• Who is liable to be registered under GST and what is its time limit?

    Who is liable to be registered under GST?

    A person would be liable to be registered in GST if he is making a taxable supply of goods or services or both and his aggregate turnover under same PAN in the entire country exceeds the threshold limit of Rs. 20 lakh (for

  • Taxes and levies that will be subsumed under GST

    What are the taxes and levies that will be subsumed in GST?

    Following are the taxes and levies that will be subsumed under GST:

    1.      Central Excise Duty


    What to do for GST?

    With the enactment of the GST laws, the introduction of destination based taxation GST would replace Excise, Service Tax, VAT, etc.

    Reverse Charge Mechanism in GST

    Reverse Charge Mechanism in GST


    Meaning of

  • Impact of GST on Importers

    Presently, the customs duty is having three major components





  • Analysis of RCM under GST in case of purchase of goods or service from unregistered dealer

    Analysis of RCM under GST in case of purchase of goods or service from unregistered dealer

    The relevant sections and notification are produced below. Readers are advised to go through the examples which are given at the end after reading the bare section and

  • Types of GST Returns or Forms Currently Functional

    GSTR 1:- GSTR 1 is monthly or Quarterly (Based on turnover) Return for all supplies made by a regular tax payer. Registered person having turnover more than Rs. 150 lakhs or Rs. 1.5 crore required to file monthly GSTR 1 and a registered person having turnover up to Rs. 150 lakhs or Rs. 1.5 core required to file quarterly GSTR 1. E-

  • Step by Step Guide to E-Way Bill System

    E-Way Bill is Replacement to old system of Delivery Challan System. E-Way Bill is fully online Process from Registration to E-Way Bill Generation. E-Way bill works on Android and Web Based system. E-Way Bill works in four types of methods such as Web System, SMS System, Bulk Generation System and API System.

    Registration Process

  • Recent Updates in Goods and Service Tax – GST

    Applicability of E - Way Bill on Inter State Basis from 1st April 2018:-

    From 1st April 2018 E – Way Bill

  • 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.


  • Composition Scheme under Goods and Service Tax

    To Reduce Burden of More Compliance of Law and Regulation under Goods and Service Tax Composition Scheme was introduced by Government of India for Small Businesses. It helps small businessmen to concentrate more on business rather than Compliance of Goods and Service Tax. Composition Scheme is defined under section 10

  • Supply in Goods and Service Tax

    Supply means and includes all forms of supply of goods and/or services such as sale, transfer, barter, exchange, license, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business.

    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

  • 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

  • Understanding Demand for Tax under GST

    Taxes whether Direct or Indirect, are the main source of revenue for the government. So, it has to make sure that it gets this revenue either voluntarily or forcefully. Even though Goods and Services Tax is a newly introduced tax, the government has got all its bases covered when it comes to the collection of the tax. Provisions for raising the demand for tax and recovering it where its unpaid have been prescribed in the GST Act. GST

  • GST Notification in Textile Industry On Inverted Tax Structure

    Introduction Based on the recommendations of the 28th GST Council Meeting held recently, the Board has issued the Notification bearing No. 20/2018 dt 26th July 2018 to give effect to refund the unutilized input tax credit (ITC) on account of inverted tax structure on textile products from 01.08.2018 for certain commodities, but all the inward supplies received upto the 31st day of July 2018, shall lapse, after payment of tax for and