Intra-State Supply of Gold under GST
Intra-State Supply of Gold under GST The implementation of Goods and Service Tax had a huge effect on the gold industry. With GST in force, the gold industry had to face an additional GST levy of 3%...
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Return of Expired Medicine Under GST
Return of Expired Medicine Under GST There was various confusion prevailing within the pharmaceutical industry with regard to the treatment of the time expired drugs/medicines under GST and to overcome...
View ArticleSuspension of GST Registration
Suspension of GST Registration The Government, with the intention to ease up the Goods and Service Tax for the taxpayer, is continuously amending/inserting various provisions of the Goods and Service...
View ArticleReverse Charge Mechanism Applicability
Reverse Charge Mechanism Applicability The provisions relating to the levy of reverse charge mechanism with respect to goods or services or both received from an unregistered person by a registered...
View Article33rd GST Council Meeting
33rd GST Council Meeting The 33rd GST Council Meeting was held on 20th February 2019 through video conferencing under the Chairmanship of the Union Minister of Finance & Corporate Affairs, Shri....
View ArticleGSTR-3B and GSTR-1 Reconciliation
GSTR-3B and GSTR-1 Reconciliation Goods and Service Tax (GST) is a destination based levy and introduction of the same has subsumed various Central taxes and State taxes. The transaction of inter-state...
View ArticlePayment Voucher
Payment Voucher Under Goods and Service Tax, the different transaction involves the issuance of different vouchers/invoices. One such voucher, newly introduced in GST, is Payment Voucher. Present...
View ArticleComposition Scheme for Service Providers
Composition Scheme for Service Providers In order to come up with various solutions, the Goods and Service Tax Council meets up frequently and comes up with various decisions. The 32nd Goods and...
View ArticleGST Turnover Limit for Supplier of Goods
GST Turnover Limit for Supplier of Goods The Central Board of Indirect Taxes and Customs have recently come up with two notifications through which the turnover limit for suppliers of goods under the...
View ArticleAccounting for Sales Promotion under GST
Accounting for Sales Promotion under GST Due to continuous increase in the number of suppliers, there is huge competition prevailing in the market. Due to the competitive market, the suppliers are...
View Article34th GST Council Meeting
34th GST Council Meeting 34th GST Council meeting was held on 19th March 2019 and decision with regard to the implementation of lower GST rate on real estate has been taken. Let us first recall that in...
View ArticleApplicability of GST on Priority Sector Lending Certificate
Applicability of GST on Priority Sector Lending Certificate Priority Sector Lending Certificate is a tradable certificate which is issued against the priority sector loans of the banks. Priority Sector...
View ArticleCause List on GST Portal
Cause List on GST Portal In simple terms, cause lists are the schedule of cases to be heard by the courts on the following days. Cases wherein the application are filed / referred or when an order has...
View ArticleNew GST Registration after Cancellation
New GST Registration after Cancellation GST officers have been bestowed upon with the powers, vide section 29 (2) of the Central Goods and Service Tax Act, 2017, to cancel GST registration of a...
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Form INV-01
Form INV-01 Form INV-01 holds a place of significance in the Indian GST regime, thanks to the provision of Invoice Reference Number (IRN). Invoice Reference Number (IRN) is an alternative to the...
View Article3% GST Rate Scheme
3% GST Rate Scheme The Government vide notification No. 2/2019-Central Tax (Rate) dated 7th March, 2019 had announced a 3% GST rate scheme for businesses in the new financial year 2019-20. In this...
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GSTR-3B Due Date Extended
GSTR-3B Due Date Extended The government has extended the last date for filing GSTR-3B return for the month of March 2019 by three days to April 23, 2019. The announcement was made on the GST Portal....
View ArticleScheme for Revocation of Cancellation of GST Registration
Scheme for Revocation of Cancellation of GST Registration The Central Board of Indirect Taxes and Customs (CBDT), vide the Central Goods and Services Tax (Fifth Removal of Difficulties) Order 2019, has...
View ArticleGST eInvoice
GST eInvoice – Proposed Provision The Government of India has proposed the launch of a GST eInvoice facility for issuing GST invoices to curb tax evasion and streamline GST return filing. The...
View ArticleeWay Bill Disabled
eWay Bill Disabled – Late Filing of GST Return In order to streamline the GST return filing process under GST, rule 138E has been inserted which prohibits the registered person from generating the GST...
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