The division bench of the Allahabad High Court has held that, Goods and Services Tax ( GST ) not leviable on duty free shops. The petitioner Mr. Atin Krishna submitted that due to the misinterpretation of the provisions of CGST/SGST/IGST Acts, the public exchequer is being made to suffer huge financial loss and therefore, it… Read More »
GST Exemption to Khadi readymade garments : AAR Clarified Check Amazon Today Best Deals and Offers for Saving Question Will Khadi readymade garments to be included under the entry of Khadi fabric under chapter 50 to 55 of GST classification? If not, then what is the correct classification and rate of tax on Khadi readymade garments?… Read More »
Q1 Building Repair Work Q1.1 Whether GST paid on building materials, such as cement, concrete, bricks, cement or marble or stone slabs or tiles, paint, polish and any other building materials meant for repair of building shall be available for ITC? Answer- ITC will not be available to the extent of capitalization of building materials. Q1.2 Whether GST… Read More »
Compliances of GST in Banking Sector Banking Sector plays a key role in Indian Economy. For safe and sound banking sector, one of the most crucial factors is reliable financial information supported by quality bank audits. By conducting audits of financial statements of banks, the auditors play a key role in building a resilient banking… Read More »
Gujarat High Court Octagon Communications Pvt Ltd Vs Union of India Special Civil Application No. 5873 of 2019 Date of Judgement: 18/04/2019 1. Despite service of notice, there is no appearance on behalf of the respondents No.2 and 3. 2. Uchit Sheth, learned advocate for the petitioner has submitted that there is no condition for… Read More »
GSTR-9 Offline Tool (v1.0) The excel based GSTR-9 offline utility is designed to help the taxpayer to prepare the GSTR-9 return offline. The utility can be downloaded from this link.Download Important! Before you extract the downloaded file, ensure that the file is not corrupted. How do I know that my file is not corrupt? Click here to… Read More »
No GST Late Fees for Delayed Tax payment जानिए किसके लिए और कैसे Also Refer GSTR 1 Penalty for Late Filing changes from 01.04.2019 GSTR 3B Late fees Changes from 1st April 2019 [Video]
Video Explanation of Payment of Interest under GST Until a return is filed as self-assessed, no entitlement to credit and no actual entry of credit in the electronic credit ledger takes place. As a consequence, no payment can be made from out of such a credit entry. It is true that the tax paid on the… Read More »
Services Accounting Code Introduction Under GST regime the classification of goods and services have been done depending upon the various groups formed broadly covered as HSN code and SAC code 1. What is SAC? Service Accounting Code is similar to the International HSN codes adopted by other countries across world. Similarly in GST the applicability… Read More »
Facts of the Case : The company is incorporated to provide back office support services to overseas companies (hereinafter referred to as ‘Clients’). services being offered by Appellant is a package of services, which is nothing but a composite supply, of which the principal supply is that of intermediary services. Appellant have misconstrued the definition… Read More »