GST

Calculation of Interest on Liability of GST

Goods and Services Tax - Article explains Calculation of Interest on GST liability  in following situations- 1. Reduction in GST liability reported in GSTR 1 but correspondingly not reported by the recipient and discrepancy is not rectified by the supplier; 2. Any reduction in output tax liability that is found to be on account of duplication of claims; 3. Failu...

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PPT on Reversal of Input tax credit (‘ITC’)

Goods and Services Tax - Pre-requisites for claiming ITC Section 16 of CGST Act, 2017 Possession of documents prescribed; Received the goods/services; Tax has been paid to the government; Return has been filed on time by recipient Provided the payment has been made to the supplier of goods or services within 180 days from the date of invoice; (In case […]...

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GST on Commission earned in India from Foreign Entities in Convertible Foreign Exchange

Goods and Services Tax - The person earning the commission will falls under this definition. As per IGST Act, Sec. 13(8) - The place of supply of the following services shall be the location of the supplier of services, namely:–...

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Self Verification of GST before Statutory Audit

Goods and Services Tax - How you verify GST before Statutory Audit? Verification of Outward Supplies (i.e. Payable side): 1. Check the Credit side of the Statement of Profit and Loss (SPL) in order to track the items which are chargeable to GST. Even, some amounts of credits have also been credited to Expenses account which is to be deeply […]...

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Value of supplies in certain cases under GST Regime

Goods and Services Tax - a) Be the open market value of such supply; b) If the open market value is not available under clause (a), be the sum total of consideration in money and any such further amount in money as is equivalent to the consideration not in money, if such amount is known at the time of supply;...

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Updated Central Goods and Services Tax Rules, 2017 till 13.06..2018

Goods and Services Tax - This article have updated Central Goods and Services Tax Rules, 2017 which were initially released on 19th June 2017 and amended by various notifications issued from time to time.  CGST Rules are updated with notifications issued till 13th June 2018. Details of Initial and Subsequent Notifications :- S. No. Notification No. and Date Titl...

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GST: 9 steps to Change email & mobile no. of authorized signatory

Goods and Services Tax - Complaints are being received from taxpayers that the intermediaries who were authorized by them to apply for registration on their behalf had used their own email and mobile number during the process. They are now not sharing the user credentials with the taxpayer on whose behalf they had done the registration in the first place and the ...

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GST: Provision to give EGM No. of maximum 7 digits provided to tax payer

Goods and Services Tax - While  filing application of refund on exports of Goods and Services without Payment of Tax;  i.e. Accumulated ITC, Provision to give EGM number of minimum 1 digit to  maximum 7 digits has been provided to the taxpayers. ...

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Updated E-Handbook on GST Amendments

Goods and Services Tax - E-Handbook on GST Amendments has been specifically designed to provide an in-depth knowledge of various aspects/provisions under GST which has undergone changes impeccable for smooth implementation of GST vide Notification, Circulars, Orders. ...

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Updated E-Handbook on Job work under GST

Goods and Services Tax - ICAI has come up with the revised E-Handbook on Job-work under GST. This handbook is designed to provide an in depth knowledge about detailed and thorough study of the procedure, conditions and restriction for supplying goods to job worker, provisions relating to removal of inputs / semi-finished goods/capital goods by principal to a job ...

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‘Part B’ of GST e-way bill- not required if distance is less than 50 KM

Rivigo Services (P.) Ltd. Vs State of U.P. (Allahabad High Court) - Brief facts of the case are that the petitioner is a registered company having its registered office at Gurugram, Haryana. The petitioner company is also registered under the GST Act, 2017 and is carrying on business of transportation of goods from one place to another. ...

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Goods transported within a distance of 50 km cannot be seized for non filling of Part B of E-Way Bill

S.B.G.C Logistics Vs State of U.P. (Allahabad High Court) - S.B.G.C Logistics Vs State of U.P. (Allahabad High Court) In view of the decision taken by the Government that if the goods are transported within a distance of 50 km in the case of intra-state transaction, there is no requirement to fill up ‘Part B’. Notification no.12 of 2018 dated 07....

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Make appropriate changes in GST portal to enable petitioner to comply with statutory requirements: HC

St. Josephs Tea Company LTD Vs Chief Commissioner Central GST & Central Excise (Kerala High Court) - HC directs to make appropriate changes in the portal so as to enable the petitioner to comply with the statutory requirements for the period prior to 09.03.2018 also, within ten days...

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Non GST payment with bid fee to procure a tender makes bidder ineligible to bid

Nila Infrastructure Limited vs. Surat Municipal Corporation (Gujarat High court) - Nila Infrastructure Limited vs. Surat Municipal Corporation (Gujarat High court) Non-payment of GST along with the bid fee to procure a tender would amount to non-compliance with the remittance of bid fee – bidder would be liable for disqualification- Gujarat High court FULL TEXT OF THE HIGH COURT...

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GST AAR Ruling- Whether Pulses, processed dry fruits / Spices, Cereal are agriculture produce?

In re M/s. Guru Cold Storage Private Limited (AAR Gujarat) - The applicant, M/s. Guru Cold Storage Pvt. Ltd., has referred to notification No. 11/2017-Central Tax (Rate) dated 28.06.2017, which inter-alia provides rate of tax as NIL for 'support services to agriculture, forestry, fishing, animal husbandry', and submitted that in their opinion,...

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GST: Assam issues Guideline for ‘Mobile Squads’

Order No. CT/GST-12/2017/51 - (12/06/2018) - For verification of e-way bill in course of movement of goods by a conveyance and to carry out inspection, search and seizure at the place of business of a taxable person and a transporter for the purpose of preventing evasion of tax, it is felt necessary to have 'Mobile Squads'....

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GST FAQs on Services to SEZ and by fabric processors (job workers)

F. No. CBEC/20/16/03/2017-GST - (14/06/2018) - FAQs on hotel and accommodation services etc. to SEZ / SEZ Developers and refund of unutilized input tax credit to independent fabric processors (job workers)...

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Exempt GST on reinsurance services to exempt Govt Sponsored Insurance Schemes

F. No.10/Representation/Govt.Scheme/GSTC/2018/Pt. - (04/06/2018) - The Secretary General, General Insurance Council, Mumbai vide his letter dated 04.05.2018 has requested to exempt GST on reinsurance services provided for exempted Government Sponsored Insurance Schemes which are listed as below:...

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Continue clearing pending IGST Refund even after 16th June: CBEC Chairman

DO.No.24/CH(EC)/2018 - (15/06/2018) - CBIC Chairman request all zones who have not been able to reach zero pendency for IGST Refund to continue to work with same enthusiasm to clear all claims pre April even post 16th June....

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Delhi GST: Intra-state e-way bill w.e.f 16/06/2018 for value above Rs 100000

F. No. 3(163)/Policy-GST/2018/298-30 - (15/06/2018) - With effect from the 16th day of June, 2018 No e-Way Bill in respect of movement of goods originating and terminating within the State of Delhi (intra-State movement but without passing through any other State) shall be required where the consignment value does not exceed Rs.1,00,000/- (rupees one l...

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Recent Posts in "GST"

Calculation of Interest on Liability of GST

Article explains Calculation of Interest on GST liability  in following situations- 1. Reduction in GST liability reported in GSTR 1 but correspondingly not reported by the recipient and discrepancy is not rectified by the supplier; 2. Any reduction in output tax liability that is found to be on account of duplication of claims; 3. Failu...

Read More

PPT on Reversal of Input tax credit (‘ITC’)

Pre-requisites for claiming ITC Section 16 of CGST Act, 2017 Possession of documents prescribed; Received the goods/services; Tax has been paid to the government; Return has been filed on time by recipient Provided the payment has been made to the supplier of goods or services within 180 days from the date of invoice; (In case […]...

Read More

Updated Central Goods and Services Tax Rules, 2017 till 13.06..2018

This article have updated Central Goods and Services Tax Rules, 2017 which were initially released on 19th June 2017 and amended by various notifications issued from time to time.  CGST Rules are updated with notifications issued till 13th June 2018. Details of Initial and Subsequent Notifications :- S. No. Notification No. and Date Titl...

Read More

GST: Assam issues Guideline for ‘Mobile Squads’

Order No. CT/GST-12/2017/51 (12/06/2018)

For verification of e-way bill in course of movement of goods by a conveyance and to carry out inspection, search and seizure at the place of business of a taxable person and a transporter for the purpose of preventing evasion of tax, it is felt necessary to have 'Mobile Squads'....

Read More

GST: 9 steps to Change email & mobile no. of authorized signatory

Complaints are being received from taxpayers that the intermediaries who were authorized by them to apply for registration on their behalf had used their own email and mobile number during the process. They are now not sharing the user credentials with the taxpayer on whose behalf they had done the registration in the first place and the ...

Read More

GST FAQs on Services to SEZ and by fabric processors (job workers)

F. No. CBEC/20/16/03/2017-GST (14/06/2018)

FAQs on hotel and accommodation services etc. to SEZ / SEZ Developers and refund of unutilized input tax credit to independent fabric processors (job workers)...

Read More

Exempt GST on reinsurance services to exempt Govt Sponsored Insurance Schemes

F. No.10/Representation/Govt.Scheme/GSTC/2018/Pt. (04/06/2018)

The Secretary General, General Insurance Council, Mumbai vide his letter dated 04.05.2018 has requested to exempt GST on reinsurance services provided for exempted Government Sponsored Insurance Schemes which are listed as below:...

Read More

GST: Provision to give EGM No. of maximum 7 digits provided to tax payer

While  filing application of refund on exports of Goods and Services without Payment of Tax;  i.e. Accumulated ITC, Provision to give EGM number of minimum 1 digit to  maximum 7 digits has been provided to the taxpayers. ...

Read More

Continue clearing pending IGST Refund even after 16th June: CBEC Chairman

DO.No.24/CH(EC)/2018 (15/06/2018)

CBIC Chairman request all zones who have not been able to reach zero pendency for IGST Refund to continue to work with same enthusiasm to clear all claims pre April even post 16th June....

Read More

Delhi GST: Intra-state e-way bill w.e.f 16/06/2018 for value above Rs 100000

F. No. 3(163)/Policy-GST/2018/298-30 (15/06/2018)

With effect from the 16th day of June, 2018 No e-Way Bill in respect of movement of goods originating and terminating within the State of Delhi (intra-State movement but without passing through any other State) shall be required where the consignment value does not exceed Rs.1,00,000/- (rupees one lakh only)....

Read More
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