GST Articles

Documentation under GST audit

CA Subba Reddy Bonam 02 September 2019 at 10:59

Audit documentation is the written record (including electronic record) prepared during the course of audit which forms foundation for auditor's in preserving the various observations identified during the audit, acts as a proof of performance of audit and safeguard the auditor at the time of dispute.

Interest/late fees for services of pre-GST era, received after 1st July 2017, are liable to GST

Bimal Jain 31 August 2019 at 16:56

The AAR, Tamil Nadu in the case of M/s Chennai Port Trust has held that the amounts received on or after July 1, 2017 towards interest, late fees, penalty relating to services of lease/rent, due to delayed payment of consideration for those services rendered by Applicant before July 1, 2017, are liable to GST.

GST leviable on Mobilization Advance as on July 1, 2017 received for works contract service: AAR

Bimal Jain 31 August 2019 at 11:21

The West Bengal AAR in the matter of Siemens Ltd. has ruled that the Applicant is deemed to have supplied works contract service to KMRCL

Revised Return Filing system under GST

Mandli Ravi Tej 31 August 2019 at 11:21

Government has announced the new return filing system under GST which is simpler than the existing system and can be termed as GST 2.0.

Note on Legacy Dispute Resolution Scheme, 2019

Rohit Kumar Singh 30 August 2019 at 11:02

Note on Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 and Rules thereon

GSTR 9C form filing with easy-to-understand notes

CA Krishnakumar M 27 August 2019 at 18:57

Parts of GSTR 9C Reconciliation Statement, Certificate, Reconciliation Statement, Reconciliation of Turnover in Financial Statements with GSTR 9

Extension of GST Annual Return: Much needed relief

Guest 27 August 2019 at 10:03

The Central Board of Indirect Taxes and Customs on the 26th August,2019 vide Order No. 7/2019-Central Tax extended the due date to file GSTR-9/9A/9C from 31st August 2019 to 30th November 2019.

Bombay HC issues notice in writ challenging Rule 89(5) denying refund of 'input services' under inverted duty structure

Bimal Jain 26 August 2019 at 15:08

Facts:M/s Raymond UCO Denim Private Limited ('Raymond' or 'the Petitioner'), approached the Hon'ble Bombay High Court challenging the vires of Rule 89(5) of the CGST Rules, 2017('CGST Rules') on the ground that it runs contrary to the provisions of S

Reversal of Input Tax Credit Availed under GST Regime

Dilip K Raina 26 August 2019 at 10:54

One of the major steps to curb false/fraudulent claims of input tax credit was initiated under Goods and Services Tax regime by introducing a procedure to reverse the amount of input tax credit availed within 180 days in case no or part payment is made to the supplier of goods or services with interest as notified under section 50(1).

Need Valuation. Whom should I approach?

CMA Harshad S Deshpande 26 August 2019 at 10:54

Valuation refers to calculation of value of business/ underlying asset / liabilities of entity. One of key factors which drives valuation process is purpose. The Valuation approach will depend on the purpose for which the valuation is done.