GST Refund Process

GST Refunds

Refund Under GST Laws Introduction : Under GST law there is structured mechanism for claim of refund. Though there are various forms which has been prescribed as application to claim the refund, along with this there are various Due-date which has been prescribed for different situations. The above process is so much complicated that it…

Inverted Tax Structure under GST

Inverted Tax Structure under GST Introduction: It is important to know that what are the provision relating to GST in case where there is inverted tax structure i.e. rate of Input/Input service is higher than the rate of outward taxable supply. For e.g.: Mr. A is manufacture and it procures raw material on which GST…

Mandatory timely filing of GSTR-3B

Mandatory timely filing of GSTR-3B – Recent update Introduction : Recently GST department has conducted it’s 42th GST council meeting in which decision has been taken regarding threshold limit of turnover for the assessee who are required to file monthly returns. Along with this under news and updates section of GSTN portal government has request…

POS for Specified Service

GST IMPLICATIONS YOU MUST KNOW IN CASE OF SUPPLY OF SPECIFICIED SERVICES Whether you should charge IGST or CGST & SGST in case of Supply of Services where both the parties are situated in India? It is important to determine place of supply as this will decided whether transaction is inter-state or intra-state which will…

Preparing Client for Tax Audit

“Making client ready for tax audit” Introduction : It is of at most important that every client who is required to get his books of accounts audited, obtains audit report well within time. This will allow him to avoid penalty and other consequence that he may suffer due to non-obtaining of audit report in time.…

Section 269ST Final

Section 269ST of Income Tax Act, 1961. Introduction: To reduce the circulation of cash and to curb black money government has come out with a section 269ST under Income Tax Act, 1961; which restrict the amount that an assessee can receive from another assessee. In this article we will discuss all the special cases that…

Relief in late fees

Wavier of Late Fees

Relief in late fees to Taxpayers filing Form GSTR-4 or GSTR 10 What is GSTR-4? Who is required to file? GSTR-4 is return which is filed by composition dealer. Such composition dealer is required to furnish there return once in a year, i.e. at end of year. Due date for GSTR 4 is 30th April…