Advisory by CBEC for filing of GSTR-1
Few days ago, government issued advisory for taxpayers on filing of GSTR-1 for the month of July 2017 to avoid confusions and errors on first time filing at GSTN Portal and to provide know how of this system.…
Input Service Distributor – Concept and Procedures under GST
Concept of Input Service Distributor or say ‘ISD’ has been taken from earlier indirect tax well known as Excise Laws. Under this concept, big business houses are able to distribute common input tax credits of an un-productive unit…
Verification or inspection of Vehicle post GST?
Like VAT, it is also being provided in GST that government officials can verify and inspect any vehicle. Along with this, there are some additional provisions are inserted to empower tax payer and enhance transparency in the system.…
Documents required with Driver during transportation of goods under GST
After implementation of E-way Bill rules, following are the documents which must be carried by the person-in-charge of the vehicle: Invoice or Bill of Supply or Delivery Challan, as the case may be. Copy of the e-way bill…
E-Way Bill under GST
E-Way Bill is an electronic system (through Internet or SMS mode) to report movement of goods from supplier to recipient either by supplier or by recipient or by transporter to the government before such movement. This is not…
Returns System under GST for Regular Dealers (Other than Composition Dealers)
Under GST, every dealer registered as a Normal / Regular dealers have to file monthly returns of Outward Supplies and Inward Supplies. Outward Supplies means all sales of goods or services or both. Inward Supplies means all purchases…
What is GST ?
GST stands for Goods and Services Tax (a good and simple tax) GST is an indirect tax imposed by State governments and Central governments simultaneously on each transaction of purchase of goods or services or both. Indirect tax…
What is the Procedure and document requirements to register as new dealer under GST
In GST, every registration as new dealer is automated through online portal of GST network. Fresh registrations are started from 25th June 2017. GST portal will first verify user credentials for the followings: Legal Name of Business (Name as…
Composition Scheme under GST
Concept of Composition Scheme is commonly known to every person because it was also available in Central Excise Duty laws and in State VAT law too. Composition scheme is an opportunity provided to small traders, manufacturers and restaurant…
Input tax credits: Where a registered person opts Composition Scheme
In this article we will understand the impact on Input tax credits, where a normal registered person under GST opts to pay tax under Composition Scheme A person was registered under normal provisions under GST (i.e. claiming input…
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