GST Articles
Analysis of Notification No. 35 / 2021 and 36 / 2021 - Central Tax, issued for decisions taken in 45th GST Council Meeting
The Government has amended the CGST Rules, 2017 vide Notification No. 35 / 2021 - Central Tax and Notification No. 36 / 2021 - Central Tax, Dated 24th September 2021 in order to bring into effect some of the recommendations made in the 45th GST Council Meeting.
GST on Factoring Arrangements
Factoring is very popular and necessary to enhance working capital by quick conversion of book debt into liquid form.
GST Implication on Recovery Agent Service
As per Section 2(5) of CGST Act, "Agent" means a person, including a factor, broker, commission agent, arhatia, del credere agent, an auctioneer or any other mercantile agent, by whatever name called,who carries on the business of supply or receipt of goods or services or both on behalf of another.
Provision to Link Bank Account Details with GSTIN, by CBIC
To avoid revenue leakages or safeguard the honest taxpayers, CBIC has come up with a provision to Link Bank account details with GSTIN.
Standard Operating Procedure (SOP) for Scrutiny of returns for FY 2017-18 and 2018-19
We bring to you a summary of the instruction along with indicative list of parameters for scrutiny (though the list is indicative and proper officer may include additional parameters).
CGST department likely to commence Scrutiny of GST returns for 2017-18 and 2018-19
The CGST department was gearing up all these years and providing training to its officials to undertake GST scrutinies in a professional way and now it has come up with Standard Operating Procedure.
Key Action points to be considered before filing GSTR-1 & GSTR-3B of September 2021
Finally, after facing every step of hurdle during past financial year, the final goal of every taxpayer is to assess their business records and analyze and correct the mistakes made during the past financial year either through GSTR-1 and GSTR-3B of September, 2021, following the end of financial year, being 2020- 21
Clarification On Doubts Related To Scope Of Intermediary under GST
ANALYSIS OF CIRCULAR NO. 159/15/2021- GST: CLARIFICATION ON DOUBTS RELATED TO SCOPE OF "INTERMEDIARY"-REG.
Explanation of Condition V of Section 2(6) of IGST Act, 2017
As per the Section 2(6) of IGST Act, 2017 "export of services" means the supply of any service
All About ITC under GST | An analysis
Input credit means at the time of paying tax on output, one can reduce the tax payable by taking the credit for tax paid on inputs. If you are a manufacturer, supplier, agent, e-commerce operator, aggregator or any of the persons mentioned, registered under GST, you are eligible to claim Input Tax Credit.
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