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

Views: 74 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...

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

Views: 170 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...

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

Views: 169 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)...

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Provision related to Refund under GST Law

Views: 100 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...

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

Views: 255 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...

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Glimps of Finance Bill 2019 presented by FM Mr. P Goel

Views: 164 New Finance Minister MR. Piyush Goel has presented Finance Bill 2019 on 01-Feb-2019. In Finance Bill 2019 he has proposed following major amendments related to Direct Tax:    Finance Bill 2019 # 1. The Standard deduction has been increased from Rs.40,000/- to Rs...

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Important of Debit & Credit Notes in GST Era

Accounts and Records

Views: 834 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...

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

GST COUNCIL

Views: 877 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...

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GST audit in case of Provision of services

Views: 523 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...

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Blocking/Unblocking of ITC by GST Authorities on GSTN

Views: 593 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...

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