How GST effected Income Tax GST, or the goods and service tax, has become a reality in India now. This could be called the biggest reform in the history of our nation, especially in the Indirect Taxation where around 11 types of taxes would be incorporated into a single tax. There are no doubts in […]
How to claim GST refund of excess balance in Cash Ledger? RFD-01: a step-by-step guide to claim GST refund of excess balance in Electronic Cash Ledger of GST Portal There can be a lot of mistakes while creating GST challan for making GST Payment, it may be due to confusion, deadlines pressure or due to […]
Manual processing of refund claims in detailed REFUND PROCEDURES UNDER EXPORT: Following are the Forms for Refund Procedures GST RFD – 01 Application for Refund GST RFD – 02 Acknowledgement for Application of Refund submitted GST RFD – 03 Deficiency Memo GST RFD – 04 Provisional Refund Order GST RFD – 05 Payment Advice GST […]
GST – Invoices and other documents Bill of Supply under GST Issued by the registered person supplying exempted goods or services or both; and Suppliers opting for the composition levy Revised Invoice Issued by Register Person (not registered earlier) If Invoice/s issued before the issue of registration certificate Revised invoice to be issue form the […]
How GST has taken the suspense out of Budget The Goods and Services Tax , which was imposed on July 1 last year, radically changed many things in Indian economy. One change that has gone unnoticed is its impact on the Budget. The GST has shorn the Budget of its suspense and mystery by taking […]
Admissibility of ITC on services related to motor vehicles Section 17(5) of the CGST Act, 2017 prescribes the list of blocked credits and this lists allows the ITC on few goods and services on conditional basis.
GST E-Way Bill – Recent Changes GST E-way bill is an electronic way bill for movement of goods which can be generated on the GSTN. E-Way Bill is mandatory for the ‘movement’ of goods of more than Rs 50,000 from 1st Feb 2018.