Every registered person to furnish details of outward supplies made in a month in FORM GSTR‑1, details of inward supplies received in a month in FORM GSTR‑2 and a return in FORM GSTR‑3 by the 10th, 15th and 20th of the…
Category: GST
Extension of time limit for intimation of details of stock held in FORM GST CMP-03
Extension of time limit for intimation of details of stock held on the date preceding the date from which the option for composition levy is exercised in FORM GST CMP-03. the period for intimation of details of stock held on…
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…
When to take Input Tax Credit, If Goods is in Transit and/or received in Next Month
When the goods are purchased during the end of the month and received in next month due to return of in every month its create a confusion among the tax payer that when to take input of the same since…
Tax Rate Applicable when there is a change in Rate of Tax in GST
Section 14 of CGST Act 2017 deals with this: where there is a change in the rate of tax in respect of goods or services or both, shall be determined in the following manner, namely:–– in case the goods or services…
Levy and collection of GST
Subject to the provisions of sub-section (2), there shall be levied a tax called the central goods and services tax on all intra-State supplies of goods or services or both, except on the supply of alcoholic liquor for human consumption,…