Goods and Service Tax

Reading Time: 4 minutesCredit Note in GST Credit Note in GST, A supplier of goods or services or both is mandatorily required to issue a tax invoice.However, during the course of trade or commerce, after the invoice has been issued there could be situations like: • The supplier has erroneously declared a value which is more than the
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Reading Time: 7 minutesGST on advances received for future supplies GST on advances received for future supplies, Time of supply determines when the taxpayer is required to discharge tax on particular supply. Time of supply provisions is governed by Section 12 to 14 of the CGST  Act, 2017. As per the said provisions, the time of supply is
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Reading Time: 2 minutesGovt Allows the filling of Pending Tran-1 and related GSTR3B Govt Allows the filling of Pending Tran-1 and related GSTR3B, After getting directions from many High courts, CBIC has decided to will allow the filing of Pending TRAN-1 and related GSTR-3B. so CBIC has released a press release regarding the same Govt Allows the filling of
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Reading Time: 2 minutesAction Point for Financial Year 2018-19 for all assesses 1. The company may develop the “New Series” of all documents to be issued like Tax Invoice. Export Invoice, Bill of supply, Receipt Voucher, Payment Voucher, Refund voucher, Debit Note, Credit Note, Delivery challans for new Financial Year 2018-19. 2. The company required to Mention HSN
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Reading Time: 2 minutesClarification with respect to the E waybill System Clarification with respect to the E waybill System, The E waybill system for inter-State movement of goods across the country is being introduced from 01st April 2018. Few clarifications regarding the new E waybill system are as follows: l. Situation: Consider a situation where a consignor is
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Reading Time: 2 minutesPoints to be noted by Transporters of Goods regarding E waybill Points to be noted by Transporters of goods regarding E waybill, The Most awaiting System of Goods and Services Tax, ” The E Waybill system” is likely to roll out from 1st April 2018 on Pan India Basis. here are some Points to be noted
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Reading Time: 8 minutesProvisions for Charitable and Religious trust under GST GST on Charitable and Religious Trusts, The provisions relating to taxation of activities of charitable institutions and religious trusts have been borrowed and carried over from the erstwhile service tax provisions. All services provided by such entities are not exempt.  In fact, there are many services that are provided
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Reading Time: 14 minutesClarification on issues related to Job Work Clarification on issues related to Job Work, Central Board of Excise & Customs has released the circular No.38/12/2018 to clarify all issues related to job work. The clarification was made on scope of job work, the requirement of registration, supply of goods, movement of goods, issues and legal provisions.
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Reading Time: 2 minutesRecent Amendment in Eway bill Rules The EWay Bill is meant to be generated only where the value Of the consignment exceeds Rs. 50,000. For the smaller value consignments, no e-way bill is mandated. The provisions of sub-rule (7) of Rule 138 will be notified from a later date. Therefore.at present, there is no requirement to generate
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Reading Time: 2 minutesHow to change status from/to SEZ in GST registration How to change status from/to SEZ in GST registration, as of now, many taxpayers who get registered as an SEZ mistakenly and now they want to shift to normal taxpayers.Likewise, the many taxpayers who have registered as a normal taxpayer but they want to shift to
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