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;
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.
As per the proposed plan, a lottery scheme shall be introduced to lure taxpayers to pay their GST. For the initial period, the GST panel shall hold daily and monthly lotteries for customers who indulge in a B2C transaction and take a copy of the bill after paying applicable GST.
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
CBIC mandates every registered person to specify Place of Supply with the name of State in tax invoice in case of inter-State supply
Some Key Changes in the Relevant Sections of CGST Act 2017 that are to be replaced with the Central GST Amendment Act 2018
GST Applicable on the activities performed by employees at corporate office in the course of or in relation to employment such as accounting, other administrative and IT system maintenance for the units located in the other states
It is important to compare invoices, which itself could run into large numbers, and identify the matches and differences. It is also necessary that the differences itself are analysed so that the corrective actions can be taken.
The provisions related to tax deducted at source, tax collected at source and reverse charge mechanism under GST have been deferred for another three months till Sept 30, 2018.
The GST legislation contains an anti-profiteering clause which mandates manufacturers and others in the supply chain to pass on the benefits arising due to GST transition to consumers.
The Lok Sabha will be discussing four GST bills i.e. CGST, UTGST , IGST and Compensation today. Read key changes between what was proposed as the Model Draft GST Law.
