Refund under Inverted Duty Structure
Post Views: 374 Refund of balance available in the Electronic Credit Ledger was always the demand of the taxpayers, as it is the working capital of the taxpayer which he/she cannot use in his business. Sometimes GST rate on outward goods may be lower than rate of GST on inward goods; in this case lots […]
Decisions taken in 40th GST Council Meeting
Post Views: 168 40th GST COUNCIL MEETING The 40th GST council meeting was held on today. This was the first meeting after the outbreak of COVID-19 which was held through video conference in the history of GST. The GST council has made the following recommendations on GST Law & GST Procedures. 1. Reduction in Late […]
Filing of GSTR-3B through SMS
Post Views: 326 Filing of NIL GSTR-3B through SMS → Government recently come up with a facility to file Form GSTR-3B through SMS. It is a good initiative taken by our government. GST taxpayer can file NIL return in the Form GSTR-3B, through an SMS, apart from filing it through online mode. Until now few […]
Job work under GST
Post Views: 339 ⇒Job Work:- →According to Section-2(68) of CGST Act, 2017, “Job Work” means any treatment or process undertaken by a person on goods belonging to another registered person and the expression “Job Worker” shall be construed accordingly. →Following Conditions must be fulfilled: 1. There must be Two Persons […]
Extended GST Due Date Chart
Post Views: 498 Because of COVID-19 pandemic Government has extended due date for various GST Compliances. Here in this article we shall discuss various extended due dates and interest liability in respect of late payment of GST. Normal Taxpayer Extended due dates to file GSTR-3B if, Aggregate turnover in the preceding Financial Year is more […]
Transfer of ITC between two separate GSTIN in a State/UT
Post Views: 360 In this article we shall discuss about transfer of Input Tax Credit (ITC) between two or more registered entity having separate GSTIN but owned by one person (Single PAN), in a single State or Union Territory. Rule-41A of Goods and Services Tax Act, 2017 allows a registered person who has separate registration […]
Export through Merchant Exporter under GST Regime
Post Views: 107 · Merchant Export:- Merchant Export is a method of Trading Export which is equally important to the Manufacturer Exporter. The person who is engaged in the merchant export is called as ‘Merchant Exporter’. · Merchant Exporter:- Merchant Exporter means a person engaged in trading activity for exporting or […]