GST Articles

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.

Linking of GSTR 1 (monthly) with GSTR 3B

Rohit Kumar Singh 10 September 2020 at 15:47

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.

GST Rate on Job work 12% or 18%?

CA CMA Kesava Sai RajendraKota 10 September 2020 at 09:13

“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.

A Quick view on Composition Scheme under GST

Subodh Jain 09 September 2020 at 18:08

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

Rohit Kumar Singh 09 September 2020 at 14:33

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

Ineligible ITC under GST

Rohit Kumar Singh 09 September 2020 at 10:23

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.

Monthly Recap: August 2020 GST Updates

CA Chanchal Jain 07 September 2020 at 15:16

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.