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Archive: 11 August 2017

Posts in 11 August 2017

Video: Easiest way to file GSTR 3B first return in excel sheet

August 11, 2017 31428 Views 24 comments Print

Form GSTR 3B is the first return of GST regime to be filed by registered dealer and not composition dealer. This online return pertaining to the period of July 2017 needs to be filed by 20-8-2017. This is the summary return of aggregate turnover of taxable supply, exempt supply, export supply and non levy supply and also tax payable. This return can be accessed on

Distribution of GST Provisional Id & Access Token of Phase 9 dealers

August 11, 2017 1515 Views 0 comment Print

Provisional Ids and Access Token of Phase 9 dealers, are now made available by GSTN. Dealer can obtain their Provisional Ids from department’s portal, using their login credentials. The list of all such dealers is published under GST Tab on Mahavat portal.

CBEC clarifies on furnishing of Bond/Letter of Undertaking for Export

August 11, 2017 10806 Views 1 comment Print

Notification No. 16/2017 – Central Tax dated 7th July, 2017 specifies conditions to be fulfilled for export under Letter of Undertaking (LUT) in place of bond. In the extant Central Excise provisions, LUTs were limited to manufacturer exporters only.

Impact of GST on Khadi products

August 11, 2017 5391 Views 0 comment Print

With the exemption to the SSI sector being drastically reduced from the existing Rs.150 lakh to Rs.20 lakh, the exemption cover enjoyed by many of the Khadi Institutions (KIs) has been removed. KIs are now mandated to obtain registration under GST and also pay GST on various Khadi products which is 5%.

Case Study on Section 185 and Section 186 of Companies Act 2013

August 11, 2017 40785 Views 6 comments Print

Loans and advances are used together and in common parlance deemed to be synonyms of each other but as per various judicial decisions there is a clear line of demarcation between the two terms.

LUT/bond will be processed / accepted within 3 working days: CBEC Chairman

August 11, 2017 6639 Views 2 comments Print

It has also been instructed that LUT/bond should be processed on top most priority and should be accepted within a period of three working days from the date of submission of LUT/bond. I hope that the issuance of this circular will bring more clarity regarding exports in the GST regime.

GSTR-3B An Analysis

August 11, 2017 23400 Views 4 comments Print

Before moving to file GSTR-3B we need to understand why GSTR-3B is required to be filed by a normal taxable person instead of GSTR-1, GSTR-2 and GSTR-3 for the first two month (i.e. July and August, 2017.

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