Glimpse of TDS Provision under the GST Act – Revised

Views: 173   The provisions relating to tax deduction at source is contained in section 51 of the CGST Act. From 1st of October the TDS provisions would be applicable vide Notification No. 50/2018 – Central Tax dated 13th September, 2018. This article deals with...

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What information should be filed in GSTR-9 return

Views: 441   All GST registered taxpayer must have to file GSTR-9 Annual Return. GSTR-9 returns consolidates the information furnished in the monthly/quarterly returns during the year. Let’s understand what information should be filed in GSTR-9 return. The following information is expected to be filed in...

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Updated Draft regarding Lapse of ITC Under GST Act

Views: 486 10 Highlights of Undated Draft Circular of August 2018 -354/290/2018-TRU regarding (Input Tax Credit) ITC to Lapse. The Tax Research Unit of CBIC has issued a draft circular to address the controversy arising due to lapse of credit in respect of fabrics vide...

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Six Compliance Tips for Aspiring Entrepreneurs

Views: 166 Aspiring Entrepreneurs : It’s a known fact that every startup is haunted with though complying with various regulations. One of the mistakes entrepreneurs or founders of an early-stage startup who are new to the business ecosystem does not understand the compliance requirement or...

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Will Composition dealer have to pay GST on advance receipts?

Views: 285 Today, we will understand the scenario of GST on advance received by a Composition Dealer. Provision under Section 10 of the CGST Act, cover a composition dealer which says that: Section 10 (1) Notwithstanding anything to the contrary contained in this Act but...

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Support Services of Agriculture,forestry,fishing etc.

Views: 282 There is a rumor prevailing in the market that GST law relating to farmer has been changed, w.e.f 01-06-2018, Farmer would be covered under GST law, according to which they required to get GST registration and liable to pay GST @18% on support...

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Snippet of 27th GST Council Meeting

Views: 493 Some key updates of 27th GST Council meeting held on 4th May 2018 1. GSTN Ownership Changing: Change in the Shareholding Pattern of GSTN: Currently 24.5% held by Central and States Governements each, Balance 51% by Non-Govt Institutions. In New System Central and...

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” Bill to Ship to ” for E-way Bill : CGST Rules

electronic way bill

Views: 327  Clarification issues by Government regarding ” Bill to Ship to ” for E-way Bill under CGST Rules, 2017   A number of representations have been received seeking clarifications in relation to requirement of e-Way Bill for “Bill To Ship To” model of supplies. In...

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Understanding the apportionment of Input Tax Credit

Views: 322 Some GST tax payers are facing difficulty is understanding the apportionment of Input Tax Credit (ITC). Given below is the method to understand it. 1. Method of Apportionment of Input Tax Credit in case of goods or services or both (other than capital...

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Clarification on filing of form GSTR-4 : Composition Dealer

Views: 392 Clarification on the manner of filing the Quarterly Return by Composition Dealers in FORM GSTR-4 Doubts are being raised about the manner of filing the quarterly return by composition dealers in FORM GSTR-4. In particular, there is a doubt with respect to the instruction...

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