Goods and Services Tax : The issue concerns confusion regarding the purpose and sequencing of GSTR-1 and GSTR-3B filings. The key takeaway is that GSTR-1 s...
Goods and Services Tax : ICAI clarified that ITC wrongly reversed under Table 4(B)(1) instead of Table 4(B)(2) can still be reclaimed within statutory time...
Goods and Services Tax : The article explains that architectural, accommodation, and related immovable property services are governed by Section 12(3) of t...
Goods and Services Tax : Understand the mandatory GST compliances when closing a business, including return filing and tax on stock. The guidance clarifies...
Goods and Services Tax : IGST refunds are not available when exports are made under LUT/Bond without tax payment. The clarification highlights eligibility ...
Goods and Services Tax : Learn how to report issues or ask questions about not receiving GST rate change benefits. Contact the National Consumer Helpline (...
Goods and Services Tax : The Ministry of Finance issues FAQs clarifying new GST rates on medicines, drones, bricks, and insurance. Learn about changes to h...
Goods and Services Tax : Key FAQs on GST rate changes from the 56th GST Council, covering goods, services, vehicles, and exemptions effective from 22 Septe...
Goods and Services Tax : Understand GST rules for restaurant services in 'specified premises' post-April 2025. Learn about tax rates, declarations, and ITC...
Goods and Services Tax : Functionality for Aadhaar Authentication and e-KYC where Aadhaar is not available, has been deployed on GST Common Portal w.e.f. 6...
Goods and Services Tax : GSTN has clarified mandatory Ship-to GSTIN requirements, API changes and voluntary e-Way Bill closure before the proposed 1 August...
Goods and Services Tax : GSTN has clarified key issues on filing annual returns through consolidated FAQs. The guidance explains ITC reporting, auto-popula...
Goods and Services Tax : ITC availed for FY 2023-24 but reversed or claimed in FY 2024-25 must be reported in Table 6A1 of GSTR-9. Reversals from prior yea...
Goods and Services Tax : A new facility in Invoice Management System (IMS) has been introduced on GST portal wherein taxpayers are allowed to keep credit n...
Goods and Services Tax : Taxpayers cannot file GSTR-9 for FY 2024-25 unless all GSTR-1 and GSTR-3B returns are completed. Auto-population of relevant table...
FAQs of GSTR-7 Offline Utility 1. Can I file complete Form GSTR-7 using Offline Utility? No. Filing of Form GSTR 7 can take place only online on the GST Portal. Using Offline Utility, you will be able to prepare details of Table 3 and Table 4 (in offline mode) but remaining activities for filing Form […]
Article Answers 1. Who needs to register under GST as a TCS? 2. How can register as TDS or TCS? 3. Are there any preconditions I must fulfill before registering with GST as a TDS or TCS? 4. Do I get registered automatically after submitting the registration application along with the prescribed documents?
1. What should I do if I don’t have ‘Transporter Id’ but want to enter and generate ‘Part-A slip’? This is not possible as per rule 138(3). If the tax payer is not having the details of ‘Transporter Id’ but he still wants to enter and generate the ‘Part-A Slip’, then he has to compulsorily enter
As per Section 52(1) of the CGST Act, 2017, TCS is to be collected by an electronic commerce operator on the net value of taxable supplies made through it by other suppliers where the consideration with respect to such supplies is to be collected by such operator.
Who is required to deduct the TDS under GST (i.e. who is the deductor) ? As per Sec. 51(1) of the CGST Act, 2017 read with Notification No. 50/2018 – Central Tax dated September 13, 2018, following persons are required to deduct the tax:
Q.1 What are the opportunities available for Company Secretaries under Goods and Services Tax regime? Ans. Under Goods and Services Tax, a Company Secretary has the following opportunities: To act as a GST Practitioner Pursuant to Section 48 of CGST Act, 2017 read with Rule 83 of Central Goods and Services Tax Rules, 2017 (CGST […]
1. What is an ‘Anti-profiteering’ activity? The suppliers of goods and services should pass on the benefit of any reduction in the rate of GST on such supplies or the benefit of input tax credit to the recipient by way of commensurate reduction in prices. The wilful action of not passing of such above said […]
ICAI has come out with revised publication titled FAQ’s and MCQ’s on GST. It provides a comprehensive coverage of GST in easy to understand question answer format written in lucid language.
A. FAQs on Filing Application for Withdrawal of Summary Assessment Order and Tracking the Status of the Subsequent Proceedings u/s 64 1. What is Summary Assessment u/s 64? Summary Assessment u/s 64 is framed by an Adjudicating or Assessing Authority (A/A) to assess the tax due from the person in charge of the goods if […]
A. FAQs on GSTR-11 – Statement of inward supplies by persons having Unique Identification Number (UIN). Q.1 What is Form GSTR-11? Ans: Form GSTR-11 is to be filed by persons who have been assigned a Unique Identity Number (UIN). It is a statement of inward supply of goods or services or both received by an […]
