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Ca Vandana Patil

Latest Posts by Ca Vandana Patil

Relief to service suppliers under new GST Composition Scheme

April 25, 2019 2805 Views 0 comment Print

Quarterly tax payment and annual filing of return for taxpayers availing the benefit of Notification No. 02/2019– Central Tax (Rate) {N/N 21/2019 -CT dt 23/04/2019} Notifies the registered persons paying tax under the provisions of section 10 of the said Act or by availing the benefit of notification of the Government of India, Ministry of […]

Composition taxpayer U/s. 10 & Composition as per N/N 2/2019 -CT(R)

April 25, 2019 4161 Views 1 comment Print

Differences between Composition taxpayer as per section 10 of Central Goods and Services Tax Act, 2017 & Composition as per Notification No. 2/2019 -Central Tax (Rate) dated 07th March 2019. SI.No Composition scheme for all Composition scheme for supplier of service 1 Applicable as per sec 10 of the CGST act Applicable as per Notification no […]

Transfer of ITC in case of death of sole proprietor

April 6, 2019 9138 Views 3 comments Print

Whether section 18(3) of the CGST Act 2017 provides for transfer of input tax credit which remains unutilized to the transferee in case of death of the sole proprietor. As per rule 41(1) of the CGST Rules, 2017, the registered person (transferor of business) can file FORM GST ITC-02 electronically on the common portal along with a request for transfer of unutilized input tax credit lying in his electronic credit ledger to the transferee. Also the procedure for filing of return in case of death of a sole proprietor needs clarity.

Recent outcome of 32nd GST council meet

January 11, 2019 4407 Views 4 comments Print

Happy New Year 2019 ! With the very first GST council meet of this year some favorable and important decisions taken in its 32nd GST council meet held on 10th Jan 2019 they are as follows – Threshold limit increased to 40 Lakhs– Effective from April 1, the GST exemption threshold has been raised from […]

GST Implication on return of expired medicines / drugs

December 4, 2018 17010 Views 1 comment Print

As per recent circular clarification via Circular No. 72/46/2018-GST dated 26th October, 2018 The procedure to be followed in respect of return of time expired drugs or medicines under the GST laws. The drugs or medicines are sold by the manufacturer to the wholesaler and by the wholesaler to the retailer on the basis of […]

An analysis on issue of ‘tenancy rights’ taxable under GST

September 18, 2018 16956 Views 10 comments Print

Whether transfer of tenancy rights to an incoming tenant, consideration for which is in form of tenancy premium, shall attract GST when stamp duty and registration charges are levied on the said premium?

GST: Schedule I – Principal & Agent relationship clarified !

September 7, 2018 39747 Views 2 comments Print

CBIC has issued a clarification on ambiguity created by the clauses as in Sch I regard to principal agent relation via Circular no 57/31/2018 -GST dt 04/09/2018

Recommendations of 28th GST Council Meeting- Whats good & whats not

July 23, 2018 4137 Views 0 comment Print

The major recommendations are as detailed below:- 1. Composition dealers:- Upper limit of turnover for opting for GST composition scheme to be raised from Rs. 1 crore to Rs. 1.5 crore. Present limit of turnover can now be raised on the recommendations of the Council. > Composition dealers to be allowed to supply services (other than […]

Margin Scheme under GST – What is it all about?

June 30, 2018 11226 Views 4 comments Print

Introduction GST is levied on any activity that falls under the ambit of ‘Supply’ as per section 7 of CGST act, normally the GST is charged on the transaction value of the goods as determined by applying sec 15 of CGST act. However, in respect of second hand goods, a person dealing is such goods […]

Reverse Charge u/s 9(4) of CGST act applicability extended !

June 30, 2018 29106 Views 2 comments Print

The awaited applicability of section 9(4) of CGST Act, section 5(4) of IGST Act & Section 7(4) of UTGST Act which was exempted earlier till 30.06.2018 has been now further extended again via  notification  given below till 30.09.2018. The exemption contained in this notification shall apply to all registered persons till the 30th day of […]

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