Simplified GST Series- Section 35-36 /CGST ACT 2017– Part 17 – Article explains Section 35- Accounts and other records and Section 36-Period of retention of accounts. Section 35- Accounts and other records- (1) Every registered person shall keep and maintain, at his principal place of business, as mentioned in the certificate of registration, a true […]
Simplified GST Series -Section 31-34/CGST ACT 2017/PART-16- Article covers Section 31- Tax Invoice under GST, Section 31 A- Facility of digital payment to recipient, Section 32- Prohibition of unauthorised collection of tax, Section 33- Amount of tax to be indicated in tax invoice and other documents under GST and Section 34- Credit and debit notes […]
Simplified GST Series-Part 15- Contains Analysis of Section 26 to 30 of Central Goods and Services Tax Act, 2017. Section details are as follows- Section 26 – Deemed Registration, Section 27- Special provisions relating to casual taxable person and non-resident taxable person, Section 28-Amendment of Registration, Section 29- Cancellation or Suspension of registration and Section […]
Article explains Section 24 and Section 25 of CGST ACT 2017 related to Compulsory GST registration in certain cases and Procedure for GST registration.
Article Simplifies Provisions of Section 22 and Section 23 of CGST Act 2017 which deals prescribes Persons liable for GST registration and Persons not liable for registration. Section 22 – Persons liable for GST registration – (1) Every supplier shall be liable to be registered under this Act in the State or Union territory, other […]
Section 19 to Section 21 CGST ACT 2017 –Simplified GST Series -Part-12 Section 19– Taking input tax credit in respect of inputs and capital goods sent for job work-Simplified (1) The principal shall, subject to such conditions and restrictions as may be prescribed, be allowed input tax credit on inputs sent to a job worker […]
Section 18- Availability of credit in special circumstances -Simplified (1) Subject to such conditions and restrictions as may be prescribed- (a) A person who has applied for registration under the Act within thirty days from the date on which he becomes liable to registration and has been granted such registration shall, be entitled to take […]
The input tax credit eligibility is based on the fact as to whether the goods or services or both are used for taxable supplies or exempt supplies. Where the goods or service or both are used for both taxable and exempted supplies, only proportionate credit is allowed to a registered person.
GST Series Simplified -Section 16- Eligibility and conditions for taking input tax credit – Input tax credit is backbone of GST ACT so it is very broad concept, I will try to discuss it in a very simplified manner. Section 16(1)- Every registered person shall, subject to such conditions and restrictions as may be prescribed […]
Section 15- Value of Supply – (CGST Rules 27-35 ) Today I will discuss provisions of Section 15 – At what value GST is to be levied??? 15(1)- The value of a supply of goods or services or both shall be the transaction value, which is the price actually paid or payable for the said […]
