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Goods and Services Tax : Overview of GST e-invoicing rules, applicability thresholds, and time limits. Essential for businesses based on turnover and docum...
Goods and Services Tax : Registered persons can now self-invoice unpaid RCM GST from 2017-2024 and claim Input Tax Credit in November 2024, following recen...
Goods and Services Tax : Stay on top of GST compliance in April 2024 with our comprehensive calendar. Get essential information on filing frequencies, due ...
Goods and Services Tax : Stay updated with Tax Compliance Tracker for Income Tax and GST. This tracker provides due dates for various tax-related filings a...
Goods and Services Tax : Starting November 1, 2024, self-invoicing is mandatory for RCM transactions. Delays in issuance may lead to loss of ITC and penalt...
Goods and Services Tax : Mumbai court sentences former CGST Superintendent and his wife to 2-4 years in prison for possessing disproportionate assets. Tota...
Goods and Services Tax : AGFTC and ITBA urge the issuance of standardized guidelines for GST adjudication to enhance clarity, reduce litigation, and ensure...
Goods and Services Tax : The Second National Conference of GST Enforcement Chiefs focused on addressing fake registrations and enhancing compliance through...
Goods and Services Tax : CGST Thane invites EOIs for empanelment of Chartered and Cost Accountants for GST special audits. Submit by October 27, 2024....
Goods and Services Tax : Biometric-based Aadhaar authentication and document verification for GST registration in Kerala, Nagaland, and Telangana began on ...
Goods and Services Tax : Karnataka High Court quashed a show cause notice against Huida Sanitaryware, ruling dual proceedings under GST for the same issue ...
Goods and Services Tax : Allahabad HC ruled that non-submission of a show-cause notice reply is not valid grounds for GST registration cancellation, citing...
Goods and Services Tax : Madras High Court quashes the tax assessment order against Kandasamy Sivaprakash, citing lack of personal hearing and violations o...
Goods and Services Tax : Delhi High Court rules temporary business suspension due to health does not justify GST registration cancellation for M/s Maha Kub...
Goods and Services Tax : Rajasthan HC restrains coercive steps on GST registration during ITC blocking case. Court finds procedural concerns under CGST Rul...
Goods and Services Tax : October 2024 GST revenue report shows 8.9% growth in gross collections, led by increased domestic revenue. View detailed gross and...
Goods and Services Tax : New Aadhaar authentication process for GST registration in Ladakh. Book appointments for biometric verification and document verif...
Goods and Services Tax : TNGST Act Notification No. 3/2024 sets turnover limits for Deputy State Tax Officers, effective November 1, 2024, for assessment a...
Goods and Services Tax : CBIC initiates a program to enhance behavioral skills and sensitivity among 35,000 officers nationwide, alongside efforts in anti-...
Goods and Services Tax : From 2025, GST returns cannot be filed after three years from the due date. Taxpayers are advised to reconcile records and file pe...
GST AUDIT U/S 35(5), READ WITH SECTION 42(2), READ WITH RULE 80(3): SOME IMPORTANT DISCUSSIONS FOR GST AUDITOR FROM MY POINT OF VIEW: Meaning of Audit in GST law: According to Section 2(13), Audit means the examination of records, returns and other documents maintained or furnished by the registered person under this Act or the […]
Cross charges are nothing but a supply between: – Two or more offices/establishments of an entity or – Related companies enjoying common facilities. These charges may also be termed as a mechanism to allocate the value, as per the valuation rules and charge GST from the distinct/related persons. To emphasize, this concept ascended from the […]
Section 50 of CGST Act 2017, deals with Interest on delayed payment of GST tax. The same reads as under: (1) Every person who is liable to pay tax in accordance with the provisions of this Act or the rules made thereunder, but fails to pay the tax or any part thereof to the Government […]
Section 19 of CGST Act prescribes the provisions for taking input tax credit on inputs and capital goods sent out for job work. Let’s discuss the same here. 1. A principal who sends out inputs or capital goods to the job worker for job work purpose is entitled to take input credit on such inputs […]
What is GST Audit? Audit is examination of records, returns and other documents maintained or furnished by the registered person under GST Law or any other law. The examination is to verify the correctness of: Turnover declared; Taxes paid; Refund claimed; and Input tax credit availed; And to assess his compliance with the provisions of […]
printing of picture fall under service code 998386: photographic and video graphic services and not under 998912:Printing and reproduction services of recorded media, on a fee or contract basis and hence printing of picture will attract GST @18% as per Notification 11/2017-CT (R) dated 28.06.2017.
s per the provisions of Section 73(5) of the CGST Act, 2017, where any GST has not been levied or paid or has been short levied or short paid or erroneously refunded, the person, chargeable with the GST , may pay the amount of such duty before service of notice on him under sub section (1) of Section 73 and inform the GST officer in writing in terms of sub section (5) of section 73 , who, on receipt of such information shall not serve any notice in respect of the amount so paid;
Check list for Audit of Traders 1. INVOICING PATTERN: 1. Whether the invoice issued contains all the information prescribed in Rule 46 of CGST Rules and is being numbered accordingly 2. Whether revised invoice or credit note or debit note issued contains all the information prescribed in Rule 53 of CGST Rules 3. Whether the […]
CHECK LISTS FOR COMPOSITE DEALER which includes To check whether turnover is under prescribed limit or not as P & L account provide turnover of all business related to a PAN, To check Break up of Sales/Revenue from operations with regard to income from Supply of Goods or Services with regard to study of exclusion […]
Some Accounting Entries in Financial Books under GST : PART-1 According to Section 35(1), Registered persons have to keep and maintain the Accounts and Records of (a) production or manufacture of goods; (b) inward and outward supply of goods or services or both; (c) stock of goods; (d) input tax credit availed; (e) output tax […]
