GST Articles

Concept of TCS and practical issue under GST

Posted by CAJayprakash Pandey 17 May 2021 5370 Views

This article will help you to solve your problems related to 2 important areas under GST i.e. Concept of TCS and related Provisions and Practical Problem/Doubts regarding it.

Non-Payment of Tax to the Government - Is the Seller liable or the Buyer?

Posted by CAJayprakash Pandey 15 May 2021 12213 Views

Madras High Court has given relief to the genuine buyer that the seller must be examined in such cases and recovery proceedings must be initiated against the seller.

Recent GST Notifications issued by CBIC

Posted by CAJayprakash Pandey 14 May 2021 10103 Views

The Central Board of Indirect Taxes and Customs has issued various relaxations under the GST Law, keeping in lieu the drastic effect of COVID-19. Discussing the same in this article.

GST relaxations during COVID period

Posted by CAJayprakash Pandey 14 May 2021 19168 Views

Discussing all the relaxations given by the Central Board of Indirect Taxes and Customs, under the GST Law keeping in view the effect of the second wave of the COVID-19 pandemic.

Impact of GST on Accounting & Financial Statements

Posted by CAJayprakash Pandey 13 May 2021 10123 Views

Discussing the impact of GST on Accounting and Financial Statements w.r.t the 4 types of levies under the GST Law, i.e. CGST, CGST, IGST and Compensation Cess....

GST Basics

Posted by The Consultant Guru 13 May 2021 3201 Views

GST was introduced on 1st July 2017 to replace various indirect taxes like VAT, Service Tax, Excise, Customs and all the other indirect taxes. Let us understand the basics of GST.

Interest on Reversal of Unutilized ITC

Posted by CA PIYUSH KAPOOR 09 May 2021 7736 Views

There is no specific mention of Interest on Unutilized Credit reversal. Rules marked regarding the charging of Interest u/s 50 (1) cannot override the section in which there is no Interest mention on reversal of unutilised ITC.

GST on Inter Corporate Guarantees

Posted by CA Subba Reddy Bonam 08 May 2021 8104 Views

A corporate guarantee is a contract between a corporate entity or individual and a debtor. The supply of corporate guarantee is a supply of service, accordingly liable to GST.

Rule 86B: Analysis of Rule mandating the payment of GST in cash irrespective of availability of ITC

Posted by Suyash Tripathi 07 May 2021 11268 Views

CBIC has introduced a new rule 86B under Goods and Services Tax which restricts the use of input tax credit for discharging liability to 99%. The Rule is effective from 01st January 2021.

GST Compliance Relaxation in GST Regime issued on 1st May 2021

Posted by Suhasini

06 May 2021 5028 Views

In a bid to provide relief to COVID-19 hit businesses, the finance ministry had on 1st May, 2021 notified nine changes in the compliance requirements under the Goods and Services Tax (GST) regime.