Finance ministry will report GST on cash basis In a move to improve its reporting of GST collection.The finance ministry has decided to move to cash basis for GST reporting. Due to the accrual basis of accounting the reporting of last year. Now on the
First GST anti-profiteering decision for Honda Cars: First anti-profiteering application raised for Rs. 10,550 by a car buyer is quashed by authority. The buyer alleged that the tax on the car was 51% earlier and now it is 29%. A demand of Rs. 10,550 was raised
Duty Free Shops supplies not Exports under GST- Delhi AAR ruling: Duty Free Shops supplies not Exports under GST.Though section 105 of CGST Act states that every proceeding before Authority for Advance Ruling (AAR) shall be judicial proceedings, however, Rule 103 of CGST rules states
AAR ruling in case of ROD Retail Private Limited: Though section 105 of CGST Act states that every proceeding before Authority for Advance Ruling (AAR) shall be judicial proceedings, however, Rule 103 of CGST rules states that both the member judges of this authority shall
Roll out of e-Way Bill system for intra-State movement of goods in the States in the 5 States Source: CBEC Press Release As per the decision of the GST Council, e-Way Bill system for inter-State movement of goods has been rolled out from 01st April
One E-way bill required for “Bill To Ship To” Invoices Source: CBEC press release Issues regarding “Bill To Ship To” for e-Way Bill under CGST Rules, 2017 A number of representations have been received seeking clarifications in relation to the requirement of e-Way Bill for
In GST that will be so much litigation in near future majorly in 3 area 1. The first is POS – the place of supply. There might be chances that officers will force you to pay CGST SGST instead IGST that you have charged at
Don’t Misuse These 8 Rules! The warning by IT Dept to Salaried Person The IT-dept has informed the salaried class taxpayers to avoid illegal ways in income tax returns (ITR) filing. It is strictly mentioned that such violators will not only be taken to the
Note on Employer-Employee Transactions Applicable Provisions ‘Supply’ has been defined under Section 7(1) of the Central Goods and Services Tax Act, 2017 (“CGST Act”) which provides that supply inter-alia includes- a. all forms of supply of goods and/or services such as sale, transfer, barter, exchange,
How to Handle “bill to” – “Ship to” Invoices in E-way Bill System Sometimes, the taxpayers raise the bill to somebody and send the consignment to somebody else as per the business requirement. There is a provision in the e-way bill system to handle the
