parlours supplying manufactured ice-creams will be taxed @ 18% GST”. Further, the Circular issued pursuant t...
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Category : GST |
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LEGALITY STATUS OF ITC BLOCK BY GST DEPARTMENT
Posted Date : 07-Oct-2021 , 04:11:18 pm | Posted By
CA. PIYUSH KAPOOR
The article explains the Meaning of Input Tax, Eligibility and Condition of Taking input tax credit, what is Blocked Credit under GST, and the Legality of block credit
Introduction
“input tax” in relation to a registered person, means the central tax, State tax, integra...
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Category : GST |
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Highlights of 45th GST Council Meeting dated 17th September, 2021
Posted Date : 20-Sep-2021 , 11:50:49 am | Posted By
Ishita Ramani
Introduction
The 45th GST Council Meeting was held on 17th September, 2021 under the charimanship of Honourable Finance Minister Smt. Nirmala Sitharaman. The said Meeting took place at Lucknow, Uttar Pradesh. The meeting was attended by MOS Shri Pankaj Chaudhri besides Finance Ministers of States &...
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Category : GST |
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Drinking water supply through mobile tankers taxable at 18%
Posted Date : 16-Aug-2021 , 11:46:09 pm | Posted By
CA Ronak Khandelwal
Drinking water supply through mobile tankers taxable at 18%
1. Supply of drinking water to the public through mobile tankers or dispensers by a charitable organization is taxable at 18 percent under the GST, AAR has ruled.
2. The Andhra Pradesh bench of the Authority for Advance Ruling (AAR...
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Category : GST |
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Drinking water supply through mobile tankers taxable at 18%
Posted Date : 16-Aug-2021 , 11:45:53 pm | Posted By
CA Ronak Khandelwal
Drinking water supply through mobile tankers taxable at 18%
1. Supply of drinking water to the public through mobile tankers or dispensers by a charitable organization is taxable at 18 percent under the GST, AAR has ruled.
2. The Andhra Pradesh bench of the Authority for Advance Ruling (AAR...
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Category : GST |
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GST Monthly Journal_3rd Edition_August 2021
Posted Date : 09-Aug-2021 , 12:27:03 pm | Posted By
Ankit Khandelwal
Latest updates by way of Notifications issued
Notification No. 29/2021- Central Tax dated 30.07.2021
[Omission of Section 35(5) of the GST Act i.e. GST Audit and Substitution of Section 44 – by inserting Self-Certified Reconciliation Statement]
The said notification omi...
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Category : GST |
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GST REGISTRATION
Posted Date : 21-Jul-2021 , 03:12:43 pm | Posted By
CS MANJU LAUR
GST Registration
GST
GST is the biggest tax reform of the Country that subsumed various taxes in a single tax. With the introduction of GST the cascading effect has been abolished. It is an indirect nature tax applicable on the supply of goods or services or both. The taxable event...
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Category : GST |
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GST on Supply of Electricity - Dilemma of Levy
Posted Date : 06-Jul-2021 , 05:50:29 pm | Posted By
Ankit Khandelwal
Introduction Electricity or Electrical Energy is one of the major source of revenue for the state governments as it comes under the state list of the Constitution wherein they are collecting electricity charges from the customers. This is one of the major contentious issues whether it would be suppo...
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Category : GST |
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0 | Hits : 659 |
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Article on Dynamic QR Code!
Posted Date : 03-Jul-2021 , 02:32:43 pm | Posted By
Shilpa Sardana
Dynamic QR Code for B2C Transactions:
B2C transaction means all the supplies made to unregistered person or consumers. B2C invoices are those invoices where the end user will not be claiming input tax credit.
E-invoicing refers to a method of processing invoices in an electronic format and on a un...
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Category : GST |
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TAX EVASION UNDER GST AND MEASURES TO CURB IT
Posted Date : 19-Jun-2021 , 05:40:56 pm | Posted By
CA. PIYUSH KAPOOR
Introduction
Goods and Services Tax (GST) was implemented in the Indian economy from 1st July 2017 to replace the multiple indirect taxes and surcharges which were levied before 1st July 2017 with a single customized tax structure and also with the objectives of eliminating the cascading effect...
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Category : GST |
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Relief Measures announced in GST Compliances
Posted Date : 25-May-2021 , 11:57:58 am | Posted By
CA Ronak Khandelwal
Relief Measures announced in GST Compliances
Extension in due date for filing GSTR-4: -
Composition taxpayers for FY 2020-21- The due date extended to 31st May 2021 from current 30th April 2021.
Waiver of late fees in GSTR-3B: - GSTR-3B for the month of Marc...
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Category : GST |
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MOOWR Scheme – Solving Working Capital Problems for Importers
Posted Date : 20-May-2021 , 09:44:58 am | Posted By
May I Help You.
With a view to promote India as a global manufacturing hub and the commitment towards ease of doing business, CBIC has notified revamped regulation under Customs Law for manufacture and other operations in bonded warehouse - Manufacture and Other Operations in Warehouse (no.2) Regulations, 2019 (her...
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Category : GST |
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GSTR-2A & GSTR-2B and Rule-36(4)
Posted Date : 20-May-2021 , 12:36:21 am | Posted By
CA Ronak Khandelwal
Question (1) Whether GSTR-2B Legally Recognized. Question (2) Validity of Rule 36(4) as per GST law.
At present time 2B not legally valid and rule 36(4) not applicable any of the client in India. Conditions to Avail GST Input Tax credit prescribed in sec 16(2) (a) he is in possession of a tax invo...
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Category : GST |
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INTEREST ON REVERSAL OF UNUTILSED ITC
Posted Date : 06-May-2021 , 12:21:48 pm | Posted By
CA. PIYUSH KAPOOR
INTEREST ON REVERSAL OF UNUTILSED ITC
Introduction Input tax credit (ITC) is the tax paid by the buyer on the purchase of goods or services. Such tax which is paid ...
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Category : GST |
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QRMP Scheme – A beneficial scheme for small and middle- level businesses and traders
Posted Date : 20-Dec-2020 , 09:28:29 am | Posted By
DEEPTI ASAWA
A registered person who need to file a return in FORM GSTR-3B, and who has an aggregate turnover of up to 5 crore rupees in the preceding financial year, is eligible for the QRMP Scheme. The aggregate annual turnover for the preceding financial year shall be calculated in the common GSTN portal taki...
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Category : GST |
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Blocked Credit under Goods and Service Tax
Posted Date : 05-Sep-2020 , 11:25:26 am | Posted By
Santhosh Gupta Kethepalli
Blocked Credit {Sec.17 (5) of CGST Act, 2017}
Introduction:- Though the idea behind implementation of GST is free flow of tax credit, input tax credit is not available in respect of certain inward supply of goods or services as per Section 17(5) of the CGST Act, 2017. Sec.17(5) - Cases where...
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Category : GST |
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Tax Collection at Source - Goods and Service Tax
Posted Date : 31-Aug-2020 , 10:40:23 am | Posted By
Santhosh Gupta Kethepalli
TCS [TAX COLLECTION AT SOURCE]
{Section 52 of CGST Act, 2017}
Objective behind introduction of TCS: - refers to the Tax which is collected by the Electronic Commerce Operator when a supplier supplies some goods or services through its portal and the payment for that supply is collected b...
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Category : GST |
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E Way Bill - GST
Posted Date : 27-Aug-2020 , 12:38:26 pm | Posted By
Santhosh Gupta Kethepalli
E Way Bill Electronic Way Bill [Sec.68 r.w.r. 138, 138A, 138B, 138C & 138D]
Information to be furnished prior to commencement of movement of goods and generation of e-way bill [Rule 138]:-
Applicability:-
Every Registered Person who Causes Movement of Goods of Consignment Value Exceeding ...
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Category : GST |
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0 | Hits : 722 |
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Tax Deduction at Source under Goods and Service Tax
Posted Date : 25-Aug-2020 , 12:03:06 pm | Posted By
Santhosh Gupta Kethepalli
TDS [TAX DEDUCTION AT SOURCE] {Sec.51 of CGST Act, 2017.}
TDS stands for Tax Deduction at Source is a system, which was initially introduced by Indian Income Tax Department. For what:- Prevent Tax Evasion and expands the tax net, as it provides for the creation of an Audit Trail. Section...
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Category : GST |
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0 | Hits : 688 |
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Analysis of Judgement given by Gujarat High Court in the case of VKC Footsteps India Pvt Ltd vs. Union of India
Posted Date : 10-Aug-2020 , 12:50:42 pm | Posted By
Shankit Sharma
Analysis of the Landmark Judgment Passed by the Hon’ble Gujarat High Court in the case of VKC Footsteps India Pvt Ltd vs. Union of India & Others dated 24.07.2020 Background & Provisions of the GST Law In GST, Refund of Unutilised Input Tax Credit is dealt with in Section 54(3) of...
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Category : GST |
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Time Of Supply under RCM in GST With Practical Point
Posted Date : 26-Jun-2020 , 09:37:30 pm | Posted By
CA Sandeeprawat
Time Of Supply under RCM in GST With Practical Point Generally, the supplier of goods or services is liable to pay GST. However, in specified cases like imports and other notified supplies, the liability may be cast on the recipient under the reverse charge mechanism. Reverse charge means the...
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Category : GST |
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Documents required for the GST Registration
Posted Date : 13-Jun-2020 , 06:45:00 pm | Posted By
CA. Ajay Agrawal
(Please STRICTLY follow the Guidelines of Dept for size of the files )
Documents for Proprietor / Each Partner / Each Director -
1) PAN Card copy
2) Aadhaar Card copy
3) Mobile number and email id
4) Photo ( in JPG Format Only - max size 100 kb)
5) Place of Business - Detailed Address wi...
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Category : GST |
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0 | Hits : 808 |
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GST on Director’s Services - An Instigating Litigation with multiple Absurdity
Posted Date : 05-Jun-2020 , 03:14:42 pm | Posted By
Neelam Yadav
GST on Director’s Services - An Instigating Litigation with multiple Absurdity
General Background:
1.1 The legislature seems to have been marred by numerous interpretation and cause unintended disputes between tax payers and tax authorities. The corporates are still trying to...
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Category : GST |
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0 | Hits : 1283 |
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The New Composition Scheme
Posted Date : 04-May-2020 , 02:40:25 pm | Posted By
CA (CS) Ujjwal Jindal
CA (CS) Ujjwal Jindal
Since its introduction, GST has been into controversies. Many people found it unreasonable and for others it was just a new tax regime which was introduced in a hurry. The government kept on moving with the newly introduced tax system keeping the public along, listening to th...
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Category : GST |
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