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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…
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…
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…
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..…
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…
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…