Tag Archives: GST adviser in Delhi India

23rd GST Council Meeting

Lates changes in GST 23rd council meeting

In the 23rd GST Council Meeting, GST rate reduction for various goods and services was announced. A major highlight of the 23rd GST Council Meeting was the reduction of GST rates for various goods listed under the 28% slab. The GST rates changes will tremendously reduce the tax burden on the common man and boost the economy. In this article, we look at a summary of GST rate changes announced in the 23rd GST Council Meeting held on 10th November 2017.

Highlights of the 23rd GST Council Meeting

The goods and services on the 28% slab list were severely … Read more

GST adviser in India

GST Clarifications

  1. Taxpayers who have not set off their tax liability for GSTR3B for July 2017 and have only done submit of their GSTR-3B, have now been given option to edit, Submit and file their return. But those who have already offset liability would not be able to edit GSTR-3B
  2. If something wrong done in GSTR-3B than Correction can be made in next month’s return or during reconciliation between GSTR-1, 2 & 3 with GSTR-3B.
  3. GST credit can be availed on spare parts used for vehicles repairs and vehicle is a truck used for moving goods.
  4. Under Tran-1 you have to give
Read more
GST Clarification

Some Important Clarifications Regarding Transportation Charges In The GST Regime

Some Important Clarifications Regarding Transportation Charges In The GST Regime

1-    It is always better in the GST regime to declare the freight charges separately in the invoice as now services received from Goods Transport Agency ( GTA ) are attributable to liability of reverse charge at the rate of 5% . On these services the GTA has no liability of payment of taxes but the recipient of such services has to pay the tax at the rate of 5% on the freight charges claimed by the GTA and the recipient of such services can claim ITC of such tax … Read more

GST Returns

Reverse charge mechanism under GST and implications of exemption upto Rs. 5000 per day

Let’s look at the critical provisions of the GST law which have enabled reverse charge mechanism :-

Compulsory Reverse Charge even if the supplier is registered –

Sec 9(3) The Government may, on the recommendations of the Council, by notification, specify categories of supply of goods or services or both, the tax on which shall be paid on reverse charge basis by the recipient of such goods or services or both and all the provisions of this Act shall apply to such recipient as if he is the person liable for paying the tax in relation to the supply of … Read more

GST consultant in India

Points to remember for filing GST Returns

The first return of GST is here and is due for filing is 20th of August, 2017.

Points to remember for filing the first GST Return GSTR-3B.

  1.  It is Mandatory to file GSTR-3B and there is no exemption from filing GSTR-3B even if no business is carried in the month of July’2017. NIL GSTR-3B is also to be filed mandatorily.
  2.  GSTR-3B is the provisional return for the month of July’2017. Therefore all dealers who are required to file monthly returns under the GST Regime are required to file GSTR-3B. Composition dealers are required to file quarterly returns therefore dealers who
Read more