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Ca. Mohit Goyal

Latest Posts by Ca. Mohit Goyal

GST: Payments of Taxes- Part III

May 30, 2017 8784 Views 2 comments Print

The electronic cash ledger under sub-section (1) of section 49 shall be maintained in FORM GST PMT-05 for each person, liable to pay tax, interest, penalty, late fee or any other amount, on the Common Portal for crediting the amount deposited and debiting the payment there from towards tax, interest, penalty, fee or any other amount.

GST: Payments of Taxes- Part II

May 29, 2017 6717 Views 1 comment Print

The electronic credit ledger shall be maintained in FORM GST PMT-02 for each registered person eligible for input tax credit under the Act on the Common Portal and every claim of input tax credit under the Act shall be credited to the said Ledger.

GST: Payments of Taxes- Part I

May 27, 2017 12519 Views 1 comment Print

Ledger Involved in GST Payment 1. Electronic Tax Liability Register- GST payable will be maintained in this register. 2. Electronic Credit Ledger- GST input available will be recorded in this ledger like-Purchase of goods & Services. 3. Electronic Cash Ledger- GST paid in Cash will be recorded in this ledger i.e. Liability- Input= Payable.

JOB Work, Consignment Sale, Stock Transfer, Inter Unit Transfer in GST

May 9, 2017 39894 Views 3 comments Print

Stock transfer of goods between two states would be liable to IGST. Stock transfer of goods between two business verticals in the same state where separate registration has been taken for each business vertical would be liable to CGST/ SGST

GST: Treatment of supplies to and by SEZ units/SEZ developers

May 9, 2017 53292 Views 20 comments Print

As per the IGST Law, supplies of goods and services to or by Special Economic Zone (SEZ) units or SEZ developers will be treated as inter-State supplies. As per the SEZ Act, supply of goods from SEZs are treated as import of goods into India. Accordingly Basic Customs Duty (BCD) & Integrated GST will be […]

Electronic or e-Way Bill under GST

May 8, 2017 3843 Views 0 comment Print

Electronic Way Bill  >Information to be furnished prior to commencement of movement of goods and generation of e- way bill Conditions: Every registered person, movement of goods , consignment value> Rs.50,000. > Scenario: in relation to a supply; or for reasons other than supply; or due to inward supply from an unregistered person > Requirements to […]

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