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Gist of GST Articles
GST completed two years since its implementation from 01.07.2017. Initially the GST was proposed to be implemented from 01.04.2010. However, due to lack of political consensus the GST could not be implemented by 2010. Brief History as available in www.gst.gov.in…
Section 9(3) of CGST Act, 2017 provides that “The Government may, on the recommendations of the Council, by notification, specify categories of supply of goods or services or both, the tax on which shall be paid on reverse charge basis…
Needless to mention that there are number of Notifications, Circular, Advance ruling, High Court judgments, Supreme Court Cases etc. These are published so as to bring changes to the GST Act and Rules. In case of ambiguity in the interpretation…
The Central Government has introduced as scheme called SABKA VISHWAS (LEGACY DISPUTE RESOLUTION) SCHEME, 2019. This scheme came into effect from 01.09.2019 as is available till 31.12.2019. The Central Government has also made the rule called Sabka Vishwas (Legacy Dispute…
One month time left out to reconcile books of account of F.Y. 2018-19 to ensure that maximum Input Tax Credit (ITC) is claimed. As per the provision u/s 16(4) of CGST Act, 2017, a taxpayer can take input tax credit…
The Central Board of Indirect Taxes and Customs (CBIC) has clarified doubts on how to prepare some tables in GST Annual return and reconciliation vide Press release dated 03.07.2019. Those are reproduced below for easy reference: Payment of any unpaid…
GSTR-9 pre-filled form is available in www.gst.gov.in after login into the portal. GST-9C which is a reconciliation statement is available in both online format and offline utility. First of all, GSTR-2A reconciliation should be started. This involves matching of credit…
Attention of all taxpayers is invited to Rule 46 (b) of the CGST Rules 2017, which specifies that the tax invoice issued by a registered person should have a consecutive serial number, not exceeding sixteen characters, in one or multiple…
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
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…