GST Articles

Mera Bill Mera Adhikaar Scheme: GST Incentive Scheme

CA Shubhi Khandelwal 30 August 2023 at 14:07

The government is set to launch "Mera Bill Mera Adhikaar Scheme", a GST Invoice Incentive Scheme that offers cash incentives to consumers for uploading legitimate GST invoices.

Less "Raksha" and More "Bandhan" on ITC to the Recipient in GST

CA Umesh Sharma 28 August 2023 at 13:07

The festival of Raksha Bandhan is around the corner, but there are many bandhans on recipient for availing ITC. How should a taxpayer take Raksha from these bandhans

Impact of insertion of Rule 88D in CGST Rules 2017

Affluence Advisory 25 August 2023 at 08:58

The captioned rule deals with differences in ITC availed as per GSTR-3B and credit reflecting in GSTR-2B of a particular period/periods.)

Reversal of ITC in case where Supplier has not remitted the tax

Affluence Advisory 24 August 2023 at 14:35

ITC reversal in the hands of recipient of goods or services in case of default made by supplier by not depositing the tax collected with the Government.

What are the Consequences of Non-Filing of GSTR-1 on time?

Abhishek Raja 12 August 2023 at 14:21

In the world of Goods and Services Tax (GST), filing accurate and timely returns is crucial for every registered taxpayer. Timely filing of GST Return is equally important as there are severe consequences not only for the Registered Taxpayer who has missed the deadline but also for the recipient of supplies.

GSTR-2A Reconciliation: A Comprehensive Guide

Nikita Agarwal 10 August 2023 at 15:21

GSTR-2A is a document generated for recipients of goods and services under the Goods and Services Tax (GST) system in India. It is an auto-drafted statement that contains the details of purchases made by a taxpayer from registered suppliers.

Taxing Credit Card Service Interest and Loan Interest - Banks Seek GST Council Clarification

Vivek Jalan 10 August 2023 at 09:08

Interest as credit card services is leviable to GST… Interest on loan is not – Banks may seek clarity from GST Council

10 Things to remember for E-Invoicing

CA Umesh Sharma 07 August 2023 at 15:32

E-invoicing is now mandatory w.e.f 01/08/2023 for all the suppliers, whose aggregate turnover in any of the previous FY starting from 2017-18 exceeds 5 crore. And if the taxpayers whose aggregate turnover exceeds 5 crore in current FY then for them E-invoicing will be applicable from next Financial year.

Recommendations of 51st GST Council Meeting

Rashmi 03 August 2023 at 14:16

In its recent 51st meeting, the GST Council proposed some important changes to the CGST Act 2017 and IGST Act 2017. These changes are aimed at bringing more clarity to the taxation of certain activities like casinos, horse racing, and online gaming.

Cross Charge under GST - Recent Developments

CA Roopa Nayak 03 August 2023 at 09:53

In this backdrop, the latest circular 199/11/2023 was issued regarding ISD mechanism, tax on the input services procured by HO for branches as well as clarifying on services supplied between branch offices of entity in different states.