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Whether Refund of Excess Payment of GST is Admissible where GST Collected & Paid at Higher Rate

CGST and IGST acts provides that every registered person is liable to pay tax on all intra state and inter state supplies of good and services and he shall accordingly collect and pay tax on such supplies as per provisions of act and rules, at notified rates. Sometimes, due to confusion, ambiguity regarding correct rate of tax applicable ...

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Whether Recovery of Expenses by Employers chargeable to GST – Divergent Advance Rulings

The Hon’ble AAR, Maharashtra in Re: Tata Motors Limited [GST-ARA-23/2019-20/B-46 dated August 25, 2020] held that w.e.f. February 1, 2019 input tax credit (“ITC”) shall be available to employer (Tata Motors) on GST charged by service provider on hiring of bus/motor vehicle having seating capacity of more than 13 persons for transpo...

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Videos on Goods Transport Agency services under GST

Multiple videos by CA Bimal Jain on ‘Goods Transport Agency (GTA)’ services under the GST law and its various nuances 1. Who will Pay GST on Goods Transport Agency (GTA) under RCM 2. When GTA need to take registration and What GST rates can be opted by GTA 3. GST Compliances on GTA Services under […]...

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Recent Updates in GST till 24th September 2020

E-invoicing is going to commence from 1st October, 2020 but now various industry bodies including MNC’s have sought its deferment at least till January, 2021 for want of proper preparedness , i.e. to develop requisites technical capabilities and festive season ahead....

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Valuation Under GST – Section 15 – CGST Act, 2017

Introduction In case of GST, tax is payable on ad-valorem basis i.e., percentage of value of the supply of goods or services. Thus, it becomes important to know how to arrive at the value on which tax is to be paid. Section 15 of the CGST Act prescribes the provisions for determining the value of […]...

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Role of Payment of consideration in availment of ITC under GST

Role of Payment of consideration in availment of Input tax credit (ITC) under GST Objective and scope: – 1. whether the consideration for any supply can be paid by any other person other than the recipient? 2.If consideration is paid by 3rd party i.e. someone else then whether credit\exemption is available to recipient though there ...

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Unveiling the GST Registration Free of Cost Process

GST was introduced in the year of 2017. However, it makes the taxation procedure easier, faster and more reliable than ever before, but still there are people who get confused about the same. Whether you are running a product-based or service-based business, you first need to get your GST registration process completed. This is the [&hell...

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Ways to get away from Late fee under GST

When a registered person delays filing his regular GST return before due dates, he will be liable to pay late fee under Section 47 (2) of CGST Act, 2017. The amount of late fee payable depends on the type of return to filed, no of days of delay and due date for filing such return....

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Job work procedure under GST with reference to E Way Bills

Job Work procedure under CGST Act 2017 with reference to E Way bill Rules 2018. Meaning of Job Work – When the owner of the goods (Principle) sends his goods to a different person  for carrying out certain process, which may or may not result in the change of the specifications of the product, that […]...

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Borrowing Decisions by States under GST Compensation Act

It is a known fact that the global pandemic of COVID-19 has brought grave losses to humanity as well as the tax collections this year as per the Government reports. Since the introduction of GST in 2017, the Union Government had promised a certain amount of their revenues as GST compensation to the states till the year 2022 to compe...

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