"A Chartered Accountant by Profession, with key attributes being Learning and doing Research. Currently , undergoing specialization in Indirect Taxation and related matters. "
The present article is an attempt to explain the concept of e-invoice, how it will operate. It is expected that the document will also be useful for the taxpayers, tax consultants and the software companies to adopt the designed standard. Is e-invoicing a system wherein taxpayers need to generate the invoices centrally or will the […]
Unadjusted part of mobilization advance received prior to July 01, 2017 held as taxable under GST The West Bengal AAAR vide its Order No. 11/WBAAAR/APPEAL/2019 dated 16.12.2019 uphold the advance ruling given by West Bengal AAR (Order No. 18/WBAAR/2019-20 dated 19.08.2019), wherein it was held that unadjusted part of mobilization advance received prior to July […]
‘E-invoicing’ is a measure vide which the invoices will be validated electronically through GSTN for further use on the common GST portal. It is a measure to bridge the gap in data reconciliation to reduce mismatch errors. However, it should be noted that this process is only an authentication measure and not an invoice generation […]
Issues under GST continue to seem like an albatross around neck of real estate developers as well as buyers. One such issue is taxability of Preferential Location Charges (PLC).
Only eligible ITC shall be considered for calculating the 20% restricted credit. Therefore, ineligible credits say under section 17(5) shall not be considered for calculating this 20% amount. The above eligible credit shall be in respect of invoices or debit notes the details of which have been uploaded by the suppliers under section 37(1) of the CGST Act, 2017 and is available in recipient’s GSTR-2A as on the due date of filing of the returns in FORM GSTR 1 of the suppliers for the said tax period.
The CGST Act, 2017 read with respective State GST Act(s), has been enacted with one of its main objectives being to ensure a continuous flow of input tax credit at each stage of value addition. In this regards, certain relevant provisions of the said Act have been produced below for reference.
