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GST Year End Compliances
Goods and Services Tax (GST) is a tax system implemented in India to simplify and streamline the indirect tax structure. GST year-end compliances refer to the various tasks that taxpayers need to complete before the end of the financial year (FY) to comply with the
Analysis of the Recommendations of the 49th GST Council Meeting
GST Appellate Tribunal The Council adopted the report of the Group of Ministers with certain modifications. The final draft amendments to the GST laws shall be circulated to Members for their comments. The Chairperson has been authorised to finalize the same. Relaxation in revocation for
Changes in GST via FB 2023 – Clausewise PDF
Union budget was presented by the Finance minister. Although we dont expect a lot of changes in GST. But some important amendments are incorporated into GST by FM via FB 2023. Here we have compiled the clausewise discussion for all those provisions. you can also
’Discount’, a reduction or a revision in sales price?
One important CBIC clarification that has recently come is the deduction of The claim bonus (NCB) from the value of supply for the purpose of GST levy. It’s pertinent to note that NCB is a benefit the recipient of the insurance service is entitled to
Refund of GST Unregistered Persons Cir. No 188/20/2022-GST dated 27.12.2022
All views stated are my personal views, they are not binding on ICAI/Study Circle. My personal views may be correct/incorrect as they are expressed based on my understanding of the subject. All members/listeners are requested to go through tax law provisions on their own and
GST on reimbursement of electricity charges
Introduction Most commonly, in contracts of leasing a building or apartment, the property owner collects rent from the tenant along with the reimbursement of electricity charges on an actual basis. In most such contracts, the electricity meters are in the owners’ name, and the electricity
Section-Wise Gst Analysis Finance Act 2022
ITC is not to be availed if it is in the restricted category of GSTR-2B 2 Reference to Section 43A removed from the conditions for availment of ITC 2 Extension of the due date of availment of ITC to 30th November 3 Cancellation of registration
GST on Rent Compensation – Residential Property
Notification No 05/2022 dated July 13, 2022, applicable from July 18, 2022 I have been curiously and incisively watching and analysing, threadbare, the insightful discussions pertaining to the applicability of GST on Rental Compensation payable by a Registered Person who is a Service Recipient from
अनाज एवं खाद्य सामग्री पर जीएसटी पर ताजा कर का वववेचन
CBIC द्वारा जारी 17 जुलाई 2022 को जारी FAQs जीएसटी कौंससल की 47वीीं मीटटगीं में जब यह तय ककया गया कक पैक्ड अनाज एवीं कुछ प्रकार की खाध्य सामग्री पर कर की एक नयी व्यवस्था लागु कर इन्हें जीएसटी कर के दायरे में लाया जाएगा
342nd Issue: 20th March 2022- 26th March 2022
The Government of India has introduced the tax implications for cryptocurrency for the first time in the Union Budget 2022, while the Internal Revenue Service (IRS) of the United States (US) first addressed cryptocurrencies in 2014. Let us see the differences in the income tax
341st Issue: 13th March 2022- 19th March 2022
The goal of every tax administration is to foster voluntary In a significant step towards Atmanirbhar Bharat, the Central Board of Indirect Taxes & Customs (CBIC) has reduced the compliances required under the Customs (Import of Goods at Concessional Rate of Duty-IGCR) Rules, 2017 and
340th Issue: 6th March 2022- 12th March 2022
The goal of every tax administration is to foster voluntary compliance with the tax law, and it seeks to accomplish this through a mix of measures directed at rendering high-quality service to the taxpayers, putting in place a fair and responsive administration, and establishing a