GST Articles

Composition Scheme - An Overview

Posted by Aarti Maurya 22 February 2022 7291 Views

The composition levy is an alternative method of levy of tax designed for small taxpayers whose turnover is up to prescribed limit.

Conditions for claiming ITC under GST

Posted by Aarti Maurya 19 February 2022 25767 Views

"Input tax" in relation to a registered person, means the central tax, state tax, or union territory tax charged on any supply of goods or services or both made to him, it does not include the tax paid under the composition levy. "Input tax credit" means the credit given on input tax.

The Curious Case of Missing Elaichi (Cardamom) in my Paan (Betel Leaf)

Posted by Mayank Mohanka 17 February 2022 8547 Views

(Ramu Kaka, please give me my special sweet Pan, without betel nut)", I told our next door ‘Pan wala' (Pan vendor), Ramu kaka, while returning from my late evening stroll, after my dinner.

Demystifying GST on developed plots

Posted by Abhishek Raja 16 February 2022 15222 Views

In India, Real Estate Sector is the second largest employer after agriculture. In GST regime, there is no concept of manufacture, sale or service etc. There is only one concept i.e. "Supply". All the Supplies are categorized as either 'Supply of Goods' or 'Supply of Services'.

Implications of GST fraud and non-fraud cases

Posted by Shivani Dundlodia 15 February 2022 5596 Views

Fraud and non-fraud cases are different from one another, and hence the tax and penalty amount with its provisions are also different. Let' s find out what are the implications of both fraud and non-fraud cases in GST.

Proposal to move towards Digital Input Tax Credit

Posted by Member (Account Deleted) 14 February 2022 8763 Views

Honorable Finance Minister had declared the Finance Budget of 2022-23 on 01st February in the Lok Sabha and proposed to substitute section 38 by the finance bill 2022. What is the major change proposed between old section and new proposed section?

Analysis of GSTR 9 & 9C

Posted by Sudeep K 09 February 2022 41271 Views

The basic understanding of the adjustments, reconciliations that are to be performed while filing an annual return and reconciliation statement (GSTR 9 & GSTR 9C resp.) are covered in this article.

Budget 2022: Major changes in GST Act 2017

Posted by FCS Deepak Pratap Singh 05 February 2022 15703 Views

The Union Budget-2022, presented by Finance Minister Mrs. Nirmala Sitaraman is a non-political and one of the best budgets presented for India. This Budget is a growth oriented and the government has presented it keeping in mind 25 years roadmap of development of India.

New Role of E-commerce Operators in Restaurant Services

Posted by CA Reema Sonigra Mehta 04 February 2022 6461 Views

Vide this Notification effective from 01.01.2022, even the 'restaurant services' have been dragged under the provisions of Section 9(5) of the CGST Act (which deals with E-commerce operators).