What shall be the treatment of Input Credit of old stock in Tran 1 After GST? In order to claim input of old stock in GST, you have to submit the records of the tax credits in TRAN 1 / TRAN 2. Scenarios for treatment of Input Credit of old stock in TRAN 1: Here […]
The confusion on registration for housing societies under GST is faced by many but it is clear that they have to get registered under GST. Which means if you stay in a housing society where your monthly charges in excess of Rs 5000 then brace up to pay 18% GST where the total turnover has exceeded 20 lacs.
Businesses are waiting to make the transition to the new laws under GST as we get closer to the appointed day. Clear Transitional Provision under GST is to ensure that smooth transition happens to new tax regime. Read to know the process to be followed for getting the credit.
Under various laws there is a provision of Composition scheme which is for the small businesses & in GST also to make compliance easier Composition Scheme for many startups and Small & Medium Enterprise (SMEs) has been introduced. To know where does these composition scheme applies & it’s further compliance s, read as under: Any […]
GST rate for products & services are released. For the highest category rate cess is also introduced under 1 %, 3% & 15 %.
To know under which rate your business products or services are falling read here.
In case of an importer, full input credit will be available on the IGST paid on imports and additional input credit will be available on the GST paid on all types of inputs used or intended to be used in the course of or for the furtherance of business. To know more on how CVD & SAD can be availed under GST, Read here for more
Various trade organizations argue that the government should tackle GST non compliance with soft hands initially, rather than with imprisonment, since non compliance could be erroneous rather than intentional. Here we have tried to capture all the scenarios of Offences & Penalties in GST .
The Much Awaited part of GST is released on 18th May, 2017 i.e. Item wise tax rates. On each individual GST will have an impact, our research team has presented an analysis of same & items which are exempt. Read to find out more.
Every person liable to obtain Registration in GST under schedule V shall apply for registration within 30 days from from the date on which he became liable for registration. Application for registration: Every person before applying for registration declare his PAN,Mobile No.,E-Mail address. Validation: Verification of details of PAN(through database of CBDT),Mobile(through OTP),E-mail address(through OTP) […]
Meaning of E-commerce and E-commerce operator : Under Model of GST ‘electronic commerce’ means supply of goods and/or services including digital products over digital or electronic network. Under Model of GST ‘electronic commerce operator’ means any person who owns, operates or manages digital or electronic facility or platform for electronic commerce. 2. […]