GST Articles

As per the update released on 5th September 20, on GSTN Portal, Values of GSTR 1 have been provided to taxpayers for assistance to get auto-drafted values of Table 3 of GSTR 3B.  

“Job work means any treatment or processing is undertaken by a person on goods belonging to another registered person and the expression ‘job worker’ shall be construed accordingly.

Composition Scheme is a simple and easy scheme under GST for taxpayers. Small taxpayers can get rid of tedious GST formalities and pay GST at a fixed rate of turnover. This scheme can be opted by any taxpayer whose turnover is less than Rs. 1.5 crore*.

Key Actionable Items for FY 2019-20 before September 2020 returns

For a taxpayer, it is essential to determine whether the tax paid on the inward supplies is eligible as Input Tax Credit (ITC) or shall fall within the ambit of ineligible ITC. Section 17(5) of CGST Act 2017 provides for cases wherein a taxpayer would not be entitled to claim ITC unless it falls within the exceptions as provided.

GST department has come up with frequent updates in the month of August. This article summarizes all the updates including how these may benefit taxpayers.

ITC means reducing the taxes paid on inputs from taxes to be paid on output. When any supply of services or goods is supplied to a taxable person, the GST charged is known as Input Tax.

1. Introduction to Multi-Locational Entities : a) As per the provisions of section 22(1) Every supplier shall be liable to be registered under GST Act in the St..

It is mandatory for all non-resident taxable taxpayers to get themselves registered under the GST Act it is irrespective of their aggregate annual turnover.

Concept of Pure Agent under GST