Home » Archive by category "GST" (Page 2)

Due dates of FORM GSTR-1 for turnover upto Rs. 1.5 crores

Central Tax Notifications 11/2019-Central Tax ,dt. 07-03-2019 Seeks to prescribe the due dates for furnishing of FORM GSTR-1 for those taxpayers with aggregate turnover upto Rs. 1.5 crores for the months of April, May and June, 2019. In exercise of the powers conferred by section...

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Due dates of FORM GSTR-3B for the months of April, May and June, 2019

Central Tax Notifications 13/2019-Central Tax ,dt. 07-03-2019 Seeks to prescribe the due dates for furnishing of FORM GSTR-3B for the months of April, May and June, 2019. In exercise of the powers conferred by section 168 of the Central Goods and Services Tax Act, 2017...

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Threshold limit of GST registration for turnover upto Rs. 40 Lakhs.

Central Tax Notifications 10/2019-Central Tax ,dt. 07-03-2019 seeksn exemption from registration for any person engaged in exclusive supply of goods and whose aggregate turnover in the financial year does not exceed Rs 40 lakhs. In exercise of the powers conferred by sub-section (2) of section...

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Provision related to Refund under GST Law

There are certain situations under which you can claim refund under GST law.  Due to zero rates on Export, and inverted tax on certain supply, i.e. inward supply is taxed more than outward supply.  As per section 54(1) of CGST Act, 2017 Application for refund...

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New Provision relating to set off of input tax credit (ITC) under GST

Introduction:- The GST Regimes has three tax mechanism i.e. CGST, SGST/UTGST, IGST. Igst is leviable on inter-state supplies. While CGST & SGST/UTGST leviable on intra state supplies. Section 49(5) of CGST Act, prescribes the manner of utilization of credit remains in Electronic credit ledger. However,...

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Important of Debit & Credit Notes in GST Era

Accounts and Records

The debit notes and credit notes are a very essential part of any relationship between the debtor and the creditor which are required to be issued under various circumstances. GST law has its own requirements for issue of these documents which must be met. This...

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32nd meeting of GST Council accorded massive relief for MSME sector.

GST COUNCIL

The GST council in its 32nd meeting as on 10-01-2019 headed by Mr. Arun Jaitleyji, accorded massive relief for MSME sector. GST Threshold LimitIn 32nd GST council meeting to help SMEs the Threshold limit increased to 40 Lakhs, effective April 1, the GST exemption threshold...

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GST audit in case of Provision of services

Under GST law the point of taxation in case of services arise at the time of supply of services which is to be determined based on the principles laid down under section 13 of the CGST Act. 1.General rule: a) Timely issue of invoice: –...

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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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