WHAT IS GSTR-9? GSTR 9 is an annual return to be filed once in a year by the registered taxpayers under GST including those registered under composition levy scheme. It consists of details regarding the supplies made and received during the year under different tax heads i.e. CGST, SGST and IGST. It consolidates the information […]
ANNUAL RETURN UNDER GST (ALL ABOUT GSTR 9) Read More »
As per the provision u/s 16(4) of CGST Act, 2017 “A registered person shall not be entitled to take input tax credit in respect of any invoice or debit note for supply of goods or services or both after the due date of furnishing of the return under section 39 for the month of September following
Most beneficial feature to GST is Input tax credit Flow. here we will discuss the followings: • What is input tax credit? • Who can claim ITC? • which Type of Goods ITC cannot be claimed? • Reversal of Input Tax Credit • Documents required for claiming ITC What is input tax credit? Input Tax
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Following is Trademark class list: THE FOURTH SCHEDULEClassification of goods– Name of the classes(Parts of an article or apparatus are, in general, classified with the actual article or apparatus, except wheresuch parts constitute articles included in other classes)Class 1. Chemical used in industry, science, photography, agriculture, horticulture and forestry;unprocessed artificial resins, unprocessed plastics; manures; fire
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we are sharing in a very brief way and easy to understand supply under GST (Section 7 of CGST Act): INCLUDES: SALE, TRANSFER, BARTER, EXCHANGE, LICENSE, RENTAL, LEASE, DISPOSAL, FOR CONSIDERATION, IN COURSE OF FURTHERENCE OF BUSINESS IMPORT OF SERVICES, FOR CONSIDERATION, WHETHER IN COURSE OF FURTHERENCE OF BUSINESS OR NOT ACTIVITIES SPECIFIED IN SCHEDULE-I,
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As per Sec 35(5) Every registered person whose turnover during financial year exceeds the prescribed limit shall get his account audited by a CA or Cost Accountant As per Rule 80(3): Every registered person whose aggregate turnover during financial year exceeds two crore rupees shall get his account audited and furnish a reconciliation statement duly
WHO IS LIABLE FOR GST AUDIT, GST AUDIT किसे कराना है और किसे नहीं? GSTR9C Read More »
A taxable person whose GST registration is cancelled or surrendered has to file a return in the form of GSTR-10. क्या है GSTR10 (WHAT IS GSTR 10)? A taxable person whose GST registration is cancelled or surrendered has to file a return in the form of GSTR-10. This return is called as final return. किसे
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AS PER CIRCULAR 92/11/2019-GST DATED 7TH MARCH 2019: Various representations have been received seeking clarification on issues raised withrespect to tax treatment of sales promotion schemes under GST. To ensure uniformity in theimplementation of the law across the field formations, the Board, in exercise of its powersconferred under section 168(1) of the Central Goods and
ITC will not be available in respect of the following: Motor vehicles and other conveyances EXCEPTIONS for transporting the goods (e.g. GTA) for making the following taxable supplies, namely: further supplying such vehicles or conveyances (e.g. Maruti dealers) Transporting the passengers (e.g. OLA) imparting training on driving, flying such vehicles or conveyances (e.g. Driving Trainers)
SECTION 17(5) OF CGST ACT , BLOCKED CREDIT UNDER GST Read More »
n theUnion Budget 2019-20, the Hon’ble Finance Minister announced the Sabka Vishwas-Legacy Dispute Resolution Scheme, 2019. The Scheme has now been notified and will be operationalized from 1st September 2019. The Scheme would continue till 31st December 2019. Government expects the Scheme to be availed by large number of taxpayers for closing their pending disputes relating to legacy Service