Goods and Services Tax - Page 20

Integrated Goods and Services Tax (Amendment) Act, 2018

No. 32 OF 2018 (30/08/2018)

Govt notifies Integrated Goods and Services Tax (Amendment) Act, 2018 to amend Section 2, 5, 8, 12, 13, 17 and Section 20 of Integrated Goods and Services Tax Act, 2017....

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Central Goods and Services Tax (Amendment) Act, 2018

No. 31 OF 2018 (30/08/2018)

Govt notifies Central Goods and Services Tax (Amendment) Act, 2018 to notify amendments in Central Goods and Services Tax Act, 2017. ...

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Guide for Treatment of different Business Transactions in GSTR 3B & GSTR 1

It has been A year of GST and we are still figuring out exact treatment of different business transactions like  Export, SEZ, Merchant Export, Import, Deemed Export etc In GST returns. These all items need to be specifically shown in GSTR 3B & GSTR 1 at respective rows. I have prepared a complete Guide for […]...

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Excel Tool For Checking Monthly Tax Data of GSTR 3B

Excel Tool For Checking Monthly Tax Data of GSTR 3B FOR FY 17-18 It’s been a year for GST returns and Now it’s season of finalizing books of accounts for 2017-2018 (Atleast for Tax Audit purpose) . The first and foremost thing is to make sure that every GST return must had been  Filled  properly. Same data […]...

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19 Suggestions on GST return forms by ICAI

Indirect Taxes Committee of ICAI submits Suggestions on GST Return formats to Finance Minister Arun Jaitley. Suggestion include Suggestion on Monthly Return and Quarterly Return and other issues faced by Taxpayers. ICAI highlighted that 1. Turnover figure to identify the type of taxpayer not be auto populated; 2. Term “Turnover” is no...

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Intelligence based Enforcement action- Tax payers allotted to Central Tax Authorities

CCT’s Ref. No. CCW/GST/74/2015 (23/08/2018)

It is noticed that the officers of the Department have been conducting audit of tax payers allotted to state authorities and whenever any modus operandi is noticed in evading tax in a particular trade, the audits are confined to State allotted taxpayers only leaving the tax payers allotted to central tax authorities unattended. This resul...

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GST Practitioner- Registration, Procedure, Examination, Documentation

With the introduction of Goods and Service Tax in India, crores of taxable persons have registered under GST and are now required to comply with various GST compliances. In order to make the compliance easy for businesses registered under GST, the Government has taken various initiatives such as GST Facilitation Centres and GST Practition...

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GST Audit and Reconciliation

With a year passed on after the implementation of GST and also the 1st financial year ended on 31st March, 2018, time is to be ready for filing of GST Annual Return and conducting GST Audit along with Reconciliation with books of accounts. GST is a trust based taxation regime wherein the registered dealer is […]...

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Persons Not Liable For Obtaining GST Registration

Section 23 of the Central Goods and Service Tax Act, 2017 deals with the provisions of persons who are not liable for GST registration. Section 23 (1) states that persons who are engaged in supplying goods or services or both that are not liable to be tax or persons who are engaged in supplying of goods or services or both that are wholly...

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Amendment in GST Registration

Hello friends, greetings for the day in the current  article we will discuss every aspect of amendment in the registration granted or the unique identification number and what is the procedure for amendment in the registration. Analysis Where there is any changes in the particulars furnished in registration application registered person ...

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Goods and Services Tax India

The Goods and Services Tax or better known as GST is a Value added Tax and is a comprehensive indirect tax which is levied on the manufacture, consumption, and sale of goods and services. The Goods and Services Tax in India would replace all the indirect taxes which are levied today on goods and services by the Central and the State governments. GST is intended to be comprehensive for most of the goods and services. Goods and Services Tax is a single indirect tax for the entire nation, which would make India a unified market. It is proposed to be a single tax on supply of goods and services, from a manufacturer to the end consumer. The credit of all the input taxes which are paid at each and every stage would be allowed in the following stages of value addition that makes GST basically a tax on value addition only at every stage. The end consumer would have to bear only the Goods and Service Tax which is charged by the final dealer within the supply chain, together with all the set-off benefits availed at previous stages.

At Taxguru, we provide all the latest GST news to our viewers. Our group of expert keep a close check on all the latest developments and provide a comprehensive analysis on GST updates. We keep updating our portal with articles on GST for the enlightening our readers. Bookmark us for all the GST articles and much more on GST.