The Central Board of Indirect Tax and Customs (CBIC) introduced “Manual check” for its Customs and GST formation before the issuance of IGST refunds.
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GST council have made amendments that mandates timely and apposite maintenance of account books and ledgers by a taxpayer registered under GST rules.
The GST Council meeting held today under the chairmanship of newly elected Union Finance Minister Mrs. N Sitharaman was long awaited by the tax community.
The taxpayer can adjust these GST liabilities with the available ITC and/or pay the balance through the electronic cash ledger.
While we have already covered the GST registration process and management process in our previous articles, let us look at the payment process under GST.
8th August 2018, Kerala witnessed the worst flood in the century, affecting over one-sixth of the total population of the state.
A registered taxpayer under GST can be liable to following offences and penalties for non-compliance to GST regulations:
The Annual Return in the form GSTR-9 for FY 2017-18 is to be filed by 30th June 2019. However, there have been many inconsistencies in the form requiring suitable amendment therein.
ACES or Automation of Central Excise and Service Tax is a centralised, web-based software that allows a user to automate the processes of Central Excise (CE) and Service Tax (ST) under GST.
The GST Act and rules made there under does not restrict the recipient from claiming the ITC when consideration is paid through book adjustment.
Need for IRIS Garnet - Large businesses spread across multiple locations face real problems while preparing their GST data.
In order to simplify the taxation process and the cash flow, the GST returns have been segregated as per taxpayers’ registration and business types. Different types of return forms under GST are as follows..
