Refund under GST Characteristics of refund procedure under GST: Under GST refund of excess GST paid or erroneously paid is time bound procedure led by a simplified and technology driven exercise with minimal human interface. An application has to make [Read More]
Cancellation of GST Registration When need for cancellation for registration in required: In case GST registration is issued by department is the process of migrating the existing registration and under GST regime assessee is not liable to get himself registered. [Read More]
GST Implication of second hand and used cars etc Chargeability of GST: [Section 9] There shall be levied a tax called the central goods and services tax on all intra-State supplies of goods or services or both, Except on the [Read More]
Procedure required for migrating data from GSTR 2A to GSTR 2: There are two method of filing GSTR 2: Offline mode and online mode. Under offline mode you can down data from GSTR 2A in the portal in CSV format [Read More]
Decision taken in 22nd GST Council Meeting 1. GST Council allows SMEs with turnover of up to Rs 1.5 cr to file quarterly returns instead of monthly filings. 2. Nominal 0.1% GST on exports 3. For July exports, refund cheques [Read More]
GST and TDS calculation under Income Tax Act Circular no 23/2017 of CBDT: The Central Board of Direct Taxes (the Board) had earlier issued Circular No. 112014 dated 13.01.2014 clarifying that wherever in terms of the agreement or contract between [Read More]
Accounting Entries in case GST paid under Reverse Charge Features of reverse charge mechanism of payment of tax on certain supply of services under GST: The bulleted points of the above discussion are as below: Reverse charge is a mode [Read More]
GSTR 2 & 2A Role of GSTR -2 for the registered dealer: GSTR – 2 is a return document used by GST portal for giving Input Tax Credit in GSTR – 3 to the dealer. Hence, it is a very [Read More]
Deadline for filing GSTR 1 extended to 10th October 2017 S.No. GSTR Form No. Tax Period Revised Due Date 1 GSTR-1 July 2017 10-Oct-2017 1.1 GSTR-1 (Turnover more than 100 crore) July 2017 3-Oct-2017 2 GSTR-2 July 2017 31-Oct-2017 3 GSTR-3 [Read More]