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Unregistered Taxpayer and Composition Scheme : GST

Unregistered Taxpayer and Composition Scheme – GST : Section 10 of the CGST Act 2017 provides option to any registered taxable person having turnover up to Rs 75 lacs per annum to pay tax at lower rates subject to the condition that he should not...

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Refund of Unutilized ITC under GST

The GST Law provide for refund of unutilized ITC, where credit accumulation is on account of inverted duty structure, subject to certain riders. Time lines have been set for processing of refund claims and claims not settled within 60 days will be paid with interest...

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Cases not eligible for GST Refund

Cases not eligible for GST Refund : Refund is subject to restriction and in certain circumstances, refund is not available to the taxpayer in following cases:- a. Time bound Application for GST refund. As per Section 54(1) any application made after expiry of two year...

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Revision in Composition Scheme by GST Council

Revision in Composition Scheme has been recommended by GST council in 22nd meeting held at New Delhi under the chairmanship of Mr. Arun Jaitley. Small and medium business houses are confused, annoying due to complexity of GST compliance and they need some help from Government. Some...

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Relief Package for Exporter recommended by GST council

22nd meeting of GST council bring great relief package for exporter, who were facing situation of working capital crunch. Exporters were facing difficulties post-GST leading to a decline in export performance and export competitiveness. After interacting with all related stakeholders the Committee approved the following relief...

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Analysis : GST on recovery by employer from employee


Employer and Employee relationship in GST regime: New Goods and Services Tax Law is trying to create new perception of taxing principals and eliminating the limitations of existing laws, with the help of robust Information Technology system. There are different point of view about the services...

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Concerns of Textile Sector over GST Implementation

Textile Sector

India’s largest employment generator, textile sector is concern over GST implementation The textiles and garment sector is one of the biggest and the largest sector in the India. Textile sector is also big employment generator. Before GST this big sector was out of taxes network....

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Teething problems while filing GSTR-3B, GSTR-1, TRANS-1


CBEC has fixed and extended Return filing deadline for the month of July, 2017. Last dates for filing returns (GSTR-3B, GSTR-1 and Trans-1, GSTR-2 & GSTR-3), also fixed dates making tax payments for July, 2017. But taxpayers are facing teething problems while filing GSTR-3B, GSTR-1...

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Suggestions : Some mistakes in GST by traders


After roll out of GST from 1st July,2017, business & traders communities are very confused about GST related matters that how to generate Bill of Supply, what to do if advance payment received,  tax rate, HSN/SAC code, GST or CGST or SGST or IGST  etc....

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TCS under GST : E-Commerce Operator

Every electronic commerce operator (e-commerce operator), not being an agent, is required to collect an amount calculated at the rate of one percent (1%) of the net value of taxable supplies made through it where the consideration with respect to such supplies is to be...

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