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Input Tax Credit Reversal on Discount Received
Input Tax Credit Reversal on Discount Received DISCOUNT RECEIVED- ITC REVERSAL? As a matter of Trade Policy, the suppliers allows the discounts on the goods supplied. Discounts may in nature of 1. Turnover Discount 2. Volume Discount based on Quantity 3. Value Discounts 4. Bonus
GSTR 2A Reconciliation Tool
GSTR 2A Reconciliation Tool The wrong availment of ITC is illegal and could attract both heavy interest and penalty. It is always suggested to reconcile your GSTR 2A with your books as often as possible. There is no Excel tool in the market to reconcile
GST Input Tax Credit availment relaxation due to Covid-19 Outbreak by CA Yashwant Kasar
GST Input Tax Credit availment relaxation due to Covid-19 Outbreak Background The government has temporarily lifted restrictions imposed on businesses to avail GST credit for February to August, a move that would help businesses tide over tight economic conditions following the outbreak of the novel
10 Case Studies under GST
10 Case Studies under GST Case Study 1 GST implications on ICAI membership fees and similar bodies? What is the supply? Section 7 of the CGST Act (1) Supply includes (a) all forms of supply of goods and/or services such as sale, transfer, barter, exchange,
Best course of GST for beginners
The Best course of GST for beginners: GST is one of the best career opportunities. From the MSME sector to big corporates, there is a requirement of candidates having knowledge of GST. Good thing is that the consultants working in GST area are not properly
Payment of Tax &, Interest Under “Self Assessment And Finalisation of Provisional Assessment Under GST by Pradeep K Mittal.
Payment of Tax &, Interest Under “Self Assessment And Finalisation of Provisional Assessment Under GST. In this article, we will analyze various terms “self-assessment”, “provisional assessment” and “finalization of assessment” have been dealt with with the help of landmark cases of Hon’ble Supreme Court and
All About Interest In GST – Past, Present, and Future Outlook
All About Interest In GST – Past, Present, and Future Outlook History of Interest under GST When the GST got introduced from 1st July 2017, quite a number of registered persons were struggling to come to terms with the change in the systems, policies and
GST ComplianceStep by step process to file GST PMT 09
What is PMT 09? GST PMT 09 is the form to transfer the tax paid in the wrong head. It was waited for long. Now we can file GST PMT 09. The following transfers are possible. Below is the table for tax deposited in IGST.
CA Shafaly Girdharwal
GST ComplianceRESTAURANT AND OUTDOOR CATERING SERVICE
RESTAURANT AND OUTDOOR CATERING SERVICE RESTAURANT SERVICE Restaurant Service as the term denotes is not limited to service from the restaurant but covers all the services supplied from the restaurant, eating joint, mess, canteen Further, there is no restriction on the ownership of the premises.
Notification No. 28/2017-Central Tax (Rate)
Notification No. 28/2017-Central Tax (Rate) [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 28/2017-Central Tax (Rate) New Delhi, the 22nd September 2017 G.S.R. (E).- In exercise
Arrest Under GST And Code Criminal Procedure, 1973 For Bail
Arrest Under GST And Code Criminal Procedure, 1973 For Bail Provisions relating to prosecution with respect of evasion of tax being imprisonment is contained in Section 132 of CGST Act, 2017 which is akin to Section 9 and Section 9A of the Central Excise Act,
Notification No. 37 /2017 – 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 Excise and Customs] Notification No. 37 /2017 – Central Tax New Delhi, the 4th October 2017 G.S.R….(E).-