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Tag: Input Tax Credit-
मेरे पिता की मृत्यु हो गई है। उन्होंने जीएसटी का नंबर लिया हुआ था। अब मैं उनके बिजनेस को आगे चलाऊंगा। क्या मुझे नया जीएसटी नंबर लेना पड़ेगा? व पुराने जीएसटी नंबर पर उपलब्ध इनपुट टैक्स क्रेडिट का क्या होगा ?
मेरे पिता की मृत्यु हो गई है। उन्होंने जीएसटी का नंबर लिया हुआ था। अब मैं उनके बिजनेस को आगे चलाऊंगा। क्या मुझे नया जीएसटी नंबर लेना पड़ेगा? व पुराने जीएसटी नंबर पर उपलब्ध इनपुट टैक्स क्रेडिट का क्या होगा ? उत्तर:- इस विषय पर सेन्ट्रल बोर्ड ऑफ़ इनडायरेक्ट टैक्सेज एंड कस्टम्स ने Circular No. […]
What is the impact of Section 16(2) (aa) of CGST Act -20170-With amended Rule 59 of CGST Rule
What is New Provision as per section 16(2) (aa)? Recently inserted new Section 16(2) (aa) of CGST Act Finance Bill, 2021. In this Article we are trying to discuss & analysis of Section 16(2) (aa) with Section 37 of CGST Act-2017. Provision as per Law 16(2) (aa) The details of the Tax Invoice/Bill or debit […]
Availability of credit in special circumstances Under GST (Section 18).
Availability of credit in special circumstances Under GST (Section 18). availability of credit in special circumstances under gst In case of new registration, shifting from composition scheme & exempt supply becomes taxable supply [Section 18 (1)(a)] a GST person who has applied for registration under the GST Act within 30 (thirty) days from the date […]
Eligibility and conditions for taking input tax credit with Protocol and Example to avail and utilise the Input tax credit
The protocol to avail and utilise the Input tax credit of these taxes is as follows: Credit of (CGST/SGST/UTGST/IGST) To be utilised first for payment of flowing May be utilised further for payment of flowing CGST CGST IGST SGST/UTGST SGST/UTGST IGST IGST IGST CGST, then SGST/UTGST Note:- Credit of CGST cannot be used for payment […]
38th Meeting of the GST Council, at New Delhi dated 18 December, 2019
38th Meeting of the GST Council, at New Delhi dated 18 December, 2019 In the 38th meeting of the GST Council held on Dated 18.12.2019, the GST Council recommended the following: (GRC) Grievance Redressal Committees will be constituted at Zonal/State level with both CGST (Central) and SGST (State) officers and including representatives of trade and […]
What are the rates of GST applicable on construction of residential apartments?
GST Rate applicable on construction of residential apartments GST Rate on Flat Purchase:- With effect from 01st April, 2019, effective GST Rate applicable on construction of residential apartments by promoters in a real estate project are as under: Description Effective GST rate (after deduction of value of land) Construction of affordable residential apartments 1% without […]
Relaxation in filing of annual returns (in GST 37 meeting)
Relaxation in filing of GST Return Relaxation in filing of annual returns for MSMEs for Financial Year- 2017-18 and Financial Year 2018-19 as under: a. waiver of the requirement of filing annual returns FORM GSTR-9A for Composition Taxpayers for the said tax periods; and b. filing of annual returns FORM GSTR-9 for those taxpayers who […]
List of Goods and Services Not Eligible for Input Tax Credit-Under GST
Ineligible ITC under GST Notwithstanding anything contained in sub-section (1) of section 16 and subsection (1) of section 18, input tax credit shall not be available in respect of the following, namely:— 1. Motor vehicles and other conveyances :- Input tax credit is not available for motor vehicles used to transport persons, having a seating […]
Interest rate provision in GST
Notification for Interest rate for GST late payment For more information read the following notifications. Dated-28.06.2017 Notification No. 13/2017 – Central Tax [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION 3, SUB -SECTION (i)] Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs Notification No. 13/2017 […]