Provisional ITC -10% Rule: Summary of GST Circular No. 123/42/2019

Ahead of GSTR3B due date of , CBIC has resolved queries on provisional ITC @ 20% through Circular No. 123/42/2019-GST but still the ambiguity persist.

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Zero Rated Supply Under GST

In India, GST is not applicable to any exports, which makes all the exports in India, Zero Rated Supplies. As per Section 16 of the IGST Act

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Automated Refunds for Exporters under GST

The revenue department under GST have plans to introduce a faceless scrutiny of refunds to hasten the claim settlement process.

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MAY 2019, Newsletter #16

ICEGATE with Simplified Auto-Registration | IRIS Sapphire - Business Intelligence Tool | IRIS Sapphire - Insights and Reports | ITC Claim When Consideration is Paid through Book Adjustment

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ITC Claim When Consideration is Paid through Book Adjustment

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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Cases where Input Tax Credit (ITC) cannot be Claimed

The Input Tax Credit mechanism allows a taxpayer to reduce his tax liabilities on his sales with the taxes paid on inward supplies.

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7 Tasks to Finish Before the End of Financial Year 2018-19

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.

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5 Aspects of ITC Distribution an ISD should Know

‘Input Distributor Officer’ is one of the most crucial concepts in the Indian economy, especially for the big players in the market.

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Your 3-step Guide to a Hassle-free GST Reconciliation

Every month’s GST filing, you need to reconcile your purchase data with all your suppliers’ sales data that they have uploaded on GSTN.

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How to Win Your GST Reconciliation & Influence ITC

The ability to claim ITC on your purchases, has made the reconciliation of your purchase data with your suppliers’ data extremely crucial.

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