Reading Time: 2 minutes GST on advance received, the time of supply determines when the taxpayer is required to discharge tax on particular supply. Time of supply provisions are governed by Section 12 to 14 of the CGST Act, 2017. As per the said provisions, the time of supply is determined with reference to the time when the supplier
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Reading Time: 3 minutes Online Money Gaming services, The Goods and Services Tax Network (“GSTN”) has issued an Advisory No. 609 dated October 17, 2023 on the Person supplying of Online Money Gaming services or Online Information Database Access and Retrieval (OIDAR) or Both– Form GST REG-10 and Form GSTR-5A. General: In terms of the recent amendments made in the
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Reading Time: 4 minutes Common errors – e-Invoicing, E–invoicing errors can cause in the rejection of transactions. The table provide the resolution the common errors that occur during e–Invoicing … Error code E-invoicing Error message Reason for E-invoicing Error Resolution for the error 2150 Duplicate Invoice Reference Number Taxpayer uploading the same invoice which is already registered and IRN is generated. To avoid this
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Reading Time: 2 minutes GST invoice format, there is no format prescribed for an invoice in CGST Act 2017, however, Invoice rules makes it mandatory for an invoice to have following fields (only applicable field are to be filled): (a) Name, address and GSTIN of the supplier; (b) A consecutive serial number, in one or multiple series, containing alphabets
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Reading Time: 2 minutes Difference in GSTR-2A and GSTR 9, In the process of preparing and filing of GSTR 9 annual return for previous year, and observing the difference in input tax credit (ITC) as per consolidated GSTR-2A and table 8A of GSTR-9. Finding the difference and complete reconciliation of the difference we should aware of the reasons for
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Reading Time: 2 minutes GST Rate on Scrap , in the GST Laws, the term “Scrap” has not been defined, the waste and scrap does not have to pass the test of manufacture or mechanical process or marketability in order to be taxable in the GST regime, although It is considered as ‘supply’ in course of business. the manufacturing
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Reading Time: 2 minutes GST tribunal constitution, The Much-awaited step in GST regime has been taken, the Ministry of Finance, Department of Revenue, issued the notification on September 14, 2023, regarding the constitution of Benches of the Goods and Services Tax (GST) Appellate Tribunal in States. This notification, published in the Gazette of India, Extraordinary, Part II, Section 3,
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Reading Time: 4 minutes Govt. Has notified the Integrated Goods and Services Tax (Amendment) Act, 2023. Content of amended are as follow. Ji THE INTEGRATED GOODS AND SERVICES TAX (AMENDMENT) ACT, 2023 No. 31 OF 2023 [18th August, 2023.] An Act further to amend the Integrated Goods and Services Tax Act, 2017. Be it enacted by Parliament
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Reading Time: 2 minutes General disciplines related to penalty, According to the provisions of section 126 of CGST Act 2017 regarding general disciplines related to penalty The above said section explains the principles for levy of penalty and general disciplines are to be observed by the tax authorities while levying penalty. The general guidelines to be followed while imposing
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Reading Time: 3 minutes Rule 138F , According to the CGST Rule 138F, Information to be furnished in case of intra-State movement of gold, precious stones, etc. and generation of e-way bills thereof.- (1) Where- (a) a Commissioner of State tax or Union territory tax mandates furnishing of information regarding intra-State movement of goods specified against serial numbers 4
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