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 : The issue is whether renting of immovable property is taxable under GST. The key takeaway is that residential renting may be exemp...
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 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...
Goods and Services Tax : Understand how to manage inadvertently rejected invoices, debit notes, and credit notes on IMS, including ITC claims for recipient...
Q.1 Advance was given when rate was 28%, and our vendor has paid tax on it. Subsequently rate has fallen to 18%. Will the invoice will be raised at 18% ? If yes, what to do of additional 10% paid as advance? Ans: Assuming supply happended after the change in tax rate, the time of supply […]
Issue: Payment up to Rs. 50,000 to be allowed through cheque instead of current provision of Rs. 10,000. Response: The Council deliberately decided to keep Rs. 10,000/- as limit for payment through ‘over the counter mode’ of payment. The same has been decided in the line with the view of Government to minimize cash transactions and encourage digital Transactions.
Questions 1. Sir I have started my firm under proprietorship but due to some reason I wanted to transfer my ownership but I could not due to new GST law it can not, kindly let me know what can be done ? Answer: You can transfer your business and as per sec 22(3) of CGST Act, […]
I have submitted Bank guarantee and bond for export purpose. Now as per notification no. 37/2017- Central Tax, I am eligible to export under LUT. When can I take back BG & bond and instead submit LUT?
Question No. 1: I am restaurant owner and also have supply of some other services worth Rs. 1 lakh. Am I eligible for Composition scheme ? Answer: No. Please refer to Section 10 of CGST Act. Question No. 2: Challan for Job work in farm ITC-04 needs to be filed by 25th of next quarter. […]
Is ITC available on vehicle taken on lease for employee in a manufacturing company? No. It is not allowed as per section 17(5) of CGST Act, 2017.
Question 1: Is that compulsory to file gstr-1A even there is no corrections and where GSTR 1 already filled? Answer: GSTR-1A is auto-populated from GSTR-2A. Procedure for filing of GSTR-2 and 3 has been kept in abeyance for the time being Special session by GST policy wing’s officers to address queries of all stake holders […]
Chapter I – Preliminary: 1. Whether GST law is applicable in J&K? Yes. CGST and IGST act were made applicable in J&K from 8th July, 2017 through respective ordinances. J&K GST Act was also passed and made applicable from this date (Act is on same lines as other State GST Acts). 2. Whether General Clauses […]
1. I want to take a Registration as a Casual Taxable Person but I cant find the option. The option to register is in the New Registration Application for a normal taxpayer. In PART A of the New Registration Application, select Taxpayer (Reference screenshot (highlighted in red)):
Question 1: Is it compulsory to put HSN code wise details in GSTR 2? Answer: Pl see instruction no. 16 below GSTR-1 and no. 14 below GSTR-2. Question 2 : Is there Any notifications for converting from regular to Composition scheme, as it available in the portal.Can Now we convert from regular dealer to Composition […]
