GST - Page 29

All about Dynamic QR code on GST B2C Invoice

Dynamic QR Code for B2C Transactions: B2C transaction means all the supplies made to unregistered person or consumers. B2C invoices are those invoices where the end user will not be claiming input tax credit. E-invoicing refers to a method of processing invoices in an electronic format and on a united platform between buyers and suppliers...

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Posted Under: CA, CS, CMA |

GST on Individual Advocates including Senior Advocates & Firm of Advocates

Advocates has privilege of not to pay GST on their output supply, while the taxes on their supplies has to be paid by recipient under Reverse Charge Mechanism (RCM). In this write up, I made a try to answer the questions related to GST on Advocate Services. ...

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Posted Under: CA, CS, CMA |

GST, Income Tax, DGFT, FEMA, Customs Updates dated 02.07.2021

Friends, “Commendable work has been done in the year gone by both in the area of facilitation and enforcement with numerous cases of fraudulent dealers and ITC being registered. The enhanced revenue collection in recent months should now be the ‘new normal.”- Hon’ble Finance Minister Nirmala Sitharaman. There are some other re...

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Posted Under: CA, CS, CMA |

GST – Must be on Track

GST was implemented with two major objectives – To remove the cascading effect and have seamless flow of credit in indirect taxes. In Pre-GST era, indirect taxes were suffering from tax on tax and weak chain of credit. To overcome all these hurdles and bring the indirect taxes into true spirits – GST was introduced […]...

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Posted Under: CA, CS, CMA |

Cross Charge under GST at the Crossroads

Cross charge, a term coined by the GST professional fraternity, is levied on the transaction between the Distinct persons as defined u/s 25(4) of the CGST Act, 2017. The relevant provisions that give force to this levy are Section-7,  Section 25(4), Section 15 read with rule 28 and entry no. 2 of Schedule I to […]...

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Posted Under: CA, CS, CMA |

Tax Compliance Calendar for July 2021

Article compliance dye date under Income Tax Law, GST Law and Labour Laws. Same includes due date for filing of Form GSTR-3B, GSTR-7, GSTR-8, GSTR-1, GSTR-6, GST CMP 08, GSTR-5, GSTR-5A (OIDAR Service Provider), GSTR 9, GSTR 9C, GSTR-4 and due of Furnishing Tax Audit Report for A/Y 2020-21. It further include due date of […]...

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Posted Under: CA, CS, CMA |

4 years of GST and still Unanswered Questions

Here are list of some Unanswered Questions related to GST, which You must have encountered  in last 4 years. Here it goes 1. Why Credit of CGST of other state not available in state in which Taxpayer is registered? 2. In refund in Export, Why ITC of CGST not allowed whereas ITC of Input services […]...

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Posted Under: CA, CS, CMA |

A Few Sticky/Tricky Issues In GST

Ever since its introduction in July 2017, the Goods and Services Tax ( GST ) Law has taken the center stage as far as taxation in India is concerned. Before its introduction, Income Tax Law used to be the subject matter of discussions and attracted more public attention Indirect taxes like Service Tax, VAT etc […]...

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Posted Under: CA, CS, CMA |

Major Initiatives taken in GST for facilitation of taxpayers in last 1 year

GSTR-3B Return related measures Quarterly return monthly payment (QRMP) scheme > To reduce compliance burden of the smaller taxpayers having aggregate turnover upto Rs. 5 Crore, Quarterly Return and Monthly Payment (QRMP) Scheme has been introduced w.e.f. 01.01.2021, wherein the taxpayers can file their return in FORM GSTR-3B as well a...

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Posted Under: CA, CS, CMA |

All India Common Representation on GST Amensty & Revocation Issue

ALL INDIA COMMON REPRESENTATION SUBJECT – To Increase Government GST Revenue and giving True Benefit of recent Amnesty Scheme SYNOPSIS OF ISSUE  – Recently in 43rd GST Council, Government has announced GST Amnesty Scheme for filing Tax Return from July 2017 to April 2021 with reduced late fees of Rs 500 / Rs 1000. However [&h...

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Posted Under: CA, CS, CMA |

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