CBIC have notified 21st April 2020 as the appointed date from which rule 87(13) shall come into effect.
Posted Date : 29-Apr-2020 , 09:54:55 pm | Posted By
Mansi Vohra
CBIC have notified 21st April 2020 as the appointed date from which rule 87(13) shall come into effect. Form GST PMT-09 is now available on GST portal and it enables a taxpayer to make intra-head or inter-head transfer of amount available in Electronic Cash Ledger. A taxpayer can file GST PMT...
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Category : GST |
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SEARCH AND INSPECTION UNDER GST
Posted Date : 14-Feb-2020 , 06:36:09 pm | Posted By
CA. PIYUSH KAPOOR
Meaning under GST ACT ‘Search’ involves an attempt to find something. Search, in tax/legal parlance, is an action of a government official (a tax officer or a police officer, depending on the case) to go and look through or examine carefully a place, person, object etc. in order to...
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Category : GST |
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ITC on CSR activities under GST
Posted Date : 09-Feb-2020 , 03:10:01 pm | Posted By
Anshul Medatwal
ITC on Corporate Social Responsibility Some Important Definitions:
Goods means every kind of movable property other than money and securities but includes actionable claim, growing crops, grass and things attached to or forming part of the land which are agreed to be severed before s...
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Category : GST |
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GST – Glance of game changers in the year 2019
Posted Date : 14-Jan-2020 , 09:02:39 pm | Posted By
CA Prabhava Hegde
Goods and Service Tax is the best step in India’s indirect tax reforms. GST is a path breaking indirect tax regime which creates a national common market. GST was implemented not only to get rid of fallacies of the then indirect tax models but also to improve tax compliances and check black ma...
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Category : GST |
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Six things must To Do in Sept-19 for every GST registered person
Posted Date : 24-Sep-2019 , 11:07:52 pm | Posted By
Sagar
“Six things must To Do” in Sept-19 for every GST registered person!! 20th October, 2019 is approaching soon & every person registered under GST must be aware that 20th October, 2019 is the due date for availing ITC for FY 2018-19. The extract of the section 16(4) of CGST Act, 2017 i...
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Category : GST |
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Clarification regarding Annual Returns and Reconciliation Statement
Posted Date : 04-Jul-2019 , 02:25:02 pm | Posted By
Mansi Vohra
Clarification regarding Annual Returns and Reconciliation Statement
The Government of India has been receiving a number of representations regarding Annual Return (FORM GSTR-9 / FORM GSTR-9A) and Reconciliation Statement (FORM GSTR-9C). In this regard the following clarifications are issued for inf...
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Category : GST |
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GSTR - 9C DECODED IN KRISHNA UPDESH TO ARJUN IN MAHABHARAT GEETA MODE
Posted Date : 21-Jun-2019 , 01:00:47 pm | Posted By
CS Piyush Jain
Arjuna (Fictional Character): Krishna, When is GST Audit applicable?
Krishna(Fictional Character): Arjuna, GST Audit for FY 2017-18 is applicable to every registered person whose aggregate turnover during a financial year exceeds Rs. 2 Crores. The copy of audited annual accounts and a reconciliatio...
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Category : GST |
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GST AUDIT CHECKLIST
Posted Date : 12-Jun-2019 , 11:49:32 am | Posted By
Rubneet Anand
GST AUDIT CHECKLIST To help in conducting GST audit and in order to facilitate a clause by clause analysis of Form GSTR-9C by members and other stakeholder, GST & Indirect Taxes Committee of ICAI has brought out the Technical Guide on GST Audit. Since GST Audit is the last activity to be done b...
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Category : GST |
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Clarifications on filing of Annual Return-Form GSTR-9
Posted Date : 07-Jun-2019 , 05:04:45 pm | Posted By
Rinki
Sr. No.
Issue addressed
Details
1
Auto-Population of Form GSTR-9 from GSTR-2A
Terminology:- GSTR-2A:_Details of auto drafted supplies GSTR-9: Annual Return Clarification:- Information contained in GSTR-2A(table 3 & 5) as on 01.05.2019 shall be auto-populated in Table 8A of ...
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Category : GST |
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Queries on GSTR 9 Annual Return of GST
Posted Date : 07-Jun-2019 , 10:30:46 am | Posted By
Sagar
Solution to GSTR 9 Queries (GST Annual Return)
v Annual Return Form?
Form GSTR 9
v Filing by whom?
Every Registered Person
v Turnover Criteria for GSTR 9?
To be filed irrespective of Turnover in FY 2017-18
v Form to be filed PAN or GSTN ...
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Category : GST |
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SEARCH AND INSPECTION UNDER GST
Posted Date : 08-May-2019 , 06:13:09 pm | Posted By
CA. PIYUSH KAPOOR
Meaning under GST ACT ‘Search’ involves an attempt to find something. Search, in tax/legal parlance, is an action of a government official (a tax officer or a police officer, depending on the case) to go and look through or examine carefully a place, person, object etc. in order t...
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Category : GST |
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Goods Transport Agency in GST
Posted Date : 08-May-2019 , 06:01:01 pm | Posted By
Anuj Khaitan
GOODS TRANSPORT AGENCY IN GST A) Definition As per Notification-12/2017, Clause no-ze, Dt-28.06.17 (Central Tax Rate) a GTA is any person who provides service in relation to transportation of goods by road and issues a consignment note by whatever name called. Thus, it can be seen that issuance of...
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Category : GST |
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GST Impact on Transfer of Business conversion of Pvt Ltd to LLP
Posted Date : 23-Mar-2019 , 06:07:43 pm | Posted By
Vijaykumar
GST Impact Transfer of Business conversion of Pvt Ltd to LLP Company Act, 2013 or LLP Act, 2008 allows companies or LLP or Partnership Firms to change their constitution or convert them i.e. from Private limited to LLP or any other combination. In such a situation, it’s very impo...
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Category : GST |
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GST COUNCIL 31 ST MEETING IN BRIEF
Posted Date : 06-Jan-2019 , 11:27:24 am | Posted By
CHETAN CHHABRA
GST, Excise, Service Tax, Customs & VAT updates for December 2018 The GST Council (‘Council’) convened its 31st Meeting on December 22, 2018 after a gap of almost 3 months. The council has proposed reduction of tax rates for serval items, legislative amendments and other chan...
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Category : GST |
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List of Goods and Services which are not Eligible for Input Tax Credit under GST
Posted Date : 22-Dec-2018 , 01:04:41 pm | Posted By
SANJIV KUMAR JHA
List of Goods and Services not Eligible for Input Tax Credit under GST
According to Section 17, the input tax credit is available only to the extent of the goods or services used for the business purpose or effecting taxable supplies including zero rated supplies as prescribed in Rule 42 &am...
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Category : GST |
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Key Amendments notified/clarified under GST Notifications dated 04th September 2018
Posted Date : 06-Sep-2018 , 08:40:43 am | Posted By
Rubneet Anand
Notification No. 39/2018- Central Tax, dated 4 September 2018
Rule 36 of the CGST Rules, 2017 has been amended wherein ITC may be availed by a registered person if the document issued by supplier contains certain specified particulars i.e. Details of amount of tax charged, Description of g...
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Category : GST |
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Recent Amendments in Input Tax Credits Provisions under GST
Posted Date : 04-Sep-2018 , 06:52:35 pm | Posted By
CA Sanjay Jain
The Parliament of India has recently passed the Central Goods and Service Tax Amendment Bill which receives the President’s accent on 29th August, 2018 and become an Act known as Central Goods and Service Tax Amendment Act, 2018 (in short “Act”). However, these amendments are...
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Category : GST |
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List of all GST Sections for Quick Revision
Posted Date : 21-Aug-2018 , 12:16:25 pm | Posted By
CS Piyush Jain
List of all sections of GST, All Sections of Goods and Service Tax
Section 1 – Short Title, extent and commencement
Section 2 – Definitions
Section 3 – Officers under GST Act.
Section 4 – Appointment of officers.
Section 5 – ...
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Category : GST |
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GST Applicability on Supply of Employees Services to Inter State Units
Posted Date : 17-Aug-2018 , 05:05:53 pm | Posted By
CA Sanjay Jain
Recently, the Authority on Advance Ruling for GST in the State of Karnataka has given an important ruling in the matter of M/s COLUMBIA ASIA HOSPITALS PRIVATE LIMITED vide its ruling no. KAR ADRG 15 / 2018 Dated 27th July 2018 wherein it has held that the activities performed by the employees at the...
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Category : GST |
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WHAT IS COMPOSITION SCHEME UNDER GOODS AND SERVICES TAX? A Brief Analysis
Posted Date : 14-Aug-2018 , 11:55:16 pm | Posted By
Rubneet Anand
WHAT IS COMPOSITION SCHEME UNDER GOODS AND SERVICES TAX?
A Brief Analysis
Sec 10 of CGST Act 2017 explains the composition levy under Goods and Services Tax, according to which, a registered person, whose aggregate turnover in the preceding financial year did not exceed* may opt to pay, i...
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Category : GST |
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Preamble, Tittle and Applicability of GST Laws
Posted Date : 15-Jul-2018 , 12:26:26 pm | Posted By
Rajnish Kumar
Preamble, Tittle and Applicability of GST Laws
Acts
THE CENTRAL GOODS AND SERVICES TAX ACT, 2017
THE INTEGRATED GOODS AND SERVICES TAX ACT, 2017
THE UNION TERRITORY GOODS AND SERVICES TAX ACT, 2017
THE GOODS AND SERVICES TAX (COMPENSATION TO STATES) ACT, 2017
THE [NAME OF STATE E....
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Category : GST |
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REPLY FOR GST RETURN MISMATCH NOTICE
Posted Date : 25-May-2018 , 03:23:09 pm | Posted By
Chetan
Return: Section 2(97) CGST Act 2017 unless the context otherwise requires, the term “return” means any return prescribed or otherwise required to be furnished by or under this Act or the rules made there under. Rule 61 of CGST ACT Form and manner of submission of monthly return Rul...
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Category : GST |
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Audit Provision as per CGST Act, 2017
Posted Date : 25-May-2018 , 12:30:03 am | Posted By
Chetan
Sec. 2 (13) of CGST Act 2017: It is an examination of records, returns and other documents maintained or furnished by the registered person under this Act or the rules made there under or under any other law for the time being in force...
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Category : GST |
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Tax Planning to save your GST
Posted Date : 26-Feb-2018 , 01:43:18 pm | Posted By
CS Piyush Jain
We have seen various ways to save Income Tax since ages, but what about this GST, how GST can be saved, How inflow of cash in the firm can be increased, how can I increase my assets and decrease liabilities towards GST department.
So to solve this confusion, I would like to present some of ...
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Category : GST |
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0 | Hits : 2734 |
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How to spot a fake GST bill
Posted Date : 28-Jan-2018 , 07:56:36 pm | Posted By
Hardik Lashkari
GST has brought several issues for the taxpayers in form of changed bill formats and higher tax burden. Businesses are still unable to understand the details that need to be put in the invoice.
While some businesses are committing the mistakes unintentionally, others have taken this transition as a...
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Category : GST |
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0 | Hits : 1918 |
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E-Way Bills on Inter State Movement of Goods – A changing dynamic of GST
Posted Date : 22-Jan-2018 , 04:32:02 pm | Posted By
CA Sanjay Jain
E-Way Bills on Inter State Movement of Goods – A changing dynamic of GST Recently, the Central Government has issued notification no 74/2017,dated 29.12.2017 whereby it has fixed 1st February 2018 as the applicable date for use of E-way bills in relation to Inter State movement of good...
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Category : GST |
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Mystery unloacked - Composition Scheme under GST Laws
Posted Date : 12-Jan-2018 , 06:05:30 pm | Posted By
CS Piyush Jain
A. Who can opt for Composition Scheme? • Businesses with annual turnover upto Rs 1.5 crore* can opt for composition scheme. • Turnover of all businesses with same PAN has to be added up to calculate turnover for the purpose of composition scheme. • Only Manufacturers of goods, Deal...
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Category : GST |
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E-Way Bill under GST In Rajasthan With Practical Examples
Posted Date : 31-Dec-2017 , 04:44:18 pm | Posted By
Vikas Modi
E-WAY bill is required to generate when value of goods in a vehicle exceeds Rs. 50,000/- for transportation outside the state.
E-WAY bill should be generated if goods move for following reasons:
Supply;
For Reason Other Than Supply;
Due to inward supply from Unregistered Person.
If ...
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Category : GST |
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0 | Hits : 1297 |
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Goods Transport Agency Taxability under GST
Posted Date : 25-Dec-2017 , 06:06:04 pm | Posted By
NITIN SHARMA
Services by way of transportation of goods by road except the services of i) a Goods Transport Agency ii) a courier agency are exempt from GST. To qualify as services of GTA, the GTA should be necessarily issuing consignment note. Moreover, in cases where the ...
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Category : GST |
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2 | Hits : 1071 |
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Issuing of invoice and payment voucher under GST
Posted Date : 01-Nov-2017 , 02:23:50 pm | Posted By
Amit Kumar
In current environment there is a big ambiguity regarding when we are need to issue tax invoice for the taxable supply received from unregistered supplier specified in u/s 9(3) and 9 (4) of CGST Act and at what point of timing we are need to issue payment voucher. There are t...
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Category : GST |
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0 | Hits : 1014 |
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