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 […]
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 In GST regime, the scope of the definition of inputs, capital goods, and input services is very wide and covers almost all the imaginable goods and services that are directly or indirectly used in the course or furtherance of business. However, section 17(5) prescribes a […]
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 – Anti-profiteering becomes a board issue Anti-profiteering under the goods and services tax has gone from being a plain costing issue to one that’s worrying board members. Several directors have written to company CFOs and finance teams seeking an update on price reductions under GST, said people aware of the matter.
GST on Advances Taking an advance? Do you have to pay GST? Recently, the GST on Advances has become of quite an importance. The government has made few changes regarding the applicability of GST on advances. Background: let’s start from the initial stage as it was stated in CGST Act. According to the act, every […]
Common problems faced in GST portal and solution Everything has two sides good and bad. But only good sides of GST are discussed in many places, problems of GST portal are not properly discussed in those places. With the good sides, it is also important to know about the problems of GST because you will […]