As per proviso to Section 16 (2) of the CGST Act, where the recipient fails to pay the supplier of goods or services or both, the amount due towards the value of supply along with tax payable there on, within a period of 180 days from the date of issue of invoice by the supplier, […]
Important action to be taken at the time of filing GST Return for December 2017 Read More »
Step by Step guide for filing Form GST TRAN 2 formPrequisite:TRAN 2 can be filed only if TRAN-1 and GSTR 3B of the relevant tax period is filed. Step1.Navigate to the TRAN 2 page of the desired tax period after logging in , Select the < Financial Year> and < Month> Step2.Table 4 of TRAN 2 would
How to file Form GST Tran – 2 ? Read More »
The following are the Statutory obligations for the month of January 2018. [table id=16 /]
Statutory Obligations for the month of January 2018 Read More »
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 »
The due dates for filinng GSTR 1 has been extended as under :- For Quarterly Returns :- (Notification No 71/2017 Central Tax) Quarter Extended Time limit Jul-Sep 2017 10th Jan 2018 Oct-Dec 2017 15th Feb 2018 Jan- Mar 2018 30th April 2018 For Monthly Returns :- (Notification No 72/2017 Central Tax) Months
Due Dates for filing GSTR-1 for Jul-Sep (Both Quarterly & Monthly) Extended 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 »
As per Section 139 AA of the Income-tax Act,1961 , all the taxpayers are mandatorily required to link their PAN with their Aadhaar Numbers. The earlier due date was 31st August 2017, which was extended to 31st December 2017. In view of the representations received and also on account of the difficulties faced by the
Time limit for linking Aadhaar & PAN extended to 31st March 2018 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 »
The payment of GST has been enabled by the GST portal (www.gst.gov.in). How to make payment of GST is explained below [gview file=”http://bssridhar.com/blog/wp-content/uploads/2017/08/Payment-of-GST.pdf”]
How to make payment of GST 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 »
