Outward Supplies under GST & their reporting plays a very major role for both the Supplier & the Receiver while filing GST Returns.The introduction of the New GST Return System has brought changes & additions to the existing reporting pattern of outward supplies.These Changes will have a variety of effects on Businesses.All this & more …
Exports, Supplies to SEZ developers/units, Zero-rated supplies & Deemed exports are some special types of supplies under GST. These supplies usually don’t attract GST Liabilities & even when it does, a refund of the same can be claimed by the Taxpayer.The claiming of the GST Refund on Exports or Zero-rated supplies will revamp in the …
Reverse Charge Mechanism under GST is a mechanism under which the usual cycle of tax payment is reversed. In the normal system, the recipient of goods will pay the value of the goods & relevant taxes on it to the supplier who then pays the GST to the Government.Under Reverse Charge, the recipient pays to the …
The 40th GST Council Meeting was held in New Delhi under the chairmanship of Honorable Finance Minister Nirmala Sitharaman, through video conference & comprised of the counterparts form the States & UTsThe 40th GST Council Meeting has made the following recommendations on Law & Procedures changes- June 12th, 20201.Relief for Small Businesses- For all Businesses …
e-Invoicing under GST is dated to implement from October 2020 along with the New GST Return System, it is already in the word that both the New Systems are going to bring along massive changes to the current system.Various domains under GST such as e-Way Bill System, Reverse Charge, Reporting of Invoices, availing Tax Credits, etc. are …
