In relation to the enrollment and registration process, some queries were raised by the trade. The resolution received for these queries from GSTN is brought to the notice of the trade through this circular.
GST registration process is a online process through a online portal provided by Central Government of India. Government also appoint GSPs (GST Suvidha Providers) to help businesses with the registration process. Facilitation Center are also available for assisting taxpayers for getting registration under GST.
Are you completely satisfied with the financial products you have bought or investments sold to you? If your answer is No, is it because of mis-selling or mis-buying? Mis-selling means that you were given unsuitable advice, the risks were not explained to you or you were not given the information you needed, and ended up […]
If I buy raw material from supplier unregistered in GST, do I have to pay GST in RCM and can I avail ITC of the same ? Ans:- Yes, you have to pay GST via RCM. You can avail ITC of the GST so paid if you are otherwise eligible.
Most of the insurance surveyors’ gross receipts are less than Rs. 20 Lakhs only and those who are getting more than Rs. 10 Lakhs have already registered under the erstwhile Service Tax and as such they are already collecting Service Tax from the Insurance Companies and paying the same quarterly at due dates and of course filing half yearly returns.
Whenever a new levy or new scheme / Law of taxation is introduced, it may completely overwrite the existing tax laws and rewrite rules of the game. That’s what will happen when GST is introduced. Entire scheme of Indirect Taxation will undergo radical overhaul. So to cope up with that change, transitional provisions are created in new law to ensure smooth and hassle-free adoption of new scheme of taxation to safeguard interests of existing taxpayers. In this article explain the Section 139 , 140 and 141.
If a person carrying out any business and have an annual aggregate turnover in the preceding financial year exceeding Rs. 20 lakhs (Rs. 10 lakhs in Special Category States), you need to register in all States/Union Territories from where you are making taxable supplies.
Since GST is in place and has replaced old indirect taxation from 1 st July, 2017, new concept of RCM (Reverse Charge Mechanism) for buying from unregistered dealer and GST on advance received from the customer has made difficulties for most of the accountant.
There are points being raised about the applicability of GST on legal services provided by advocates — whether it is in forward charge or reverse charge. It may be mentioned that there is no change made in taxation of legal services in the GST era.
Position regarding applicability of the Margin Scheme under GST for dealers in second hand goods in general and for dealers in old and used empty bottles in particular. Doubts have been raised regarding the applicability of the Margin Scheme under GST for dealers in second hand goods in general and for dealers in old and […]
