Relevance of relevant date in case of export The time limit for filing the refund claim is to be checked from the “relevant date”. This term is defined in Explanation 2 to section 54. This update is about the interpretation of term “relevant date” & its significance in determining the time limit for filing the […]
Category Archives: Goods and services Tax
Goods and services Tax
Goods and services Tax is applied by Indian government as one nation one tax
“GST” Was Apply by the Government to benefited to Business Man.
Before Implementation of GST Various Indirect taxes like service tax,Sales tax,and Excise duty was applicable in india .
In Above all indirect tax cenvat credits i.e. input tax credits on purchase/services received was adjusting with outward sales and outward services given .
For smooth running of this system the Indian Government also implemented this by discontinue of above mentioned tax,
In This Section we try to clarify regarding GST Refunds,GST Returns,GST Circulars,GST Notifications,GST Forms.
GST on supplies made to Merchant Exporter – Recent changes and it Impact “Merchant Exporter” means a person engaged in the trading activity and exporting or intending to export goods. Merchant exporters are instrumental to boost exports which contribute to the growth of Indian economy.
Reversal of ITC in case of goods lost by fire However, section 17(5) prescribes a list of goods or services on which ITC is not admissible or Reversal of ITC .The opening part of section 17(5) of CGST Act, 2017. The scope of the definition of inputs, capital goods, and input services is very wide […]
GST data may be used to track income-tax evaders The government may be looking to use data obtained from Goods and Services Tax (GST) filings to track those who are escaping income-tax, two people close to the development said.
GST on sale or discard of Capital Assets Sale / Discard of Capital Assets Under Goods & Service Tax. Under GST every supply is liable to Tax as per Sec 9 of CGST Act, 2017. Section 7 of CGST act, 2017 defines scope of supply, which says (1) For the purpose of this Act, expression […]