November 12, 2019
On 9th October, 2019, various notifications were issued by the CBIC. One such notification was Notification number 49/2019, through which CGST Rules, 2017 were sought to be amended. One such amendment was with respect to insertion of Sub-rule (4) to Rule 36 of the CGST Rules.The newly added Sub-rule states that – “Input tax credit
October 2, 2019
Input tax credit is credit available on purchase of goods or services or both against GST payable.As per section 18 of Central Goods and Service Tax, 2017, certain circumstances have been defined where input tax credit may be availed. Special cases under which ITC can be claimed Compulsory Registration When a person applies for registration
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 26, 2019
Table of Contents APPLICABLE PROVISIONS:OLD ITC UTILIZATION Vs NEW ITC UTILIZATIONMANNER OF ITC UTILIZATION AS PER NEW METHOD:MATRIX OF ITC UTILIZATION AS PER NEW METHOD:Example:STRATEGIES OF ITC UTILIZATION:Claim upto 100% Input Tax Credit Even though GST is single Tax System, but it has ingredients of 3 Taxes ( CGST / SGST / IGST ) and
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
May 20, 2019
GSTR 9 Part III section consists of details of all input tax credit availed and utilised/ reversed in the financial year for which GSTR 9 is to be filed. All details with respect to Input tax credit shall be reported under Table 6, 7 and 8 of Part III of GSTR 9. Detailed analysis as