GST Rates

  • Analysis of Negative List in GST

    As Per the Schedule III of Central Goods and Service Tax (CGST) Act 2017 certain service are excluded from Preview definition of Supply of Goods or Service i.e. those certain service are neither treated as Supply of Service or Supply of Goods.


  • Input Tax Credit (ITC) in GST and Utilisation of Input Tax Credit


    Input Tax Credit (ITC) means Integrated Goods and Service Tax (IGST), Central Goods and Service Tax (CGST), State Goods and Service Tax (SGST) and Union Territory Goods and Service Tax (UGST) charged on Supply of Goods or Supply of Service or Supply of Both Made to Tax Payer to use in business and furtherance of his business i.e. Integrated Goods and Service Tax

  • Annual Return and Final Return in GST Regime



    Annual Return in GST Regime


  • Income Tax and Goods and Service Tax Compliance Applicable to Company

    Income Tax Compliance Applicable to Company 

    TDS Return for Q1: - Every Deductor who Deducted TDS in Q1 shall require to

  • Electronic Cash Ledger in GST and Utilisation of Balance in Electronic Cash Ledger


    Electronic Cash Ledger is a Cash Ledger in electronic mode on GST Portal that contains the amount of Goods and Service Tax deposited by Tax Payer in cash or any electronic mode. Electronic cash ledger is segregated in Major Head and Minor Head. Major Head is divided in IGST (Integrated Goods and Service Tax), CGST (Central Goods and Service Tax), SGST (State

  • FAQ on Levy of and Exemption from Tax- GST

    Q 1. Where is the power to levy GST derived from?
    Ans. Article 246A of the Constitution, which was
    introduced by the Constitution (101st Amendment) Act,
    2016 confers concurrent powers to both, Parliament and
    State Legislatures to make laws with respect to GST i. e.
    central tax (CGST) and state tax (SGST) or union territory

  • Enhancements in E-Way Bill Form- 01-10-2018

    Following are the enhancements done in the E-Way Bill generation Form:
    1. Display of only relevant document types in the “Document Type” drop-down list based on the selected Transaction “Supply Type” and “Sub Type” by the taxpayers.
    2. Auto-population of state name based on the pin code entered at consignor and consignee addresses.
    3. Standard rates for the tax are

  • GST- Anti-Profiteering on Sale of Flats

    While most real estate buyers have been on the fence when it comes to investments or purchases of new houses post RERA and now GST, the latter does ensure that the Input Tax Credit (ITC) benefits received by the builder are passed on to the buyer as well. Builder are expected to follow through with this, because of the anti-profiteering provision in Section 171 of the GST Act. The objective of anti-profiteering is to ensure that the

  • RFID Technology In GST E-Way Bills

    Movement Of Goods Under Supply Covered By An E-Way Bill Through ‘Radio Frequency Identification Device (RFID)’ : An Efficient Tool Of Verification Under GST Regime

    The verification of movement of goods under supply transaction in GST Regime shall now be getting electronically verified, this would be a major reform in the right direction for the smooth movement of goods in our

  • Composition Scheme Under GST Explained

    1. Who can opt for Composition Scheme?

    Businesses with annual turnover up to Rs 1.0 crore* can opt for composition scheme.

    Turnover of all businesses with same PAN has to be added up to calculate turnover for the purpose of composition scheme.

    Only Manufacturers of goods, Dealers, and Restaurants (not serving alcohol) can opt for composition

  • How to view applications & responses to queries submitted at GST Portal

    Q.1. Can I view my submitted applications or queries raised by the Tax Officials at the GST Portal?

    Ans. The View My Submissions functionality provides the taxpayers to view all the applications and responses to the queries submitted by them to the tax authorities at a single location on the

  • Challan Creation & Cancellation For Payment Under GST

    A taxpayer can create challan under GST from GSTN portal for the purpose of payment of taxes. The payment particulars have to be fed in by the taxpayer or his/her authorized person as the case maybe. It is possible to fill in the challan form partially and temporarily “save” the challan for completion at a later stage. A saved challan can be “edited” before

  • Gvat Audit For Cases Where Taxable Turnover Exceeds Inr 25 Lakhs


    Notification No. (GHN-05) VAR-2018(47) / Th Dated 19th January, 2018

    Final Return

    Every registered dealer in whose case taxable turnover exceeds rupees 25 Lacs in aggregate during the period April 2017 to June 2017 required to file Final

  • FAQ on GST in respect of Construction of Residential Complex

    FAQ on GST in respect of Construction of Residential Complex by Builders/Developers.

    S No. Questions
  • Analysis of GST on Construction of Roads and Highways

    1.0 Introduction
    The government allocates a substantial part of its disbursements towards development of roadways and has given a lot of thrust to highway-building
    initiatives in collaboration with the National Highways Authority of India (NHAI) especially in recent times. Being a booming sector, the introduction of
    Goods & Services Tax (GST) has certainly had an

  • Audit under GST- When You Might Get Audited by Tax Officers?

    Goods and Service tax or GST will be one tax to subsume all taxes. It will bring in the “One nation one tax” regime. To maintain a check and examine whether correct GST is being paid and the refund is claimed, certain taxable persons will be subject to audit under GST.

    Audit under GST 

  • Snapshot of policy initiatives & tax incentives to market India as an attractive manufacturing destination


    • Manufacturing has emerged as one of the high growth sectors in India targeting global markets and are becoming formidable global competitors.

    • India has jumped 30 places to reach the 100th spot in the world bank’s “Doing Business Report 2017” and has been one of the top improvers.

    • The country is expected to rank amongst the top three

  • Determination of Market Value for Land Acquisition

    1. Introduction
    The Government of India believed there was a heightened public concern on land acquisition issues
    in India. Of particular concern was that despite many amendments, over the years, to India’s Land
    Acquisition Act of 1894, there was an absence of a cohesive national law that addressed fair
    compensation when private land is acquired

  • Deduction of Value of Land – Notional or Actual ??

    Challenging the deemed value of land shall be far more difficult than what it seems. It shall be better if an alternate structure is adopted for transfer of land (e.g. separation of land owner and developer) to keep the fair value of land outside the ambit of GST.


    1. Paragraph 2 of the Rate Notification No. 11/2017 – CT (R) reads as

  • Eligibility, Functions, Enrollment and Filing of Returns- GST Practitioner

    The Goods and Services Tax law provides for appointment of GST tax practitioners (tax return preparer) to file GST returns on behalf of taxpayers. The taxpayer can authorize any tax practitioner approved by Government to perform GST filing activities on behalf of the taxpayer.

    In this article, we will discuss the functions of tax practitioner, eligibility criteria, registration procedure, authorization of tax