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Inspection, Search & Seizure – Section 67 of CGST Act 2017

October 9, 2020 48783 Views 2 comments Print

Section 67 of the CGST Act 2017 stipulates the provisions relating to Inspection, Search & Seizure. In this article, an attempt has been made to explain the provisions & Rules in a simplified manner.

Matching Concept Under GST

October 5, 2020 26007 Views 2 comments Print

1. The concept of Matching forms the backbone of ITC (Input Tax Credit) under the GST regime. According to this concept, ITC of the recipient for inward supply to be accepted only if the corresponding outward supply of supplier is matched. 2. Section 42 of the CGST Act prescribed the procedure for matching the outwards […]

Overview of TCS on Sale of Goods Sec 206C(1H) – Income Tax Act 1961

October 1, 2020 52026 Views 35 comments Print

1. A sub-section (1H) to section 206C of the Income Tax Act, 1961 has been inserted vide Finance Act 2020 which is effective from 01.10.2020. Section 206C (1H) provides for the collection of Tax at Source (TCS). 2. This article covers the statutory provisions, the functionality of the TCS on goods and the salient features […]

A to Z of E-Invoicing Under GST- Detailed Analysis

September 27, 2020 78510 Views 39 comments Print

A2Z OF E – INVOICING UNDER GST Further to my article An Overview of E-Invoicing Under GST, I have received a number of queries related to e-invoicing. In this article, an attempt has been made to compile all the Frequently Asked Questions and their answers suggested by the authorities on various forums. Article explains What […]

Canteen Facility To Employees Under GST

September 20, 2020 76419 Views 7 comments Print

1. The taxability of the ‘Canteen Facility’ to the employees is an area of dispute. It has become more confusing in the light of decisions held by Advance Rulings Authorities. In this article, an attempt has been made to analyze the taxability of canteen facility & ITC availability in a different scenario. 2. Scenario A: […]

An Overview of E-Invoicing Under GST

September 17, 2020 157950 Views 36 comments Print

1. Introduction: E-Invoice is a standard format of the invoice recommended by the GSTN for the GST registered suppliers. There is a myth or misconception that e-invoicing means the generation of invoices from a central portal of the tax department (GSTN Portal). 1.1 E invoice does not mean the generation of invoices from a central […]

Furnishing of First Return – Section 40 of CGST Act 2017

September 11, 2020 14190 Views 2 comments Print

GST SERIES – PART 30 1. The individual shall obtain GST registration within 30 days of becoming liable to obtain registration. On grant of registration, a taxable person is required to file his first return. 2. The effective date of Registration: Rule 10(2) The registration shall be effective from the date on which the person […]

GST on Transportation Services Provided To Employees

September 11, 2020 64791 Views 1 comment Print

GST On Transportation Services Provided To Employees 1. It is held by AAR Maharashtra in re of Tata Motors Limited [ 2020] that Input Tax Credit (ITC) is available on GST charged by the service provider on the hiring of bus/motor vehicle having a seating capacity of more than thirteen person for transportation of employees […]

GSTR 5- Furnishing of Return By Registered Non Resident Taxable Person

September 10, 2020 5691 Views 0 comment Print

Every registered non-resident taxable person shall furnish a return in FORM GSTR 5 electronically through the common portal, either directly or through a Facilitation Centre notified by the Commissioner, including therein the details of outward supplies and inward supplies and shall pay the tax, interest, penalty, fees or any other amount payable under the Act or the provisions of this Chapter within twenty days after the end of a tax period or within seven days after the last day of the validity period of registration, whichever is earlier.

GSTR 6 – Furnishing of Return By Input Service Distributors (ISD)

September 1, 2020 9387 Views 3 comments Print

Input Service Distributor (ISD):- Input Service Distributor is an office of a business that receives tax invoices for input services of the taxable purchases on behalf of other establishments/branches and distribute the Input Tax Credit ( ITC ) on such purchases to the concerned establishment / Branches.

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