GST Articles

ITC on Lift available or not under GST?

ca.sanjeev kumar 15 September 2020 at 16:34

The applicant in the instant case shall not be entitled to avail input tax credit of tax paid on procuring the lift to be installed in the hotel building which in turn is intended to be used for providing taxable service, in terms of section 17(5)(d) of the CGST Act 2017.

How To Cancel GST Registration?

Praveen Singh 15 September 2020 at 09:09

Taxpayers who have already registered under the GST Act can apply for cancellation of GST registration any time if they think they should close their business or in case any situation arises. Once the registration is cancelled it is no longer required to pay tax or collect tax from ordinary people.

This September - Tarikh pe Tarikh!

CA Umesh Sharma 15 September 2020 at 09:06

Krishna, half-year of 2020-21 is about to end. Along with the same, there are many due dates to be complied with in the same month. Please tell me which are those due dates? asks Arjuna

Credit & Debit Notes: Section 34 of CGST Act 2017

CA Santhosh Gupta Kethepalli 15 September 2020 at 09:06

Any registered person who issues a credit note in relation to a supply of goods or services or both shall declare the details of such credit note in the return for the month during which such credit note has been issued

FAQs on GST e-invoice/IRN System

Suhasini 14 September 2020 at 12:48

e-invoicing means the invoice shall be prepared after obtaining an Invoice Reference Number (IRN) by uploading specified particulars (in FORM GST INV-01) on the notified Invoice Registration Portals (IRP).

Interest on Net Tax Liability under GST - Light at the end of the Tunnel?

CA Venkatprasad Pasupuleti 12 September 2020 at 10:55

The interest liability for any belated remittance is an economic consequence. The tax laws are no exception to this rule. GST law provides for interest @18% on the delayed remittance of the tax after due date.

All about Non-resident taxable person in GST

Mita Basak 11 September 2020 at 17:27

Non-resident taxable person means any person who occasionally undertakes transactions involving supply of goods or services or both, whether as principal

Glimpse on Refund of unutilised Input Tax Credit (ITC)

Mita Basak 11 September 2020 at 17:27

GST Law permits refund of unutilised ITC in two scenarios, namely if such credit accumulation is on account of zero rated supplies or on account of inverted duty structure, subject to certain exceptions.

Recovery of Transportation charges by employer from employees not taxable, ITC to extent of transportation cost borne eligible

Bimal Jain 11 September 2020 at 17:13

Recovery of Transportation charges by employer from employees not taxable, ITC to extent of transportation cost borne eligible

All about input tax credit under goods & services act

Praveen Singh 11 September 2020 at 09:32

Input Tax Credit or ITC is a credit that can be used to pay off the tax liability of registered taxpayers. It is a tax paid by the person registered under the GST Act when he purchases goods or avails any services from a registered taxable person.