Category: GST

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 …

TCS Mechanism under GST – Guide by CBEC

TCS Mechanism under GST. TCS is tax collected by e-commerce operator when a supplier supplies some goods or services through its portal  TCS MECHANISM UNDER GST Tax Collection at Source (TCS) has similarities with TDS, as well as a few distinctive features. TDS refers to the tax which …

Job-work Under GST – A Guide by CBEC

Job-work Under GST – A Guide by CBEC.. Job work is any treatment or process undertaken by a person on goods belonging to another registered person Job-work Under GST Introduction Job-work sector constitutes a significant industry in Indian economy. It includes outsourced activities that may or may not culminate …

TDS Mechanism under GST-A Guide by CBEC

TDS Mechanism under GST-Guide by CBEC. Individual supplies may be less than Rs. 2,50,000/-, but if contract value is more TDS @ 1% will have to be deducted TDS MECHANISM UNDER GST Tax Deduction at Source (TDS) is a system, initially introduced by the Income Tax Department. It …
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