To be taxable in the GST regime, the scrap does not have to pass the test of manufacture or mechanical process. Here's all about Scrap sales in GST, HSN Code and GST Rates of the Scrap material etc. Read on…
A secure & comprehensive GST software is necessary to ease the filing hassles and but also to acquire data, reconcile, and for ITC claim etc. Here’s how a GST software can simplify your GST Compliance with 100% accuracy.
Here’s a simple 9 step guide that every CEO and CFO must follow and take care of in a crisis situation like COVID-19 lockdown to maintain their team’s productivity and boost their morale. Read on…
We have been, hopefully, proactive in battling the virus, can we be equally so in taking care of the micro, small and medium businesses? In short, we need business ventilators in operation which will pump in funds to enhance staying power.
The taxpayers and the GST authorities have had multiple encounters with such technical glitches, which has led to erroneous or missed filings. Thus, in order to address such issues on the GST portal, an IT-Grievance Redressal Mechanism was introduced in April 2018.
When a taxpayer resets his GSTR 3B, the filings status of the form changes from “Submitted” to “Yet to be filed”. The facility also deletes all the entries posted in the electronic liability registers and reverses the ITC integrated with the electronic credit ledger.
We have covered how an appellant can raise an application to a higher court/authority for the reversal or revision of an order, as passed by a lower court/authority.
The Section 168 of CGST Act 2017 covers all the details for Power to issue instructions or directions GST Act 2017.
GST Appellate Tribunal (GSTAT) or simply the Appellate Tribunal is the second appeal forum under GST i.e. for any dissatisfactory order passed by the First Appellate Authorities, an application for revision of the same can be raised to the National Appellate Tribunal.
GSTR 3B is a monthly self-declaration form that a taxpayer is required to file on a monthly basis. Form GSTR 3b consists of summarized details of supplies made during the month along with the details of paid taxes, ITC claimed, purchases under reverse charge mechanism, etc.
An audit is a term that is generally used for official inspection and verification of documents by an Independent body, usually for financial accounts.
Payment Voucher under Reverse Charge Mechanism in GST is a proof of transaction between taxpayer and unregistered supplier.
