Tax Deducted At Source (TDS) Under GST – With Examples

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, […]

Read More
GST on Housing Society

GST on Housing Society – July 2019 Update

Housing society are non profit oriented organisation, which works for its members. Housing, under GST, it is important that said societes should evaluate GST Impact on its activity. GST is not just on organisation who are doing profit motive business, but it is also applicable to on association of person, charitable organisation. There is one […]

Read More

Post Sale Discount – Impact on GST liability & 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 to ultimate customer etc. Some of discount are offers upfront in invoices whereas some are offered after Sale.  In this […]

Read More
35th GST Council Meeting Analysis

35th GST Council Meeting Analysis – Detailed Analysis of Decisions

35th GST Council Meeting was held at New Delhi on 21 June 2019 , after more than three months of longer gap. It was the 1st GST Council meeting  under 2nd term of Modi Govt. and also under the chairmanship of Hon’ble Finance Minister Smt. Nirmala Sitharaman.  It was one of the meeting, for press […]

Read More

GST Annual Return June 19 PR: Clarifications or more Issues?

      As we know, all the registered taxpayers have to file GSTR 9 annual return for the financial year 2018-19. The last date for filing of GST Annual return in FORM GSTR-9 is 30th June 2019. Many traders and industries have raised certain queries with respect to the filing of this Annual Return […]

Read More

Service Composition Scheme – Who Can Opt, Procedure and Returns – April 2019 Update

Background of this updateFor the Service sector, dealing with consumers directly (B2C), GST has been one of the areas of concern and hurdle for pricing and growth, since July 2017. One of the essential reasons for this is the increase in tax burden for services. In Mar 2015, the service tax rate was 12.36% which […]

Read More