Will Composition dealer have to pay GST on advance receipts?

Views: 107 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: 151 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: 341 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: 249  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: 212 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: 278 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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How GST effect you on day to day life?

Views: 110 You need be a tax expert to know basics of GST. In fact you are duty bound as business owners, executives, accountants etc. to know the basics of GST because GST affect you on a day to day basis. Some highlights of those...

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Is Standard Deduction eligible from Pension Income?

Views: 163   Earlier, there was a confusion among the pensioners whose source of income is pension that whether a taxpayer, who receives pension from his former employer, shall be eligible to claim Standard deduction. That confusion has been removed by the Central Board of...

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New ITR Form 1 to 7 for Assessment year 2018-19 notifies by CBDT

Views: 341 For Assessment Year 2017-18, a one page simplified ITR Form-1(Sahaj) was notified. This initiative benefited around 3 crore taxpayers, who have filed their return in this simplified Form. For Assessment Year 2018-19,The Central Board of Direct Taxes(CBDT) has notified Income Tax Return Forms (ITR...

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Resent Changes in NPS norms made by Gov

Views: 161 National Pension Scheme (NPS), a government-sponsored pension scheme, was launched in January 2004 for government employees. It was opened to all sections in 2009. A subscriber can contribute regularly in a pension account during her working life, withdraw a part of the corpus...

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