GSTR3B : Save Submit Offset Now At your Tips with LegalRaasta

By | December 22nd, 2018|Categories: GST|Tags: , , , , , , , , , , , , , |

What is GSTR3B? GSTR3B is the monthly self-declaration of summarised sales and purchase. Key points to be noted: This return is to be filed for every GSTIN. Outstanding liabilities should be paid before 20th of every month. A return once filed cannot be amended. This is a self-declaration and invoice level information is not needed. Filing [...]

What is GST? All you need to know about Good and Services Tax July 1, 2017 was a day that brought waves of change in the taxation system of India with the introduction of the Goods and Services Tax. Let' look at what GST is, and how it has changed the the way goods and services are taxed in India.

By | December 19th, 2018|Categories: GST|Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

GST: A Brief History An idea to reform the tax structure in India took birth in the year 2000 with the efforts of an Empowered Committee(EC) under the Late Shri Atal Bihari Vajpayee. In accordance with this, a GST bill was introduced in the year 2009 but the UPA government at that point of time failed [...]

What is GST in India: Components, Impact, Advantages

By | December 14th, 2018|Categories: GST|Tags: , , , , , , |

What is GST? GST (Goods and Service tax) is described as an Indirect Tax which has replaced many Indirect Taxes in India. Simply, it is a Comprehensive, multi-stage, destination-based tax that levied on the supply of goods and services on every value addition. The GST Law was passed in the Parliament on 29th March 2017. But it [...]

E-way Bill Non-Compliance: Implications, Penalty E-way Bill is a mandatory compliance to be adhered to when there is a transport of goods of more than ₹50,000 in value. Let's see the implications and penalties of e-way bill non compliance

By | December 8th, 2018|Categories: GST|Tags: , , , , , , , , , , , , , , , , , |

E-Way Bill: What is it? E-Way Bill, or EWB, or Electronic Way-Bill is essentially a statutory compliance for the transportation of goods via vehicles where the value of the consignment exceeds ₹ 50,000 in one invoice /delivery bill /challan or across multiple such bills in one round of transportation. The e-Way Bill was introduced to the taxation [...]

30th GST Council Meeting : Formation of GoM and State’s Revenue Discussion The 30th GST council meeting was held on 28th of September 2018, Friday via video conferencing. Main discussion were on formation of Group of Ministers and GST revenue situation in all the states

By | October 10th, 2018|Categories: GST Law, GST News|Tags: , , , , , , |

30th GST Council meeting came out with some positive and good steps to ease compliance of GST and also wrinkle out the hindrances in the implementation of GST. The 29th GST Council meeting focused on Digital Payments and Empowering MSME sector. In the 30th Meeting of the GST council, the council came out with two objectives [...]

Advantages and Disadvantages of Composition Scheme under GST Composition scheme under GST is a conveinient structure of taxation for small scale business taxpayers. It helps them to escape the complex and comprehensive compliances under GST

By | September 27th, 2018|Categories: GST|Tags: , , , , |

GST and its provisions On 1 st July 2017 the GST taxation system was introduced in India and it has revolutionized the taxation system in India. The VAT regime had many problems and GST seems to have eradicated those problems like the cascading effect of taxes. However, one issue still remains with the GST system, the [...]

GSTR 10 : Rules, Eligbility, Due Date, Format GSTR 10 is basically a return to be filed by registered regular taxpayers who have either opted out of GST registration or their GST registration has been cancelled

By | September 22nd, 2018|Categories: GST, GST Law, GST Return Filing|Tags: , , , , , |

What is GSTR 10? GSTR 10 is a return to be filed by taxpayers whose GST Registration has either been surrendered by the taxpayer or has been canceled by authorities. The return is also called as Final Return, which is different from Annual Return. Annual return is the return to be filed every year in accordance [...]

GSTR 9A Due Date, Eligibility, Format CBIC(Central Board of Indirect Taxation and Customs) released Notification 39/2018 on 4th September, 2018 detailing the formats of GST Annual returns for Taxpayers under composition levy scheme with GSTR 9A

By | September 21st, 2018|Categories: GST, GST Law, GST Return Filing|

What is GSTR 9A? GSTR 9A is basically an Annual Return under GST for taxpayers who have chosen the Composition Levy scheme of taxation. It differs from GSTR 9 because GSTR 9 is for regular taxpayers who file GSTR 1, GSTR2, and GSTR 3. GSTR-9A consists of all the details given in the quarterly returns given [...]

GSTR 9 Guide : Rules, Eligibility , Due Dates , Filing Formats Taxpayers registered under GST as well as those registered under composition levy scheme have to file Annual Returns in compliance with GSTR 9 format

By | September 20th, 2018|Categories: GST|

Index What is GSTR-9? Eligibility for Filing GSTR-9 Types of returns under GSTR-9 GSTR-9 due date What if I file GSTR-9 late? List of particulars required for filing GSTR-9 What is GSTR-9?  GSTR 9 is basically an Annual Return on GST. Taxpayers registered under GST as well as composition levy scheme have to file this return [...]

GSTR 9C : Reconciliation of Input Tax Credit and Certification

By | September 19th, 2018|Categories: GST, GST News|

Introduction It's been more than a year since GST was implemented in India. The government is still working out the kinks and fine-tuning the details of the new taxation regime. Many radical changes have been introduced to ease the migration to GST with GST registration procedure and simplification of GST Returns. Read more about GST returns [...]