Category: GST

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 …

Exemption to suppliers of handicraft goods from GST registration

Exemption to suppliers of handicraft goods from GST registration – Persons making inter-State taxable supplies of handicraft goods exempted from GST registration if aggregate value of supplies do not exceed 20 lakh/10 lakhs  MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF EXCISE AND CUSTOMS) Notification No. 8/2017–Integrated …