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Summary Of Amendment In GST Of 23rd GST Council Meeting

GST Council has held it's 23rd GST Council Meeting in Aasam on 10th November,2017. In the meeting numbers of decision taken for providing relief to Taxpayer. Find the summary of amendment made in GST....

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Anti Profiteering Law In GST

Anti Profiteering is a check against profiteering – something which ought to be ethical but is now a legal issue in Goods and Service Tax....

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Pure Agent Concept and Relevance Under GST

Suppose Mr. A (supplier) provide professional services (professional fees ₹ 10000) and he make some expense (amounting ₹ 5000) on behalf of Mr. B (recipient), whether such amount recovered by Mr. A paid on behalf of Mr. B will be part of invoice value and whether GST will be charged on whole amount ( i.e. ₹ 15000)....

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Error in availing ITC through TRAN-1 & Solution Provided /Suggested

Service Tax No./Central Excise No./VAT/TIN is required to be added on the Business details Tab through Non-Core Amendment form through Non-Core Amendment form...

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Anti profiteering – unwrapping the gift to consumers

Much has been spoken about the controversial anti-profiteering measure adopted by the Government during the advent of GST. There have been nationwide disputes whether anti profiteering can be considered as a successful and a just measure by the Government. ...

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100 Issues & solutions in filing GST Returns & TRAN Forms

It is seen that industry, trade and professionals have been facing various issues in filing of GST Returns and transitional forms. Therefore, this article is written to provide as a ready reckoner to those involved in filing of GST returns to understand the issues and also solution to resolve the same. For ease of readers, the issues are ...

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Manual Procedure for filing Refund Under GST

Procedure of Manual filing of Refund under GST regime is mention in circular no. 17/2017 and Notification No. 55/2017 DT. 15/11/2017. Find below summarized procedure and required document for filing refund application in GST-RFD-01-A. Here below procedure is only for those who export goods/services using LUT/Bond, without payment of IGST...

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13 expenses on which Input Tax Credit is not available under GST

Negative List of Input Tax Credit under GST: Following expenses we can’t consider as input tax credit under GST. S.No. Nature of Expenses Exceptions 1 Motor Vehicle Expenses A) Dealer of Motor Vehicle If Service provider ( S.P.) and service receiver (S.R.), both are belong to same line of business ( Dealing in motor vehicle) […]...

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Five current issues in Goods and Services Tax

It is seen that based on the concerns raised by various exporters, government has immediately acted upon and created a mechanism in GST portal enabling exporters to claim refund of the taxes paid. ...

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Refundable Tax System

ABSTRACT In the modern world the indirect taxes take an essential part of Governments’ Tax Revenue. Various countries are following various types of Indirect Taxations like Sales Tax, Value Added Tax and Goods and Services Tax. In this situation, I am introducing a new Indirect Taxation concept which I have named as “Refundable Tax Sy...

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