Following Amendments would take effect under GST from 1st Feb 2019. Upper limit of turnover for opting composition scheme shall be raised from Rs. 1 Cr to Rs. 1.50 Cr. A Composite dealer(in goods) shall be allowed to supply services (other than…
Category: GST Law
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 —-) …
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…
Cancellation of GST Registration
As per Section 29 of CGST Act 2017 The proper officer may, either on his own motion or on an application filed by the registered person or by his legal heirs, in case of death of such person, cancel the registration,…
Treatment of Input tax credit when Input Tax payer opts for Composite Taxation in GST
Where any registered person who has availed of input tax credit opts to pay tax under section 10, i.e, Composition Taxation or, where the goods or services or both supplied by him become wholly exempt, he shall pay an amount,…
Availability of Input Tax Credit on the Purchases made before GST Registration
Its a common myth among the Tax payers that Input tax could only be available on the purchases made after GST Registration. How ever in certain cases Input can be taken on the purchases pre Registration: As per Section 18(1)…
Goods and services on which partial Input Tax credit is available
Where the goods or services or both are used by the registered person partly for the purpose of any business and partly for other purposes, the amount of credit shall be restricted to so much of the input tax as is…
Goods or Services on which Input credits will not be available in GST
As per Section 17(5) of CGST Act 2017 on the followings Input tax credit would not be available: motor vehicles and other conveyances except when they are used–– for making the following taxable supplies, namely:— further supply of such vehicles or…