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Representation on Post Sale Commercial Credit Notes for Price Reduction

Our submission is that if the supplier has not reduced its GST liability to the extent of the relevant amount, issuance of such commercial credit notes for price discounts do not result in any loss to the exchequer and a clearly worded notification saying that no tax liability will arise in such cases, either on the supplier or the recipi...

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21 Issues in GSTR-9, 9A & GSTR-9C and request to extend due date

Tax Bar Association requested to resolve issues in filing of GSTR-9, 9A & GSTR-9C and extend due date for filing GSTR-9, 9A & GSTR-9C for the year 2017-18. ...

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How to identify GST invoices not paid timely as per Rule 37 with excel

A detailed step by step approach to identify invoices not paid timely as per Rule 37 through excel spreadsheets for GST ANNUAL RETURN AND GST AUDITS...

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Aggregate Turnover Definition and Analysis under GST

The phrase aggregate turnover is widely used under the Gst laws. Aggregate turnover is an all-encompassing term covering all the supplies effected by a person having the same PAN....

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Implication of Change in GST Rate on Supply of goods or Services

Article discusses Implication of Change in the Rate of Tax (GST) In case the goods or Services or both have been supplied before the change in the rate of tax, In case the goods or Services or both have been supplied before the change in the rate of tax, In case the goods or Services […]...

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Unraveling GSTR 9- A clause by clause analysis- Part IV

As the India continues its winning streak against Pakistan in cricket world cups, the rush for filing GSTR 9 and GSTR 9C is also catching up, continuing the legacy of the first three parts, here we present the 4th and last part of our series of article, “Unravelling GSTR 9- A clause by clause analysis […]...

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GST on Overseas Tour Package- CBIC & GST Council needs to collect taxes legitimately

CBIC & GST Council: Suppress greed and collect taxes legitimately I sincerely believe every Indian wants to pay taxes legitimately & contribute to the nation building. I am also aware that Law is not a rational code & that it is an adage that the law is an ass & I am responsible for it. […]...

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Quick glance of treatment of sales promotion scheme under GST

There are lot of schemes to promote the sale, however the treatment of the sale promotion schemes under GST is very confusing and complex. in this article I have tried to enlighten on the issues raised in treatment of various sale promotion scheme such as applicability, taxability, input tax credit , valuation and etc. 1. […]...

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Pruning taxes for products in highest GST slab

India could review the goods and services tax (GST) structure to further prune the number of items in the highest slab of 28% as it attempts to stave off a slump in demand. Some states have favored a reduction in tax rates, worried that the slowdown may get entrenched, and have communicated their concern to […]...

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Credit note and Discount under GST, and its impact on ITC of recipient of goods or services

Credit note and Discount under GST, and its impact on ITC of recipient of goods or Services Credit note and discount is very common in all kind of business. In general parlance credit note and discount may have same meaning i.e reduction in effective cost to recipient of goods or services. However the act has […]...

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