Tag: CBEC Guide
CBEC issues 11 Steps guide for filing Form GST TRAN 2 form. Step by Step guide for filing Form GST TRAN 2 form Prequisite: TRAN 2 can be filed only if TRAN-1 and GSTR 3B of the relevant tax period is filed. Step 1. Navigate to the TRAN 2 page …
E-Way Bill in GST-Purpose, generation, validity, cancellation, issuance, exception and contravention. CBEC Guide Electronic Way Bill in GST Introduction A waybill is a receipt or a document issued by a carrier giving details and instructions relating to the shipment of a consignment of goods and the details include …
GST on Educational Services – Guide by CBEC “Education” is not defined in the CGST Act but as per Apex Court decision in “Loka Shikshana Trust v/s CIT”, education is process of training and developing knowledge, skill and character of students by normal schooling. Taxing the Education Sector …
GST Practitioners-A Guide by CBEC. Eligibility Criteria for becoming GST practitioner. Activities and Conditions for GST Practitioner GST Practitioners Section 48 of the CGST Act provides for the authorisation of an eligible person to act as approved GST practitioner. A registered person may authorise an approved GST practitioner …
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. 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. 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. 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. 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-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) …
