GST Action Points for Current Financial Year The first financial year of GST regime is coming to an end next week on 31.03.2018. This is also the year of transition or migration of old indirect tax regime (VAT, Service Tax, Central Excise and other taxes) into goods and services tax regime (GST).
Determination of Time of Supply of Goods The liability to pay tax arises at the Time of Supply of Goods, time of supply is determined as per the below provisions: Time of Supply of Goods shall be earlier of the following dates: Date of Invoice – Invoice should be issued either before or at the […]
Online filing of Letter of Undertaking under GST Much awaited process: ‘Filling of Letter of Undertaking under GST in now became online’. This is surely a good step towards automation of process under GST.
Inter and Intra State Supplies under GST As per Section 5 of IGST Act, Integrated Goods and Service Tax (IGST) will be levied on all inter-state supplies of goods or services or both. As per Section 9 of CGST Act, Central Goods and Service Tax (CGST) will be levied on all intra-state supplies of goods or […]
Latest Change In GSTR-3B as Government simplifies filing The government on Wednesday came out with a simplified version of GSTR-3B , making it more user-friendly amidst indications that it may possibly be used even beyond March 31. According to a note prepared by PwC, GSTN has made the following key changes in the process of […]
GST on cryptocurrency transactions The objective of this article is to keep it short and sweet. This is solely based on my understanding of GST legislation. If you differ with me for any reason, please let me know the reasons. Since the topic is debatable, multiple viewpoints are possible.
Composite and Mixed Supply as per CGST Act 2017 Here I would like to share with all of you basic understanding of Composite and Mixed Supply . What is Composite Supply under GST? What is Mixed Supply under GST? Composite Supply: Composite supply is when two or more goods are sold in together with combination. […]