GSTR 3: Return Formats, Filing Process, Due Dates

By | June 19th, 2017|Categories: GST, GST Law, GST News, GST Return Filing, Videos|

What is GSTR 3? We have already discussed various heads under GSTR 1 and GSTR 2. GSTR 1 requires the taxpayer to furnish details of outward supplies or sales. GSTR 2 requires furnishing details of inward supplies or purchases. Here we will discuss various heads and their [...]

Thresholds and Eligibility criteria under GST

By | June 19th, 2017|Categories: GST, GST Law, GST News, GST Registration, GST Return Filing|

Introduction The thresholds and eligibility criteria are generally laid on the basis of aggregate turnover of an assessee. Under GST law, it provides certain exemptions from paying tax, applying for registration, eligibility criteria to avail composition scheme, applicability of TDS provisions and requirement of mentioning the HSN/ SAC codes, all of which is based on the aggregate turnover. [...]

GSTR 7: Return for TDS under GST

By | June 17th, 2017|Categories: GST, GST Law, GST News, GST Return Filing|

What is GSTR 7? GSTR 7 is the return that has to be filed by the tax deductor about tax deducted at source.Deductor is required to file the return and has to provide the detail of amount of TDS in his return. When deductor pays the amount of TDS, it shall get reflected into the credit [...]

GSTR 11 Guide : Return to be filed by UIN holders

By | June 17th, 2017|Categories: GST, GST Law, GST Return Filing|

What is GSTR 11? GSTR 11 has to be filed by all taxpayers who have been issued Unique Identification Number under GST during the months they purchase items for their own consumption to get tax credit/refund on their purchases. Unique Identity Number is a special classification made for foreign diplomatic missions and embassies which are not [...]

GSTR 6 Guide : Return to be filed by Input Service Distributor

By | June 16th, 2017|Categories: GST, GST Law, GST News, GST Return Filing|

What is GSTR 6? GSTR 6 Return is arranged to use for  Return for Input Service Distributor. Every ISD(Input Service Distributor) is required to furnish details of invoices in form GSTR 6. Every Input Service Distributor shall, after adding, correcting or deleting the details contained in FORM GSTR-6A, furnish electronically a return in FORM GSTR 6.GSTR [...]

Types of GST Return Filing Forms

By | June 16th, 2017|Categories: GST, GST Law, GST News, GST Registration, GST Return Filing, Videos|

GST is to be implemented countrywide from 1st July 2017 for all existing assesses of VAT, Service Tax, Excise Duty etc. It envisages the creation of a single market by removal of state boundaries for all levies and elimination of tax burden due [...]

GSTR 8 Guide : Return to be filed for Tax Collected at Source

By | June 16th, 2017|Categories: GST, GST Law, GST News, GST Return Filing|

What is GSTR 8? E-commerce operator, who is required to collect tax at source (TCS) under GST, shall furnish a statement in GSTR 8 electronically through the Common Portal. This return shall contain the Details of supplies effected through e-commerce operator and the amount of tax collected on supplies. The details furnished by the operator shall be [...]

Revision or Amendment of Invoices under GST

By | June 16th, 2017|Categories: GST, GST Law, GST Return Filing|

What is Invoice? Tax invoice is required to be issued by a registered taxable person showing a description of goods and/or services, value, tax, and other particulars. It is a document evidencing supply of goods and services which becomes the basis for a charge of tax. However, there is a possibility that taxpayer might issue the [...]

Valuation of Supply under GST

By | June 16th, 2017|Categories: GST, GST Law, GST News, GST Return Filing, Videos|

Introduction Valuation of supply primarily revolves around the determination of the value of supply of goods and or services on which tax is to be levied. Valuation of supply of goods or supply of services shall be the transaction value where the supplier & [...]

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Impact of GST on E-commerce and TCS provisions under GST

By | June 15th, 2017|Categories: GST, GST Impact, GST News, GST Registration, GST Return Filing|

Introduction Electronic commerce or EC is buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet. GST has a noticeable impact on each and every sector including E commerce sector. There can be two types of E commerce sellers: 1. E commerce operator/ marketplace (e.g. [...]