“India” means the territory of India as referred to in article 1 of the Constitution, its territorial waters, seabed and sub-soil underlying such waters, continental shelf, exclusive economic zone or…
Penalty for late filling of GSTR 9 As per Section Section, 47(2) provides that where any registered person fails to furnish an annual return by the due date total late…
GST registration in 3 days ‘Physical verification of business place is required if Aadhaar is NOT authenticated: CBIC’ Notification No 62/2020 dated 20/08/2020 (a) If a person applying for GST…
Documents Required For GST Registration for sole proprietorship Proprietor Pan Card Proprietor Email ID and Mobile Number. Proprietor Aadhaar Card Proprietor Photo Business address with proof in case of ownership…
GST taxpayers with NIL outward supplies would not be required to log on to the GST Portal and would be able to file their NIL statement in FORM GSTR-1 and…
1. Measures for Trade facilitation: Reduction in Late Fee for past Returns: As a measure to clean up pendency in return filing, a late fee for non-furnishing FORM GSTR-3B for…
In exercise of the powers conferred by sub-section (1) of section 44 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to…
In exercise of the powers conferred by section 168A of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said…
Change in compliance related to Company Act Applicability of Companies (Auditor's Report) Order 2020, which was supposed to come in to force from 2019-2020, will now come into force from…
Gstr-9 and Gstr-9c due date extended till 30th June 2020. Increase the turnover limit from 2 crores to 5 crores for mandatory annual return filling Gstr-9 and Gstr-9c. Delayed Interest Payment…
(1) The person exercising the option to pay tax under section 10 shall comply with the following conditions, namely:- (a) he is neither a casual taxable person nor a non-resident…
The exemption to religious organizations is not available. Conduct of any religious ceremony is exempt under Entry No. 13 of Notification No. 12/2017-Central Tax (Rate), dated 28th June, 2017 [Clause…
As per the meaning of supply one of the ingredients is to establish that a particular transaction is in the course or furtherance of business. The sale of books, articles,…
The inclusions specified in Section 15(2) which could be added to transaction value are as follows: (a) Any taxes, duties, cesses, fees and charges levied under any statute, other than…
As a general principle, import of services without consideration will not be considered as supply under GST in terms of Section 7. However, import of services by a taxable person…
Zero rated supply means export of goods and/or services or supply of goods and/or services to a S.E.Z developer or a S.E.Z Unit.
Inter-State self-supplies such as stock transfers, branch transfers or consignment sales shall be taxable under IGST even though such transactions may not involve payment of consideration. Every supplier is liable…
In order to constitute a ‘supply’, the following elements are required to be satisfied, i.e.- the activity involves supply of goods or services or both;the supply is for a consideration…
A ‘taxable supply’ means a supply of goods or services or both which is chargeable to goods and services tax under the GST Act.
The taxable supplier supplying to these organizations is expected to mention the UIN on the invoices and treat such supplies as supplies to another registered person (B2B) and the invoices…
Yes. In terms of Section 25(9) of the CGST/SGST Act, all notified UN bodies, Consulates or Embassies of foreign countries and any other class of persons so notified would be…
No. Every person who is liable to take a Registration will have to get registered separately for each of the States where he has a business operation and is liable…
As per Section 22 of the CGST/SGST Act 2017, every supplier (including his agent) who makes a taxable supply i.e. supply of goods and / or services which are leviable…
Securities have been specifically excluded from the definition of goods as well as services. Thus, transaction in securities shall not be liable to GST. However, activities which result in arranging…
Grants/donations received by NPO shall not be covered as supply as these are without consideration and also not in the course or furtherance of business and therefore grant/donations received are…
As per section 2(6) of the CGST/SGST Act “aggregate turnover” includes the aggregate value of: all taxable supplies, all exempt supplies, exports of goods and/or service, and, all inter-State supplies…
where an exempt supply of goods or services or both by a registered person becomes a taxable supply, such person shall be entitled to take credit of input tax in…
where an exempt supply of goods or services or both by a registered person becomes a taxable supply, such person shall be entitled to take credit of input tax in…
Where any registered person ceases to pay tax under section 10, he shall be entitled to take credit of input tax in respect of inputs held in stock, inputs contained…
Where any registered person ceases to pay tax under section 10, he shall be entitled to take credit of input tax in respect of inputs held in stock, inputs contained…
Check points for the Chartered Accountant A person, though not liable to be registered under section 22 or section 24 may get himself registered voluntarily, and all provisions of this…
A person, though not liable to be registered under section 22 or section 24 may get himself registered voluntarily, and all provisions of this Act, shall be entitled to take…
Section 18(1)(a) of the GST, A person who has applied for registration under this Act within thirty days from the date on which he becomes liable to registration and has…
Section 18(1)(a) of the GST, A person who has applied for registration under this Act within thirty days from the date on which he becomes liable to registration and has…
Where any registered person ceases to pay tax under section 10, he shall be entitled to take credit of input tax in respect of inputs held in stock, inputs contained…
where an exempt supply of goods or services or both by a registered person becomes a taxable supply, such person shall be entitled to take credit of input tax in…
A person, though not liable to be registered under section 22 or section 24 may get himself registered voluntarily, and all provisions of this Act, shall be entitled to take…
Notwithstanding anything contained in sub-section (1) of section 22, the following categories of persons shall be required to be registered under this Act, –– (i) persons making any inter-State taxable…
A person who has applied for registration under this Act within thirty days from the date on which he becomes liable to registration and has been granted such registration shall…