Goods and Services Tax
The Central Government vide its Notification No 74/2017 Central Tax) dtd 29th Dec 2017 has notified the effective date from which the e-way bill will come into force. As per the notification, the e way bill will come into force from 1st Feb 2018 The relevant notification is provided below [gview file=”http://bssridhar.com/blog/wp-content/uploads/2017/12/notfctn-74-central-tax-english.pdf”]
E way bill date of coming into force Notified Read More »
The Central Government vide its Notification No 73/2017 Central Tax) dtd 29th Dec 2017 has waived the late fees partially, in respect of Filing of GSTR 4 belatedly. The complete details are as under :- Late fees For NIL Returns Rs. 10 Per day (CGST) For Other returns Rs. 25 per day
Waiver of Late fees payable for late filing of GSTR 4 Read More »
As per the provisions of the GST Act, for claiming the deemed credit of tax in respect of Stocks held by the GST tax payers as on 30th June 2017, filing of Tran – 1 is mandatory. After filing the Tran – 1, the tax credit in respect of Stocks for which duty paid invoices
GST Tran-2 Form filing is enabled Read More »
The GST regime has brought many new concepts for making payment of appropriate GST dues. In the initial stages, it was confusing for most of the taxpayers to identify the correct head for the payment and in many instances, the taxes were remitted to inappropriate heads. For Example, the amount to be filled in SGST
Have you paid GST under wrong heads? Here is how you can claim the refund of the same.. Read More »
The following are the statutory obligations for the month of December 2017 [table id=15 /] [chat style=8 num=919840228480]
Statutory Obligations for the month of December 2017 Read More »
The Introduction of GST has reduced the compliance burden of the assessees who had registered with Excise/VAT/Service tax and the record maintenance requirement for these statutes were different. After introduction of GST, the requirement of maintenance of Accounts and records have been notified by the Act making it simpler for the tax payers to comply
ALL ABOUT ACCOUNTS AND RECORDS IN GST Read More »
The rates of GST for goods are undergoing changes frequently by way of various notifications. Hence there is a need for an updated list of GST Rate on goods as amended. The below table summarises the updated GST rates for Goods as on 15th Nov 2017. Source :- www.cbec.gov.in [gview file=”http://bssridhar.com/blog/wp-content/uploads/2017/11/new CGST rates.pdf”]
GST Rates for goods – as on 15th Nov 2017 Read More »
Under the newly introduced GST regime, the GST Assessee having turnover less than Rs. 75 Lakhs can opt for paying GST under Composition Scheme. There are confusions about whether to go for composition scheme or Regular ITC method in GST. The tool below will help you in taking a decision as to whether to opt
GST – Tool to compare Composition Scheme & regular ITC scheme Read More »
The Central Government has notified Central GST (Fourth amendment) Rules 2017. As per the above amendment, the following are the latest amendments in GST Earlier, the last date for migration of the persons registered under existing law (VAT/Service Tax/Excise) was 30 days from the roll out of GST. This date has been extended upto 30th
Latest amendments in GST – Migration date extended Read More »
Under the present VAT Regime, different states follow different rules and forms for movement of goods within the respective states and also for Inter state movement of goods. The compliance requirements under the present VAT regime has many restrictions and different procedural formalities to be completed for movement of goods. The movement of goods under
Movement of goods under GST Read More »
As you are aware, GST is going to be introduced very shortly and it is imperative to know various aspects of the new enactment. One among the important aspects is Invoicing. Invoice is going to play a vital role in GST Input tax credit (ITC) Mechanism. Hence it is very important to know about the
ALL ABOUT INVOICING UNDER GST Read More »
Every taxpayer under GST will be allotted a State wise PAN based 15 digit Goods and Services Tax Payer Unique Identification Number (GSTIN). The various digits in the GSTN will denote the following: How to read your GST Number ? The First two digits represents the State in the Country where the registration is done.
Know the format of your GST Number Read More »
Composition scheme under GST GST Composition Scheme is a simple and hassle free scheme available for Small businesses who are running short of resources for carrying out compliance activities and also for business looking at easier compliance with less paper work and filing procedures. Among the various options available, the Composition Scheme stands out for
Composition scheme under GST – A Comprehensive Guide for Businesses 2024 Read More »
The TNVAT (5th Amendment)Act 2013 – Act No 28 of 2013 requires reversal of Input tax credit @ 3% with regard to Inter-state Sales (CST Sales) . This was applicable from 11th Nov 2013 to 31st March 2015. There was an ambiguity whether this reversal provision is applicable to manufacturers also or applicable only to
TNVAT – Important Judgement on ITC Reversal for Inter-state Sales Read More »
As you are aware, the last date for filing the Form WW (TNVAT Audit Report) for the year 2015-16 is 31st December 2016. In view of the representations made by the dealers, the last date for the Assessees having their principal place of business (or) additional place of business in the Revenue Districts of Chennai,
Last date for filing Form WW (TNVAT Audit Report) extended Read More »
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