In its very positive move, GSTN has enabled the facility to file refund application for multiple tax periods w.e.f. 23rd August 2018. Now, an assessee can file refund application for more than one month/quarter in single application. Currently,…
After successful implementation of GST during a complete period of one year, government is planning to enter into next level of GST to make it more smoother and trade friendly. Recently, government has issued proposals to amend CGST…
CBIC has issued a circular clarifying various issues relating to refund of GST in case of Zero Rated Supplies. One of the major issue was Refund of unutilized ITC of compensation cess availed on inputs in case of…
CBIC through its Order no. 02/2018-GST dtd 30.03.2018 (F.No. 354/03/2018-TRU) has clarified that the GST rate on all food and beverages served in trains, railway stations/platforms will be taxed at uniform rate of tax of five percent (5%).…
GSTR-3B is a monthly return in which summary of Sales, GST Output, ITC available and tax payment is reported for each month. This return is specially designed for a limited period to remove initial technical and filing difficulties…
CBIC on 15.03.2018 through its circular CIR-37/11/2018-GST has issued various clarifications on concerns over refund against exports of goods or services or both. Further, on 26.10.2018, CBIC has issued circular CIR-70/44/2018-GST and on 31.12.2018, circular CIR-79/53/2018-GST to clarify further issues. Clarifications…
In this article, we will go through the Applicable law and GST Refund procedure in case Supplies to SEZ Developer/SEZ units. This article is based on the following applicable law: Section 16 of IGST Act 2017 Section 54…
Recommendations made during the 26th meeting of the GST Council held in New Delhi on 10.03.2018 1. Return filing System The present system of filing of GSTR 3B and GSTR 1 is extended for another three months i.e.,…
Proprietorship firm means a firm/entity which is owned by a one natural person only. In this form of business entity, only one person is the owner of such business. All capital investment, risks, rewards, profits, losses, assets, liabilities…
On 23.02.2018, CBEC has issued a Circular CIR-33/07/2018-GST in relation to Disputed and Blocked Transitional Credits (CENVAT Credits) carried forward under GST during Transition to GST. To prevent misuse of transitional credits and non-adherence to GST provisions, CBEC has…
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