The GST Council in its 31st meeting held today at New Delhi made the following policy recommendations: 1) The due date for furnishing the annual returns in FORM GSTR‑9, FORM GSTR-9A and reconciliation statement in FORM GSTR-9C for the Financial…
GST Audit Form (Form GSTR-9C)
GSTR 9C See rule 80(3) PART – A — Reconciliation Statement Pt. I Basic Details 1 Financial Year 2 GSTIN 3A Legal Name < Auto > GSTR 3B Trade Name (if any) < Auto > 4 Are you liable to…
Form GSTR-9A
FORM GSTR-9A (See rule 80) Annual Return (For Composition Taxpayer) Pt. I Basic Details 1 Financial Year 2 GSTIN 3A Legal Name <Auto> 3B Trade Name (if any) <Auto> Period of composition scheme during the year (From —- To —-) …
Format of GSTR-9- Annual return under GST
1[FORM GSTR‑9 (See rule 80) Annual Return Pt. I Basic Details 1 Financial Year 2 GSTIN 3A Legal Name GSTR 3B Trade Name (if any) Pt. II Details of Outward and inward supplies declared during the financial year (Amount in ‘ in all tables)…
Applicability of GST Audit
Rule 80(3) of CGST Rules uses the expression “every registered person whose aggregate turnover during a financial year exceeds two crore rupees”. So GST Audit is Applicable for every Registered person, whether or not the person is having any Taxable…
Legal Provision of GST Audit
There are Two important provisions which are relevant and important in this context are Section 35(5) and Section 44(2) of the CGST Act. In terms of Section 35(5) of CGST Act “every registered person whose turnover during a financial year exceeds…
Taxation of Lottery under GST Acts
Whether CGST Act, 2017 and IGST Act,2017 to the extent proposing to tax lottery is beyond the Constitutional definition of ‘goods’? Whether lottery is ‘goods’ or n ‘actionable claim’? Held in the case of “Teesta Distributors & Ors. v. Union of…
Revised return validly filed pursuant to notice u/s. 153A after Search & Seizure, is accepted, defects found in original return cannot be considered for imposing penalty u/s. 271(1) ©
The assessee filed return of income declaring a huge loss. Pursuant to the search and seizure operations u/s.132 and issuance of notice u/s.153A, assessee revised the loss return declaring as nil income. Assessment was completed on the NIL income only.…
Input on Civil foundation for Plant & Machinery is not Allowed Held in Advance Ruling
The argument of the applicant to treat civil structures as structural support for plant & machinery is not tenable. The civil structures under consideration squarely fall under other civil structures which are excluded as per the Explanation to Section 17(5)…
Fair Market Value of property to be consider on the date of Execution of Agreement and not on the date of Registration
The assessee has entered into agreement to sale of its factory line and building on 14–8‑2007 wherein consideration of Rs. 27.62 crores was decided and assessee received a sum of Rs.14.39 crore by cheque at the signing of the agreement.…
Doctors attending the medical conferences is allowable expenditure U/s 37
AO noted that assessee had incurred various expenses towards appointment of faculty doctor or assessee ‘s consultant doctor in a medical conference. AO completed assessment and made additions of that expenditure to assessee’s income. The CIT(A) granted partial relief to…