Major Concepts in E-Way Bill Concepts of Acceptance , Rejection and Updating of E-Way Bill E Way Bill introduces a sense of urgency in the process of movement and promptly recording the transactions. (A) Acceptance & Rejection Rule 138(12) of CGST Rules 2017 as updated 9th October 2019 talks that Where the person to whom […]
SECTION 51 : CHAPTER X :PAYMENT OF TAX OF CGST ACT , 2017 1. TDS under GST will be applicable from 1st October 2018. Major Heads of Taxes under GST are CGST, SGST & IGST .In addition, as per the GST law, certain categories of registered persons will be required to deduct taxes while making […]
20% CAPPING OF ELIGIBLE CREDIT IN GSTR 2A Amendment to Rule 36(4) Of CGST Rules 2017 Vide Notification No. 49/2019 – Central Tax 09-10-2019 on 20% ITC Restriction Guided by Circular No. 123/42/2019– GST 1) Ques :What is 20% Restriction on ITC as per Notification No 49/2019 ? Ans :Input tax credit to be availed […]
ANALYSIS ITC CAPPED BY 20% OF ELIGIBLE ITC OF GSTR 2A CBIC by Notification No. 49/2019 – Central tax – dated 09 October, 2019 it has placed a cap on availment of Input Tax Credit (‘ITC’) to the extent to 20% of eligible input invoices or debit notes. TABLE FOR ABOVE UNDERSTANDING Sr. No Particulars […]
1. Ever wondered Being a seller what is the application of GST on such offers? 2. Whether Only on one Item GST is to charged or Both 50%-50%? 3. Whether both are provided for a single price? 4. Price of one is being charged and other is provided free? 5. What Rate it is to […]
An attempt to put some light on the proposed GST System, And Integrated In-Built Matching has been made as under :- Matching tool will be provided to match Inward Supplies & ITC Thereon. Note : Matching tool can be used by the recipient to match the auto-drafted details of GST ANX-2 with their own purchase register. […]
1) Definition of Audit under the CGST Act 2017 Section 2(13) of the CGST Act 2017 States that 2(13) ‘audit’ means ( Exhaustive Definition) 1) the examination of records, 2) returns and 3) other documents maintained or furnished by the registered person under this Act or the rules made thereunder or under any other law […]
Most Important Points While Credit Selling (Receivables Management Policy) Receivables Form One of the major part and backbone of the Business be it any time whether Trader , Manufacturer & Service Provider, This is about how to place an effective credit management policy and will give the readers an inner dive into the why Credit […]
Article explains Registration Procedure Taxation of Partnership Firms /LLP which includes Income Tax Rate applicable and Provisions related to -Interest and Remuneration to Partners/Designated Partners, Conditions for assessment as a firm, Partners’ assessments, Losses of the firm. -Due dates for filing return of firm, Allowability of remuneration and interest vis-a-vis presumptive . -ITR Filing For […]
GST implication on Youtubers / Bloggers / Consideration Received Via Google AdSense Hello Here we will Give a Relevant Coverage to GST implication on Money Earned Via YouTube /Bloggers by Way of Advertisement on their Websites/Videos/Blogs – Supply As per section 7 of CGST act 2017 (1) For the purposes of this Act, the expression […]
