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GST ComplianceFAQs on GST e-invoice/IRN System
A. E-invoice – Basics: 1. What is ‘e-invoicing’? As per Rule 48(4) of CGST Rules, notified class of registered persons has to prepare the invoice by uploading specified particulars of the invoice (in FORM GST INV-01) on Invoice Registration Portal (IRP) and obtain an Invoice
GST ComplianceNew Functionalities made available for Taxpayers on GST Portal (March, 2021)
1 – Registration: S.no Form/ Functionality Functionality made available for Taxpayers 1 Assignment of new applications of registration, in certain cases, with the same PAN, and in the same State/ UT New registration applications of the applicants, whose previous application for registration were either rejected
GST ComplianceGST SAC Code For Real Estate Services
SAC RATE Rental or leasing services involving own or leased non-residential property 997212 18% Rental or leasing services involving own or leased Residential property 997211 18% Property Sales on a fee or commission basis or on a contract basis 997222 18% Property Management Services
GST ComplianceUseful HSN Codes- A User-Friendly Compilation
PARTICULARS REQUIREMENT OF HSN CODE Turnover more than Rs. 5 Crore in the Financial Year 2020-21 6 Digit HSN Code- Use all the 6 digits mentioned in the schedule given below Turnover up to Rs. 5.00 Crore in the Financial Year 2020-21 4 Digit
GST ComplianceAmnesty Scheme of Rajasthan
GOVERNMENT OF RAJASTHAN FINANCE DEPARTMENT (TAX DIVISION) NOTIFICATION Jaipur, Dated 31 March 2021 In exercise of the powers conferred by sub-section (2A) of section 174 of the Rajasthan Goods and Services Tax Act, 2017 (Act No. 9 of 2017), the State Government being of the
GST ComplianceList of SAC’s for CA Professionals for GST
1) Accounting and Bookkeeping services 998222 2) Bank Concurrent Audit 998221 3) Bank Statutory Audit 998221 4) CFO Services 998311 5) Corporate tax consulting and preparation services 998231 6) ERP Consulting 998313 7) ERP implementation 998314 8) e Sign Audit, CISA 998319 9) GST/VAT/Serivice
GST ComplianceScheme of Classification of Services
S. No. Chapter, Section, Heading, or Group Service Code (Tariff) Service Description (1) (2) (3) (4) 1. Chapter 99 All Services 2. Section 5 Construction Services 3. Heading 9954 Construction Services 4. Group 99541 Construction services of buildings 5. 995411 Construction services of single
GST ComplianceUpdated schedule of CGST rates on goods, as on 31.03.2021
The GST rates on certain goods have undergone changes since the introduction of GST. The rate changes are given effect through amending notifications issued from time to time. Requests have been received for publishing a consolidated rate schedule incorporating all the changes. According, this
GST ComplianceDenial of Integrated GST refund to Advance Authorization License Holders
What is Advance Authorization Scheme? Advance Authorization is issued to allow duty-free import of input, which is physically incorporated in export product (making normal allowance for wastage). In addition, fuel, oil, the catalyst which is consumed/utilized in the process of production of export product, may
GST ComplianceAllowability of Itc on Gst Paid on Group Medical Insurance, Health or Medical Insurance Cover for All Categories of Employees
In this presentation, vexed issue as to whether GST Paid on Medical/Health Insurance cover in respect of all employees (including employees drawing salary more than Rs.21,000/-) is allowable as ITC in view of the provisions of Section 17(5)(b)(i) of GST – in the light of
GST ComplianceQR Code Compliance is Deferred to 1st July
Notification No. 06/2021 – Central Tax [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS Notification No. 06/2021 – Central Tax New Delhi,
GST ComplianceCAG Report on GST
Chapter I: Indirect Taxes Administration This chapter gives an overview of the indirect taxes administration, revenue trends in indirect tax collection, and compliance verification mechanism under Goods and Services Tax. 1.1 Nature of Indirect Taxes This Audit Report covers transactions involving levy and collection of