GST articles

Received Notice or Order from GST Department? Try to find out what it is…

♦ INTRODUCTION Assessment means determination of tax liability. There are several types of assessments in the GST regime i.e., self-assessment, provisional assessment, summary assessment and best judgment assessment. Under GST, an assessee is first required to self- assess his tax liability and furnish returns for declaring the taxable ...

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Dynamic QR Code under GST

146/02/2021 AND 156/12/2021 21/06/2021

1. Applicability of Dynamic Quick Response Code (QR) Dynamic Quick Response Code QR is applicable whose aggregate turnover exceeds Rs 500 crores rupees in any of the financial year from 2017-18 onwards. Exclusions: – Supplier of taxable services i. An insurer or a banking company or financial institution, a non- banking financial c...

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The curious case of Credit Notes under GST

There is no denying that GST was meant to be an easy law, easy to comprehend and easy to understand. With four years and plus of the GST law, we still have issues where the portal and the law don’t seem to go hand in hand. One such issue is in respect of credit notes. […]...

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Penalty not justified where E way bill was generated against Invoice Number instead of Bill of Entry

Bacardi India (P) Ltd. vs. Commissioner State Tax (Joint Commissioner (Appeal), State Tax, Haldani)

Bacardi India (P) Ltd. vs. Commissioner State Tax (Joint Commissioner (Appeal), State Tax, Haldani); Appeal Number: 24/2020; Date of Decision: 21/11/2020 Uttarakhand GST Appellate authority sets aside penalty order under section 129 for minor error in e waybill. In the E way bill Invoice Number was mentioned instead of Bill of Entry numbe...

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Sale of Land and Sale of Developed Plot of Land under GST

Dear Colleagues, Good day to you. I have received queries relating to ‘Real Estate Sector’. Particularly they are asking doubts on ‘Sale of Land and Sale of Development Plot’ under GST Law. Here I wrote an article to clarify our Colleagues doubts on the above subject at my best of knowledge. Real Estate Sector is [...

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GST payable at the time of transfer of possession/ rights in the building to person supplying development rights

GST payable at the time of transfer of possession/ rights in the building to person supplying development rights In Re: M/s. Vajra Infracorp India Private Limited [TSAAR Order No.03/2021 decided on July 19, 2021] wherein the assesee is provider of taxable services of construction of residential complexes. The assessee entered into a suppl...

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Levy of GST on immovable property including transfer of development rights

Introduction Article 366 of the Constitution defines Goods as “Goods includes all materials, commodities and articles” and Services as “Service means anything other than goods. Goods and Service Tax (hereinafter referred as ‘GST’) is a destination based Tax which is based on the destination or consumption of the goods or service...

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Treatment of Discounts under GST – A Study

Treatment of Discounts under GST – A Study Discounts are an integral part of business. Offering trade, cash post-sale discounts are very common in business. Business generally offer trade discounts to increase sales, while cash discounts are given to recover payments quickly and Post-Sale discounts are given if certain targets are achie...

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Burning Questions in GST with analysis of latest Judgements ( Part-I)

Introduction After four years of implementation of GST, many questions of law are yet unanswered. As Supreme Court of India has noted, ‘Laws must evolve with the times if societies are to progress’. There are many issues in GST which either requires judicial intervention or some concrete action from Parliament. In this article...

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E-Invoice Schema Format – Mandatory Fields

On 30th July 2020 the Central Board of Indirect Taxes and Customs (CBIC) released a notification and introduced the “Schema for E-Invoice” for imposing the e-invoicing. It will be implemented from 01st October 2020, only for entities whose business having a annual turn over of ₹500 Cr. What is E-Invoicing? E-Invoicing or Electronic ...

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August 2021