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Blocking/Unblocking of ITC by GST Authorities on GSTN

Blocking/Unblocking of ITC The Government of Haryana has issued guidelines regarding circumstances in which input tax credit (ITC) can be blocked/ unblocked from the electronic credit ledger vide Circular Memo No. 3555/GST- 2, dated 30 October, 2018. GSTN has recently released an application program interface...

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GST Refund for multiple tax period advisory

GST_REFUND

GSTN has published advisory of GST refund for multiple tax period   1. GST Refund application filing for multiple tax period is available for below grounds of refund: a.Export of Goods & Services Without payment of Tax b.Export of services with payment of tax c.Supplies...

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Glimpse of TDS Provision under the GST Act – Revised

  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 the applicability...

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What information should be filed in GSTR-9 return

  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 GSTR-9A return:...

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Updated Draft regarding Lapse of ITC Under GST Act

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 Notification 20/2018....

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Will Composition dealer have to pay GST on advance receipts?

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 subject to...

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Support Services of Agriculture,forestry,fishing etc.

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 services of...

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Snippet of 27th GST Council Meeting

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 State Governements...

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

electronic way bill

 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 a typical...

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Understanding the apportionment of Input Tax Credit

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 goods) The...

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