GST Articles

Whether Payment for Supplies can be made by Book Adjustments for availing ITC

Posted by Udaya Chandran 14 November 2021 6446 Views

There has been a confusion among the dealers whether the consideration for supplies can be paid by book adjustments under GST Act. In many businesses, the dealers buy and sell goods or services from one another for which they don’t make payment in cash rather they adjust the book entries for such purchases and sales.

Financial Statements under Indirect Taxes

Posted by CA Akshay Hiregange 13 November 2021 7733 Views

Interpreting and analyzing Financial Statements by keeping in mind GST, Customs, FTP rules and regulations, helps to focus on critical areas, reduces costs and results in client satisfaction.

ITC on Works Contract Service and Construction of Immovable Property

Posted by CA PRASANTH.K 12 November 2021 11807 Views

Under GST law before taking credit of input tax the important test is the business nexus test where we have to check that input is used or intended to be used in the course or furtherance of business.

Important Updates and Due Date Compliances under GST for November 2021

Posted by Tarun Kr. Gupta 08 November 2021 4949 Views

Important clarifications/ amendments issued by the Government on GST in October 2021 along with compliance timelines in November 2021

Use of excessive UPI may invite notice from Income Tax & GST Department

Posted by FCS Deepak Pratap Singh 06 November 2021 12038 Views

USE OF EXCESSIVE UPI -MAY INVITE NOTICE FROM INCOME TAX/GST DEPARTMENT Dear Friends,We are living in a modern world, where we are using various types of gadget...

Due Date Compliance Calendar - November 2021

Posted by MK GUPTA (Chartered Accountant 06 November 2021 12152 Views

Due dates for Compliances under GST, Income Tax, ESI, PF Acts have been mentioned in this article by the author.

New battleground in GST: Cross Charge between Head Office & Branch Office

Posted by Abhishek Raja 03 November 2021 14445 Views

New battleground in GST: Crossc charge between head office & branch office

Summary of TDS provisions in GST

Posted by Abhishek Raja 01 November 2021 9735 Views

TDS is to be deducted at the rate of 2% on payments made to the supplier of taxable goods/services, where the total value of such supply, under an individual contract, exceeds Rs. 2,50,000.

Person liable for Obtaining GST registration

Posted by Ashok Pitroda 26 October 2021 6502 Views

Every supplier shall be liable to be registered under the GST Act in the State or UT, from where they make a supply of goods or services if their aggregate turnover in a FY exceeds the prescribed limits.

Works Contract And Implications For Roads Or Highways

Posted by FCS Deepak Pratap Singh 26 October 2021 6471 Views

GST on payment made through toll charges or annuity payment by NHAI to the concessioner are exempt from GST and the Input Tax paid by the private operators will be available to them as Input Tax Credit.