New Returns under GST
As we already know that new returns are going to replace the old ones.Under new regime of GST Return system, first of all we have to categorize the tax payers on the basis of previous year's turnover. There will be two types of tax payers: 1. Large Taxpayers        &... Click to read full article

Sarabjeet kaur 13/03/2020 under GST

GSTR 9 Table 4 Information
Many assesses have confusion regarding Table 4 of GSTR 9 to have details from GSTR 3B or GSTR 1. As per the Press Release issued by department it was made clear that even though the auto populated figures of table 4 is tracked from GSTR 1 data but the final figures to be mentioned in the said tab... Click to read full article

Mayur Arora 20/04/2020 under GST

GST and TDS: How will it impact the Rental Income?
For a few years now, rented properties have been subjected to service taxes under specific conditions. Rental income that comes from real estate development in Hyderabad was previously being taxed under the ‘Income from House property’ head under the Indian Income Tax laws. ... Click to read full article

BBG INDIA - Building Group 13/06/2020 under Investment

Features of Making Payment on Voluntary Basis (Form GST DRC-03) on GST Portal
Making Voluntary Payment on GST Portal: A facility is given to taxpayers to make payment on voluntary basis, through Form GST DRC-03 (refer Rule 142(2) or 142(3) of the CGST Rules, 2017). Login into GST Portal and navigate to Services > User Services > My Applications and Select the Inti... Click to read full article

Suresh Paramasivam 15/11/2019 under GST

Steps to be taken by taxpayers to file GSTR 9C
Steps for filing GSTR-9C are as follow: 1. Digital Signature Certificate (DSC)     * Digital Signature Certificate (DSC) must be PAN based          * DSC must not be corrupted.          * DSC should be valid and ... Click to read full article

Suresh Paramasivam 30/10/2019 under GST

GST PMT-08 Form
The New Form GST PMT-08 is used to make payment of self-assessed tax by all taxpayers under the new simplified GST returns. This form shall be used every month thereby replacing GSTR-3B for declaring and paying the monthly tax liability and claiming the eligible input tax credit. PMT-08 form a... Click to read full article

Tax and Law practitioners 18/08/2019 under GST

Compulsory to File GSTR 9?
GSTR 9 Annual Return for Turnover less than 2 Crore, is optional, and if taxpayer chose not to filed before 30th November it would be deemed to filed on due date. It means if you chose not to file annual return within due date for the reason that your turnover was below 2 crore, it will be pre... Click to read full article

Sonu Chimnani 13/10/2019 under GST

Tax Invoice, Debit and Credit Notes
Tax invoice.- Subject to rule 54, a tax invoice referred to in section 31 shall be issued by the registered person containing the following particulars, namely,- (1) Name, Address and Goods and Services Tax Identification Number of the supplier; (2) a consecutive serial number not exceed... Click to read full article

Suresh Paramasivam 24/07/2019 under GST

A taxpayer whose turnover is below Rs 1.5 crore can opt for Composition Scheme. In case of North-Eastern states and Himachal Pradesh, the limit is now Rs 75* lakh. Before making a decision to choose a composition scheme, it is necessary that The following conditions must be satisfied in order ... Click to read full article

Manoj Agarwal 11/04/2019 under GST

Decoding GST Number
GST Number or GSTIN is a 15 digit identity given to business and service providers registered under GST (Goods and Services Tax). Every registered person is issued a valid GST Number to comply with GST laws. GST Number is public information about any business and one can easily find details of... Click to read full article

Pulkit Sharma 08/04/2019 under GST

Simplified GST Returns Forms: Normal (RET 1), Sahaj (RET 2), Sugam (RET 3)
CBIC has uploaded the amended/ simplified GST Return forms on the GST Portal, i.e. Normal (RET 1), Sahaj (RET 2) and Sugam (RET 3), which are likely to be applicable from 1 July 2019 (2nd quarter of FY 2019-20), in view of the fact that CBIC has already notified the existing GST return forms for ... Click to read full article

Manoj Agarwal 26/03/2019 under GST

Here is some good news for tax-paying businesses in India. 28th GST council meet held on 21st of July 2018 has introduced a simple GST return filing system for the taxpayers. The government has introduced Sahaj and Sugam forms for filing GST returns. In this article, we’ve explained h... Click to read full article

Manoj Agarwal 26/03/2019 under GST

Never File Wrong GSTR-1

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