Category: Taxation

TDS is introduced in GST w.e.f. 01.10.2018: All about TDS in GST Law GST Law mandates Tax Deduction at Source (TDS) vide Section 51 of the CGST/SGST Act 2017, Section 20 of the IGST Act, 2017 and Section 21 of the UTGST Act, 2017. GST Council in its 28th meeting held on 21.07.2018 recommended the […]

Due dates for filing GSTR 1 for all months from July 2018 till March 2019 has been extended to 11th of the next month. Download notification

Summary of GST meeting 4th August 2018: 1. GOM for MSME Issues: a. GST Council constitutes a Group of Ministers (GoM) to look into issues of MSME’s. b. Finance Minister’s of Assam, Delhi, Punjab & Kerala will be part of this GoM. c. Finance Minister of State – Shri Shiv Pratap Shukla ji will be […]

The GST Council in its 28th GST Council Meeting held on July 21, 2018 under the Chairmanship of Shri Piyush Goyal, Union Minister for Railways, Coal, Finance & Corporate Affairs has approved the new return formats. The Council had earlier approved the basic principles of GST return design and directed the law committee to finalize the […]

28st GST Council meeting held on 21st July 2018 and we are presenting here the key decisions taken in this meeting . Some of the decisions will be given effect by way of issuing Notifications and few are to be placed in Parliament to amend the GST Laws. Key Decisions:- Return Simplification. Quarterly returns for […]

28th GST Council meet on Saturday i.e. 21st July 2018: Return simplification, law tweaks, setting up of tribunal on table The proposed amendments to the goods and services tax (GST)-related laws, simplification of GST returns, the creation of GST appellate tribunal and the revenue position of states will be among the key items slated for […]

Section 9 (4) of the Central Goods and Services Tax, 2017 (CGST Act in short) and Section 5(4) of Integrated Goods and Services Tax, 2017 (IGST Act in short) provides that tax in respect of the supply of taxable goods or services or both by a person, who is not registered, to a registered person […]

What is Job Work? Any treatment or process undertaken by a person on goods belonging to another registered person is called as Job Work. The registered person on whose goods job work is performed is called Principal and the person who treats or processes the goods sent by the principal is called Job Worker. For […]

26th Meeting of GST council held today i.e 10th March 2018 in New Delhi under chairmanship of Sh. Arun jaitley. GST return filing process was expected to be simplified but GST council could not reach a decision and current system of GST return filing is continued and GSTR-3B is decided to be continued for three […]

On 24-02-2018, in the meeting of GoM (Group of Ministers), it is decided to start the inter-state movement of goods worth more than Rs. 50000/- through E-way Bill mechanism from 1st April 2018. The GoM meet, however, remained inconclusive on how to simplify the GST return filing process. However final decision will be taken in […]

To facilitate easy inter-state movement of goods throughout the country, National E-way bill was made compulsory w.e.f. 01-02-2018 for consignment value more than Rs. 50000/- replacing separate way-bill for each state with the line “One Nation, One E-way Bill’ But the same is postponed till further order due to technical glitches. E-Way bill portal

Composition Scheme in GST: Updated with 23rd meeting of GST Council Composition Scheme is introduced to give relief to small taxpayer i.e. taxpayer having limited value of aggregate turnover. It is very difficult for small taxpayer to comply with complete procedure established by the law. They may have to incur higher percentage of their earnings for […]

23rd GST Council meet held on 10th November 2017 in Guwahati. This 23rd meeting came up with new decisions to ease tax rates and compliance issues. GST Council lowered tax rates on 177 items from 28% to 18%.  The panel also decided to move 13 items from the 18% tax slab to 12%, another six from […]

Due Date for Filing GST Return and making payment of GST We have received many queries regarding GST Return and Payment , here in this article we will try to show a clear picture of GST Return and payment for a taxpayer (except composition supplier) registered under GST law. There are various GST Returns, which […]

GST Concepts/Basic Features of GST GST Law as going to be implemented in India w.e.f 01.07.2017, have following features:- State-wise single registration for Taxpayer: One PAN-One State-One Registration, it means for one PAN only one single GST Registration number for one state will be there. If a person does business in 5 states then he […]