GST

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Form GST PMT-07 is now available on GST Portal If a taxpayer furnishes a monthly return without making the payment of tax due the furnished return will be considered as invalid return. So payment of taxes under the GST regime needs to be done monthly to remain compliant. It is important to note that without furnishing the…

Read More Form GST PMT-07 is now available on GST Portal

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After filing of GSTR-1 (details of outward supplies), the taxpayers should file GSTR-2. GSTR-2 is a return containing details of all inward supplies. Based on this return the Input Tax Credit that a taxpayer is eligible to avail is determined. After your suppliers file GSTR-1, the details of your inward supplies get auto-populated in GSTR-2A. All the purchases from…

Read More Filing Of GSTR 2 on GST Portal Step by Steps With Screenshots

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The Finance Minister Arun Jaitley-headed panel pushed for big changes in its 22nd meeting to iron out rough edges of the new tax system that has been hit by multiple pain points since it was rolled out on July 1. The Goods and Services tax (GST) council on Friday cut rates on 27 items and…

Read More Full list of revised GST rates for 27 goods and 12 services at 22nd GST Council meeeting on 06-oct-2017

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  a) In view of the difficulties being faced by taxpayers in filing returns, the following revised schedule has been approved: Sl. No. Details / Return Tax Period Revised due date 1 GSTR-1 July, 2017 10-Oct-17 For registered persons with aggregate turnover of more than Rs. 100 crores, the due date shall be 3rdOctober 2017…

Read More Due Date For GSTR-1-2-3-4-6 Extended For July 2017 Once Again

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THE CONSTITUTION (ONE HUNDRED AND FIRST AMENDMENT) ACT, 2016                            A-1–A-11   THE CENTRAL GOODS AND SERVICES TAX ACT, 2017                                                               1–666 CHAPTER I: PRELIMINARY                                                                                                                        1–51 Shorttitle, extent and commencement                                                                                              1 Definitions 2 CHAPTER II: ADMINISTRATION                                                                                                              52–56 Officersunder this Act                                                                                                                        52 Appointmentof officers                                                                                                                      53 Powersof officers                                                                                                                               54 Authorisationof officers of State tax or Union territory tax as proper officer in certain circumstances                                                                                                                    55 CHAPTER III: LEVY AND COLLECTION OF TAX                                                                                  57–119 Scopeof supply                                                                                                                                  57 Taxliability on composite and mixed supplies                                                                             57 Levyand collection                                                                                                                            57 Compositionlevy                                                                                                                                78 Powerto grant exemption from tax                                                                                                  87 CHAPTER IV: TIME AND VALUE OF SUPPLY                                                                                     120–158 Timeof supply of goods                                                                                                                  120 Timeof supply of services                                                                                                              130 Changein rate of tax in respect of supply of goods or services                                              137 Valueof taxable supply                                                                                                                   146 CHAPTER V: INPUT TAX CREDIT                                                                                                        159–204 Eligibilityand conditions for taking input tax credit                                                                    159 Apportionmentof credit and blocked credits                                                                               166 Availabilityof credit in special circumstances                                                                             172 Takinginput tax credit in respect of inputs and capital goods sent for job-work                  186  …

Read More E-BOOK ON GST LASTEST UPDATED PDF AUGUST 2017 MRP-800 (24.08.2017)