Learn eligibility and steps to avail relaxation under Section 16(4) of the GST Act for ITC claims. Includes rectification application and process details.
SGBs are government securities expressed in grams of gold, allowing the individuals to invest in gold without the strain of safekeeping physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity. The Bond is issued by RBI on behalf of Government of India.
Article explains Practical difficulties faced by taxpayers and professionals in GST which includes Restriction on claiming ITC u/s 16 (4), GSTN portal doesn’t allows filing of application for restoration in Form GST REG 21 even after payment of Tax, No Separate column in GSTR 3B for previous year adjustments, Manual submission of certified copy of […]
Form GSTR 1 ♦ GSTR 1 shall contain the details of outward supplies and it shall be furnished monthly or quarterly as the case may be. ♦ Persons who have opted for QRMP scheme shall furnish GSTR 1 quarterly. ♦ Persons who have opted for QRMP scheme may furnish the details of B2B supplies (upto […]
Analysis of GST Rates on Job Work Few things which needs to be kept in mind before proceeding further 1. Do not take the meaning of job work in general sense The definition of Job work is specifically given in section 2 (68) of the CGST Act, 2017 which says that “Job work means any […]
GST on Joint development agreements (i.e Ratio deal) A. Taxability in the hands of landowner 1. Landowner will transfer development rights of his land to the developer for development of residential or commercial apartments. 2. In consideration for transfer of development rights, landowner can get payment, either in terms of money (i.e revenue sharing) or […]
