Category Archives: Goods and services Tax

Goods and services tax

Goods and Service tax is applied by indian government as one nation one tax “GST”

Challenges for Small Business in GST

Challenges for Small Business in GST
Now taxpayer started to clear gist of GST. The primary pre- requisite for smooth implementation of GST is the understanding provisions of law so that to do the business smoothly which is still at nascent stage specifically for small taxpayer. Small Business in GST are yet to prepare for

Input tax credit with respect to Motor Vehicle

Input tax credit with respect to Motor Vehicle
Section 17 of the Central Goods and Service Tax (CGST) Act deals with Apportionment of credit and blocked credits, wherein Clause (5) of the said Section provides for restriction of credit of Input tax credit with respect to Motor Vehicle.
It is pertinent to note that section 17(5)

GST on Director’s Remuneration

GST on Director’s Remuneration
Introduction:
This article discusses in detail about GST on Director’s Remuneration on Services of director i.e. sitting fees, commission etc.
Taxability
The government has power u/s 9(3) of CGST Act & u/s 5(3) of IGST Act, to notify the levy of GST on RCM basis on goods or services.

How to resolve errors made in GSTR 3B?

How to resolve errors made in GSTR 3B?
Introduction: This article discusses in detail about solutions to resolve errors made in GSTR-3B. A lot of doubts are being raised about errors or mistakes made by the taxpayers in filling of GSTR-3B return. As GSTR 3B cannot be revised, it makes the taxpayers worried about the