GST Articles

20% Formula for Input Credit - Is History repeating itself?

Seetharaman K C 23 October 2019 at 11:54

The Central Board of Indirect Taxes and Customs issued notification no 49/2019 dated 09-10-2019, amending the rules for claiming Input Tax Credit wherein the government has capped the ITC that a registered person can claim.

Steps to generate e-invoice under GST

CA Ruchika Tulsyan 22 October 2019 at 11:02

Background: GST Council in its 37th Council meeting held on 20 September 2019 approved the standard of E-Invoice and it has been publish on GST portal.

GSTR 9 Annual Return Filing - You Can't Ignore These 6 Critical Steps

GST Hero 21 October 2019 at 16:30

It has been clarified by the Government that one should take GSTR 3B as a base while filing GSTR 9. To simplify GSTR 9 filing process, one must follow the steps which has been mentioned in this article.

LUT Facility extension for MSME and Small scale units

Seetharaman K C 21 October 2019 at 10:57

In the erstwhile Central Excise and Service Tax regime the benefit of claiming export exemption was also available down the line to MSME and small scale suppliers of goods and services who supply goods and/or services to the primary suppliers supplying to exporters and sez's.

General GST Provisions for MSME Sector

CA Ruchika Tulsyan 21 October 2019 at 10:57

Many decisions have been taken by the GST Council in its various meeting for the betterment and befit of MSME Sector.

Summary of recent GST notifications issued on 9th October 2019

CA Purva Dhoot 16 October 2019 at 12:19

The article summarizes the GST notifications issued on 9th October 2019

How to Earn More from ITC Reconciliation with minimum efforts?

GST Hero 15 October 2019 at 11:36

Today, most of the tax professionals are not doing Input Tax Credit reconciliation for their clients. It is understandable that doing ITC reconciliation for all the clients is very time consuming and the fees received from the client may not be sufficient.

A complete understanding of Place Of Supply(POS) Under GST

CA Vivek chaudhary 14 October 2019 at 11:48

Understanding of Place of Supply is imperative to decide whether a particular transaction is inter-state or a intra state transaction. If we identify a particular transaction as inter or intra state then we have to charge CGST & SGST/UTGST in case of intrastate transaction and IGST in case of Inter-state transaction otherwise than any exemption is available.