GSTR-1 Due date extended by 2 days for March 2019
The due date for furnishing FORM GSTR-1 for taxpayers having aggregate turnover more than Rs. 1.5 crores for the month of March, 2019 is extended from 11.04.2019 to 13.04.2019
Updates
Ineligible Input Tax Credit (ITC) u/s 17(5) of CGST Act, 2017
As per section 17(5) of CGST Act, 2017, the Input Tax Credit (ITC) shall not be available in respect of the followings, namely:- Clause (a): Motor vehicles used for transportation of persons having approved seating capacity of up to thirteen…
Eligibility and conditions for taking Input Tax Credit in GST
Section 16 of Central Goods and Service Tax (“the Act”) provides for the eligibility and conditions for taking Input Tax Credit (ITC). The said section provides that, subject to the conditions, every registered person shall be entitled to take credit…
Precious 20days to ensure all ITC of F.Y.2017-18 is claimed
The time limit to claim input tax credit of the invoices pertaining to financial year 2017-18 is 20th April, 2019. As per the provision the time limit was 20th October, 2018. But since the financial year 2017-18 is the first…
Maximum availment of Input Tax Credit (ITC)
Presently, the mechanism of claiming Input Tax Credit (ITC) is a self assessment basis. That is the registered person furnishes the ITC amount in table no. 4 of FORM GSTR 3B based on his own working and claims the credit..…
Due date for filing of GST ITC-04 for July17 to Mar19
As per rule 45(3) of CGST Rules, 2017, “the details of challans in respect of goods dispatched to a job worker or received from a job worker during a quarter shall be included in FORM GST ITC-04 furnished for that…
Self invoice under GST
As per section 31(3)(f) of CGST Act, 2017, “a registered person who is liable to pay tax under sub-section (3) or sub-section (4) of section 9 shall issue an invoice in respect of goods or services or both received by…
Input Tax Credit (ITC) of invoice pertaining to F.Y.2017-18
A registered person is entitled to take input tax credit of any invoice or debit note pertaining to invoice of the financial year 2017-18, till the filing of return for the month of March, 2019 i.e 20.04.2019. This facility is…
GST Annual Return for the financial year 2017-18
GST Annual Return for the financial year 2017-18 is nearing the due date. A three months time from now to prepare the return seems not adequate looking into the number of invoices of input tax credit claimed to match with…
Order-02/2019-GST dated 12.03.2019
Appointment of common authority for the purpose of exercise of powers under sections 73,74, 75 and 76 of the CGST Act, 2017