Exporters advised to file Table 6A and GSTR 3B for processing of IGST Refund and for Refund of the unutilized Input Tax Credit; Errors by exporters while filing their returns are the sole reason for delay in grant of refunds or rejection thereof; The Government of India has taken various measures to alleviate difficulty and… Read More »
GSTR 2A 1. What is GSTR 2A? GSTR 2A is a system generated ‘draft’ Statement of Inward Supplies for a receiver taxpayer. It is auto-populated from the Form GSTR-1/5, Form GSTR-6 (ISD), Form GSTR-7 (TDS), and Form GSTR-8 (TCS), filed/ submitted/ uploaded by the supplier taxpayer, from whom goods and/or services have been procured or… Read More »
Government appoints Shri B.N. Sharma (IAS:1985) as Chairman of the National Anti-profiteering Authority under GST In an immediate follow up action of last week’s Cabinet approval for creation of the posts of Chairman and Technical Members of the National Anti-profiteering Authority under GST, the Government today issued orders appointing senior IAS officer Shri B.N. Sharma,… Read More »
Rs 83,346 crores collected under GST for the month of October 2017, received in November (upto 27th Nov 2017) A sum of Rs 83,346 crores has been collected as Total Revenue Collection under GST for the month of October, received in November till 27th November 2017. 95.9lakh taxpayers have been registered under GST so far, of… Read More »
41 GST FAQ Question 1: Is ITC available on vehicle taken on lease for employee in a manufacturing company? Answer: No. It is not allowed as per section 17(5) of CGST Act, 2017. Question 2: We are dealers having more than 1.5 crores turnover. Whether GSTR-1 return to be filed for every month of July-October, 2017… Read More »
Available Functionality for Tax Payers in GST Portal as on 22.11.2017 Related Topic on GST Topic Click Link GST Acts Central GST Act and States GST Acts GST Rules GST Rules GST Forms GST Forms GST Rates GST Rates GST Notifications GST Act Notifications GST Circulars GST Circulars GST Judgments GST Judgments GST Press Release… Read More »
FAQs on ethical issues relating to GST for Chartered Accountants by ICAI [ by Institute of Chartered Accountants of India] 15.11.2017 Q1. Whether a member in practice can engage as GST practitioner? A. Yes, a member in practice can engage as GST practitioner , as the activities to be performed by GST practitioner mentioned in… Read More »
ERROR in availing ITC through TRAN-1 Problem Statement: The Taxpayers are not able to avail their ITC through Trans-1. Requirement to avail ITC Service Tax No./Central Excise No./VAT/TIN is required to be added on the Business details Tab through Non-Core Amendment form through Non-Core Amendment form Error encountered: – Such Taxpayer getting Error “System Error… Read More »
The Central Government appeals to the Industry Leaders to pass on the benefit of GST Rate reduction to the consumers as it is expected to encourage domestic demand and investment among others. The GST Council in its 23rd Meeting held on 10th November, 2017 at Guwahati, has recommended the reduction of the GST rate from… Read More »
Shri Ram Vilas Paswan grants permission to display revised MRP due to reduction of rates of GST up to 31st December, 2017 On account of implementation of GST w.e.f. 1st July, 2017, there may be instances where the retail sale price of a pre-packaged commodity is required to be changed. In this context, Union Minister… Read More »