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Archive: 08 July 2017

Posts in 08 July 2017

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6141 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Live Course on How to Reply to GST Notices & SCN & to Fake ITC Notices? – Last day to Register

May 15, 2024 19209 Views 0 comment Print

Join our live course to learn expert strategies for replying to GST notices, SCNs, and fake ITC notices. Understand litigation nuances, evidence insights, and practical tips for effective responses. Register now!

Concepts of GST: Registration and Migration

July 8, 2017 6645 Views 1 comment Print

Concepts of GST: Registration and Migration Registration ­- Who has to register? → Turnover above 10 lakhs / 20 lakhs pa → Inter-state supplier → Required only in the state from where the supply is made → Casual & non resident taxable persons → Persons on whom there is responsibility of paying full tax under […]

Composition and record keeping under GST

July 8, 2017 21453 Views 7 comments Print

PART A-Composition Scheme What is the composition scheme Who is eligible to avail composition scheme Category of persons excluded from the Scheme Composition rates and computation of tax Procedure to be followed Part B- Accounts and records Accounts and records to be maintained Period for which to be retained Composition levy is an option for […]

GST Impact on Weekend/Recreational Expenditure

July 8, 2017 4902 Views 0 comment Print

With the introduction of the Goods and Services Tax on 1st July 2017 spending on leisure or recreation activities is expected to burn a hole in your pocket.

Impact of GST on Street food vendors

July 8, 2017 15651 Views 1 comment Print

Query 1. Whether Sale of food by a restaurant is a supply of goods or a supply of service? Query 2. Sir i am having a small shop of samosa, jalebi and gulabjamun previosly I was paying 1 %on turn over now what should I do? Ans: GST has different slab rates for goods, services […]

Reverse Charge in GST regime

July 8, 2017 11736 Views 6 comments Print

Generally GST is payable by taxable person who supplies goods or gives service or both- Section 9(1) of CGST Act & Section 5(1) of IGST Act. However there are few exceptions to this aka, GST payable by recipient of Goods or Service or both- Section 9(3) or 9(4) of CGST Act or Section 5(3) or 5(4) of IGST Act. This means that receiver of goods/service will discharge the duty of GST payment of supplier of goods/service.

Demystifying GSTR -1 form

July 8, 2017 4785 Views 0 comment Print

You may aware that, govt. had given some relaxation to the taxpayers regarding filling GSTR 1 up to Sept 2017. As we all are very much into the new regime & trying to address daily issues coming up under GST, we may forget to completely understand what GSTR-1 requires.

11 Basic FAQs on GST

July 8, 2017 5019 Views 2 comments Print

What is GST? Ans. Simply put GST stands for Goods and Services Tax, which is levied on supply of goods or services or both. Sale of goods, for example is a type of supply. Various economic activities are all different types of supply.

12 FAQs on Returns under GST

July 8, 2017 4329 Views 0 comment Print

From when do the first Returns need to be filed by taxable person in respect of outward supplies? Ans: First Return of outward supplies need to be filed from the date on which he became liable for registration till the end of the month in which the registration has been granted.

6 FAQs on Accounts under GST

July 8, 2017 4266 Views 0 comment Print

1. What is the basic information that needs to be furnished in Form GSTR-1? Ans: The details to be entered in the return of outward supplies Form GSTR-1, made by the trader depends upon the nature of supplies made. The provisions are as follows:

10 FAQs on Tax invoice under GST

July 8, 2017 7740 Views 1 comment Print

1. Who is liable to issue a ‘tax invoice’? Ans: Eve y taxable person supplying goods or services or both is required to issue ‘tax invoice’. 2. What details are to be contained in a ‘tax invoice’? Ans: The tax invoice shall contain details as specified in Rule 1 of Tax Invoice,Credit and Debit Notes […]

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