Post by: poonamgandhi in GST GST in India
Central Goods and Services Tax (Second Amendment) Rules, 2022 Central Board of Indirect Taxes and Customs introduced the Central Goods and Services Tax (Second Amendment) Rules, 2022, vide notification no. 19/2022- Central Tax dated 28th September 2022. Notably, the said…
Post by: poonamgandhi in GST GST in India
One-time opportunity for filing/ revising TRAN-1 or TRAN-2 Provisions of section 140 of the Central Goods and Services Tax Act, 2017 cover transitional provisions so as to ensure that the Cenvat Credit balance in the erstwhile law is smoothly received…
Post by: poonamgandhi in GST GST in India
Taxability of Liquidated Damages under GST As and when there is any breach of contract, the suffering party would be paid the amount in the form of liquidated damage or compensation, penalty or cancellation charges, etc. Notably, there prevailed a…
Post by: poonamgandhi in GST GST in India
A consequence of non-filing/ late filing of Form GSTR-1 and Form GSTR-3B Two GST returns, namely Form GSTR-1 and Form GSTR-3B, play a vital role in the life of a normal registered person under GST. Form GSTR-1 covers details of…
Post by: poonamgandhi in GST GST in India Legal News
Reverse Charge Provisions for Builders Generally, under GST, the service provider is liable to pay the tax. However, the Reverse Charge is a system via which the service receiver is held liable to pay the tax. Notably, section 9(3); section…
Post by: Mansi Sawant in GST GST in India
CGST vs SGST - Difference Between CGST & SGST GST or the Goods and Services Tax is the recent addition to the Indian Taxation system and it is levied on the supply of goods and services. For the business operation…
Post by: poonamgandhi in GST GST in India Legal News
GST on residential, commercial and religious property GST law clearly includes renting out of the immovable property within the ambit of supply of services and therefore, GST is payable on the same. The present article clarifies GST applicability on rental…
Post by: poonamgandhi in GST GST in India Import - Export Income Tax Legal News
Highlights of Budget 2021 The Finance Minister of India, Smt. Nirmala Sitharaman, presented the Union Budget 2021 on 1st February 2021. Common man to big players all had set their eyes on the budget since it was the first budget…
Post by: poonamgandhi in GST GST in India
Invoice Reference Number Invoice Reference Number (shortly and more popularly known as IRN) is a unique number generated for each invoice uploaded on an e-invoice system. The number is also known as ‘hash’. The number is generated using a hash…
Post by: poonamgandhi in GST GST in India Legal News
Invoice Furnishing Facility Filing of quarterly Form GSTR-1 return is available to a small registered person under GST. However, due to quarterly filing of details, there will be a delay in availing of an input tax credit for the recipient…
