The first section relates to the comparison of credit availed on forward charge by the taxpayer with the credit available as per inward supply uploaded by the suppliers in GSTR 1, duly reflected in GSTR 2A.
The GST Act and rules made there under does not restrict the recipient from claiming the ITC when consideration is paid through book adjustment.
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Hyderabad, Apr 23 In a move that would have a significant impact on businesses that use tax credits available on inputs and raw materials to reduce payment in cash.
A registered taxpayer will not be eligible to generate e-way bill on the GST portal if the taxpayer: Paying tax under composition scheme has not furnished the returns for two consecutive tax period;
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simplify tax returns and enable a fairer taxation system, the GST council has put their best foot forward effective April 1, 2019. Now as the fiscal year 2018-19 approaches its end, a new page awaits to be written.
Advance Ruling under GST refers to a decision provided by the authority or the appellate authority to an applicant on matters or on questions specified in sub-section (2) of section 97 or sub-section (1) of section 100 in relation to the supply of goods or services or both being undertaken or proposed to be undertaken by the applicant.
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1st April 2019, any person who is engaged in exclusive supply of goods and whose aggregate turnover in the financial year does not exceed forty lakh rupees is exempt from obtaining the registration under GST Act except for the following
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