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  • Handbook on GST DRC-22

    Filing Reply for Form GST DRC-22
    GSTR-22 is a form used by the concerned authorities for provisionally attaching the properties, bank account etc of the taxpayer. This article guides such taxpayers on filing reply to form GST DRC-22 against the proceedings

  • Zero Rated Supplies- Impact On GST


    Any supplies made by a registered dealer as an export (both goods or services) or supply to an SEZ qualifies for Zero Rated Supplies in GST. The rate of tax on such supplies is ‘Zero’ or we can say the supplies are tax-free.

    The supplies to a developer of an SEZ is also covered under Zero-Rated Supplies in GST as no tax is levied on these supplies as

  • Handbook on GST DRC-20, Chapter 18 – Demands and Recovery

    Notice and Order for Demand of Amounts Payable Under the Act
    (1) The proper officer shall serve, along with the (a) notice under sub-section (1) of section 73 or sub-section (1) of section 74 or subsection

    Guide on DRC-03: Applicability and Procedure to pay Additional Tax

    What is form DRC-03?

    DRC-03 is a payment form in which a taxpayer can pay the tax by raising its liability voluntarily or in response to the show cause notice (SCN) raised by the Department. Below is the format of Form

  • Note on How to Claim Online Refund of ITC Accumulated Due to Inverted Tax Structure

    The term Inverted Tax Structure refers to a situation where the input GST rate (i.e. GST rate paid on inputs received) is more than the output GST rate (i.e. GST rate payable on outward supplies). Simply speaking, a taxpayer will end up paying more tax on purchases when compared with the tax on sales.

    The taxpayer is eligible for the refund of accumulated input tax credit (ITC) due to the inverted tax structure. Form RFD-01 has to be

  • Note on Forms for application of refund under GST

    1. Form GST RFD-01
    Any person claiming the refund of the tax, interest, penalty, fees paid by him has to file Form GST RFD-01 electronically through the common portal either directly or through a Facilitation Centre notified by the Commissioner except the following:

    Any specialized agency of the united nation organization
    Multilateral Financial Institution
    An organization under the United Nation

  • Guide on QRMP(Quarterly Return Monthly Payment) Under GST

    1. Quarterly Return Monthly Payment Scheme (QRMP) is a scheme notified by the Government allowing a registered person having aggregate turnover up to five (5) crore rupees to furnish return on a quarterly basis along with monthly payment of tax. CBIC vide circular no. 20/01/08/2020- GST dated 10 November 2020 clarified various issues related to the QRMP scheme

    2. Effective Date – The scheme will be implemented with effect from 01 Jan

  • A Guide on Job Work Under GST India

    What is job work?
    Job work means processing or working on raw materials or semi-finished goods supplied by the principal manufacturer to the job worker. This is to complete a part or whole of the process which results in the manufacture or finishing of an article or any other

  • Article on GST Notification issued on 10-11-2020

    CBIC has issued various notifications yesterday i.e on 10th Nov, 2020 amending various rules in respect of return filing. A summary of the same is as below:

    ♦ Notification No. 82/2020 – Central Tax

    All About Decoding Section 16(4)- ITC on CGST, SGST & IGST

    Goods and Service Tax has brought the ray of hope of increased revenue for Government and elimination of cascading effect of multiple taxes and simple tax structure for Assessees. GST has now become a reality and it will finally be implemented with effect from July 1, 2017. With only less than 6 months left, it is important for all the stakeholders to be familiar with GST provisions. In this article, author has tried to articulate the basic

  • New GST Return Filing Scheme-2021

    Pre-filled tax forms and greater transparency requirements are coming to businesses in 2021, with the Goods and Services Tax (GST) Council clearing key changes to the return filing process on Monday.

    Monthly GST returns of businesses giving summary of all transactions in the

  • Upcoming Amendments in GST- Full Version

    Recent notifications from CBIC dated 10th November 2020 tend to implement several amendments pertaining to returns to be filed by the registered persons. Being most of the taxpayers are choked with GST – annual returns, ITR filing, day-to-day business chores, etc. This article summarizes the amendments notified in a lucid way.

    For the better purpose of understanding, we have discussed the amendments one by one pertaining

  • Articles on RCM Expenses List Under GST

    Reverse Charge under GST is a very important topic. There are certain goods & services which attract reverse charge. However, this is not all.

    As per Sec 9(4) of CGST Act, if a registered person purchases goods/services from an unregistered dealer (URD) then the

  • Article on GST Provisions & Applicability to Professionals in the Legal Sector

    1. Legal service
    It means any service provided in relation to advice, consultancy or assistance in any branch of law, in any manner and includes representational services before any court, tribunal or authority. Examples of legal services may include representation before court, provide law advice, carrying out litigation and so on.

    Exemptions and other provisions in respect of Legal Services are used only in the context of

  • Article on GST Impact on Healthcare Industry in India

    Goods and service tax is a major factor which has a potential to cover the economic base of the country along with its sidelines also India is not just one of the biggest performing nations for generics, however additionally encountering a blast in remedial tourism which creates extra returns for the Healthcare Industry. India’s Pharmaceutical

  • FAQs on FORM GST ITC-04 Offline Utility

    1. What are the features of FORM GST ITC-04 Offline Utility?
    The Key Features of FORM GST ITC-04 Offline Utility are:
     The ITC-04 details can be prepared offline with no connection to Internet.
     Most of the data entry and business validations are in-built in the offline tool reducing
    errors upon upload of file on the GST

  • GST on Tour Operative Services

    Definition of Travel agents and Tour operators
    “Travel agents” or “Tour operator” are the person who is engaged in the business of planning, organizing, scheduling or arranging tours that also includes the accommodation along with the mode of transportation. Tour Operators are defined based on the entry No. 23 of notification No. 11/2017-Central Tax (Rate).

    Tour Package is the total booking mainly done by modern tour operator

  • GSTR-4: Return Filing, Format, Eligibility & Rules


  • Article on Reversal of ITC after legal availment under GST

    While paying taxes to the Government, businesses can use the credit of GST paid on the purchases like raw materials/services used for manufacturing or selling products. It is known as an Input tax credit (ITC). If the input tax credit is wrongly claimed, then it should be reversed by making payment to that extent next month.

    FAQ On Valuation in GST

    Q 1. What is the value of taxable supply to be
    adopted for the levy of GST?
    Ans. The value of taxable supply of goods and services shall
    ordinarily be ‘the transaction value’ which is the price paid
    or payable, when the parties are not related and price is the
    sole consideration. Section 15 of the CGST/SGST Act