October 9, 2019
Under GST, apart from the filing of regular returns, for many other compliances, the due date is prescribed. Said due dates are very stringent. If it is not followed, then Taxpayer may be required to bear the loss in lakhs.It is observed that for said compliance of F.Y. 2017-18, many taxpayers and professionals have not
September 23, 2019
The 37th GST Council Meeting was held in Goa on 20th September, 2019 under the chairmanship of Union Finance Corporate Affairs Minister Smt. Nirmala Sitaraman.The main expectations from this meeting were decisions to be taken on implementation of new returns, GSTR 9, GSTR 9A and GSTR 9C due date and applicability and GST rate change
August 27, 2019
In the 35th GST Council Meeting held on 21st June 2019, Council has finally announced the process for implementation of New Return Forms. New return forms will contain basically 3 forms GST Anx – 1, GST ANX – 2 and GST Ret – 01. New return forms will be applicable from October 2019. Transition to
August 9, 2019
By virtue of Section 51 of CGST Act 2017, government has introduced the concept of Tax Deducted at Source under GST, unlike it is there under Income Tax. TDS refers to the tax which is to be deducted when the recipient of goods/ services makes some payments under contract. Intention behind this seems to be,
July 29, 2019
Housing society are non profit oriented organization, which works for its members. Housing, under GST, it is important that said societies should evaluate GST Impact on its activity.GST is not just on organization who are doing profit motive business, but it is also applicable to on association of person, charitable organization. There is one argument
July 6, 2019
Discount under GST is of the crushal part of GST system. It directly impact on the liability of GST and ITC.It is very usual and often that Supplier offers various kind of discounts to its Customer/dealer/retailer (referred as “dealer”), in order to incentives Sales, to offset for advertisement expense uncorrected, for reduction of sale price