GST Council – Advance Ruling Listing
GST – 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…
Updates
GST Portal – Help and Taxpayer facilities-reg.
In 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…
E-invoice revised schema released & Threshold limit increased
E-Invoice is coming into effect from 01.10.2020. The Govt has released revised e-invoice Format / schema on 30.07.2020 vide Notification 60/2020-CT dated 30.07.2020. In the month of December 2019 notification no 68 to 72 was published by CBIC to introduce…
GST on contract value considering Section 15(2)(b) of CGST Act, 2017
PROVISION u/s 15(2)(b) Section 15 of CGST Act, provides for determination of value of taxable supply on which GST should be charged. Sub-section 2 list downs the expenses which are to be included to arrive at value of taxable supply. As per…
Optional tables for filing GST Annual Return for F.Y.2018-19
A relook into the GST annual return filed for F.Y.2017-18. The last date to file GST annual return for the period from 01.07.2017 to 31.03.2018 was 31.01.2020. The original due date was 31.12.2018. But, due to several reasons the due date…
Credit Note can be issued without charging GST
Extract of provision: Sec.34(1) of CGST Act, “Where one or more tax invoices have been issued for supply of any goods or services or both and the taxable value or tax charged in that tax invoice is found to exceed the taxable…
Condition of Sec.16(2) of CGST Act for claiming ITC
One of the conditions for a taxpayer to claim input tax credit is that the value of inward supply along with tax payable thereon shall be paid within a period of 180 days from the date of issue of invoice…
Circular no.138/08/2020-GST dated 06.05.2020
Certain doubts has been clarified. Doubts: As per notification no. 40/2017- Central Tax (Rate) dated 23.10.2017, a registered supplier is allowed to supply the goods to a registered merchant exporter at 0.1% provided, inter-alia, that the merchant exporter exports the…
What is GST to a Common Man ?
Whether a common man is concerned about GST? The answer is No. A ‘common man’ for the purpose of this article is ‘a consumer’. Whether the supplier is concerned about GST? The answer is No, because he does not pay…
A brief Note on GSTR-3B
GSTR-3B is a summarized return. A taxpayer is required to file this return as per the requirement of the provision u/r 61(5) of CGST Rules, 2017. This return is filed on a monthly basis. In this return the taxpayer furnishes…