GST Articles
4 Warnings in GSTR 3B w.e.f. Nov 2020 onwards, which can’t be ignored
In this article, Krishna and Arjun discuss four warnings in GSTR 3B w.e.f. November 2020 onwards, which the taxpayers can't afford to ignore and the solutions to the issues faced by taxpayers as a consequence of these warnings.
Auto Population of details in Form GSTR 3B from Form GSTR 1 and GSTR 2B
A thorough reconciliation is required on a periodical basis (monthly or fortnightly) for eliminating any eligible credit being left out of a claim of excess ITC.
QRMP Scheme - A beneficial scheme for small and middle-level businesses and traders
This new Scheme will be effective from 01.01.2021. Further, in case the aggregate turnover exceeds 5 crore rupees during any quarter in the current financial year, the registered person shall not be eligible for the Scheme from the next quarter.
Goods purchased and supplied outside India
GST is not payable on goods procured from vendors outside India, where the goods so purchased are not brought down into India.
Levy of GST on sale of developed plots
The levy of GST on development charges is a matter of dispute as sale of land per se is out of the ambit of GST law.
RCM(Reverse Charge Mechanism) under GST
Reverse Charge Mechanism was first introduced in Service Tax Law.Now, the Government has incorporated RCM in GST.
Taxability On Directors Remuneration Under GST
The issue of taxability on the director's remuneration always remains in controversy under the Service Tax as well as Goods and Service Tax Regime.
Taxability of managerial remuneration
Directors, who are not the Employee of the Company, is the remuneration paid to such independent directors, or those directors, by whatever name called, who are not employees of the said company, is taxable in hands of the company, on RCM
Measures taken in GST Audit while finalizing Books of accounts & preparation of Balance sheet
It becomes important to understand the legal provisions under GST law while finalizing books of accounts and preparation of Balance Sheet.
GST Returns to file before 30th June 2020
Various due dates of returns and compliances in many laws has been extended. Here are the GST Returns to be filed before 30th June 2020.
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