136 ViewsPress release is published on 29.08.2020 to announce the launch of GSTR-2B on a trail basis. The taxpayers can login into GSTN and download their GSTR-2B for the month of July, 2020. The Govt. has requested the taxpayer to compare the input tax credit taken by them with the input tax credit that is […]
Interest u/s 50 shall be levied on the GST liability paid thru Cash
130 ViewsNotification No. 63/2020-Central Tax dated 25.08.2020 has been published by CBIC to give effect to Section 100 of the Finance (No. 2) Act, 2019 (23 of 2019) dated 01.08.2019 which provides as below, In section 50 of the Central Goods and Services Tax Act, in sub-section (1), the following proviso shall be inserted, namely:–– […]
Two Important tasks (GST Annual Return & E-Invoicing) to be completed in the month of Sept. 2020
136 ViewsThere are two tasks which are required to be completed in the month of September, 2020. One is filing of GST Annual Return and the second one is E-invoicing readiness. GST Annual Return The due date to file GST Annual Return for the financial year 2018-19 is 30.09.2020. A person registered under GST as […]
COMPOSITE SUPPLY -AAR, Andhra Pradesh-M/s. CMC VELLORE ASSOCIATION
119 ViewsSection 2(30) of CGST Act, 2017 defines the term “composite supply” as “Composite supply means a supply made by a taxable person to a recipient consisting of two or more taxable supplies of goods or services or both, or any combination thereof, which are naturally bundled and supplied in conjunction with each other in […]
AAR, AP-PULLURI MINING & LOGISTICS PRIVATE LTD-Sec 15(2)(b) – GST
156 ViewsSection 15 of CGST Act, 2017 provides for determination of value of taxable supply. The value of supply of goods or services or both shall be the transaction value which is the price paid or payable by the recipient of the supply. However, in terms of clause (b) of sub-section 2 of section 15, […]
A brief info on E-Invoice System / Portal
150 ViewsNIC – National Informatics Centre has built the e-invoice system https://einvoice1.gst.gov.in under the direction of GST Council. The system / portal has been enabled for the taxpayers with PAN based turnover more than Rs. 500 Crores, during the financial year 2019-20. The notified taxpayers has to generate the IRN – Invoice Reference Number for […]
AAR, Telangana – HSN and GST rate on Poultry Meal and Poultry Fat
188 ViewsAPPLICANT M/s. Sushi Pet Nutriscience, a registered taxpayer in the State of Telangana has filed an application seeking advance ruling with respect to tax rate applicable on ‘Poultry Meal’ and ‘Poultry Fat’. FACT OF THE CASE: The applicant is engaged in manufacturing / rendering of ‘Poultry Meal’ and ‘Poultry Fat’. Both these products are […]
E-invoice Schema / Format – mandatory fields
171 ViewsE-invoice is applicable to those taxpayers whose aggregate turnover is more than Rs.500 Crores. E-invoice is coming into effect from 01.10.2020. Following persons are exempted from e-invoice Special Economic Zones, Insurer or a Banking company or a financial institution, including a non-banking financial company, goods transport agency, supplier of taxable service supplying passenger transportation […]
GST Council – Advance Ruling Listing
152 ViewsGST – Goods and Service Tax is a Good and Simple Tax. Prior to GST i.e. in previous tax regime each State had their own Act and Rules. Also each municipal authority had their own Act and Rules which had to be followed by taxpayers while moving their goods from one local municipal area […]
GST Portal – Help and Taxpayer facilities-reg.
300 ViewsIn the Home page of www.gst.gov.in, there is a menu “Help and Taxpayer facilities”. It has “Taxpayer Services” and “Help Items” Section. A) Taxpayer Services provides following three information. 1) the list and details of empanelled accounting and billing software solutions: There are 8 companies in the list which provides Accounting and Billing Software […]