Category: GST

Meaning and Scope of Supply under GST-A Guide by CBEC

Meaning and Scope of Supply under GST. Supplies in the course or furtherance of business only qualify as supply under GST The Meaning and Scope of Supply under GST The taxable event in GST is supply of goods or services or both. Various taxable events like manufacture, sale, …

Tax Invoice and other such instruments in GST-A Guide by CBEC

Tax Invoice and other such instruments in GST. Serial number of invoices issued shall be furnished electronically through the Common Portal in Form GSTR-1 Tax Invoice and other such instruments in GST Introduction Generally speaking, an invoice is a commercial instrument issued by a seller to a buyer. …

Refunds Mechanism under GST – A Guide by CBEC

Refunds Mechanism under GST-A Guide by CBEC. Every claim has to be filed online in a standardised form which will be acknowledged (if complete in all aspects) in 14 days. Refunds Mechanism under GST Introduction Timely refund mechanism is essential in tax administration, as it facilitates trade through the release …

Accounts and records in GST-A Guide by CBEC

Accounts and records in GST-A Guide by CBEC. Types of accounts and records required to be maintained by every registered person and Period of  preservation Accounts and records in GST 1. Assessment in GST is mainly focused on self assessment by the taxpayers themselves. Every taxpayer is required …

Aggregate Turnover in GST -A Guide by CBEC

Aggregate Turnover in GST-A Guide by CBEC. It is a crucial parameter to decide suppliers’ eligibility to avail benefit of exemption threshold of Rs 20 Lakhs Aggregate Turnover in GST 1. Turnover, in common parlance, is the total volume of a business. The term ‘aggregate turnover’ has been …

Appeals and Review Mechanism under GST-A Guide by CBEC

Appeals and Review Mechanism under GST-First Appellate Authority may confirm, modify or annul the decision or order appealed against but shall not refer the case back to the authority that passed the said decision or order. Appeals and Review Mechanism under GST Introduction Tax laws (or any law, for that matter) …

Inspection Search Seizure and Arrest under GST – A Guide by CBEC

Inspection Search Seizure and Arrest under GST. Arrested can be made for specified offences involving tax amount exceeding Rs. 200 lakhs. Inspection Search Seizure and Arrest under GST 1. In any tax administration the provisions for Inspection, Search, Seizure and Arrest are provided to protect the interest of genuine …

Provisional Assessment in GST – A Guide by CBEC

Provisional Assessment in GST – A Guide by CBEC. Procedure, Finalization of provisional assessment, Interest liability and Release of Security  Provisional Assessment in GST Introduction A supplier will come to know the extent of his tax liability which has to be discharged on a continuous and regular basis …

Special Audit in GST – A Guide by CBEC

Special Audit in GST-A Guide by CBEC. A registered person can be directed to get his records audited by a CA or CMA for reporting within 90 days in Form GST ADT-04 Special Audit in GST Introduction GST is a trust based taxation regime wherein the assessee is …
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