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How to get Refund under GST

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Contents Introduction: Type of Refund to Exporters Under GST. Process of refund to exporter under GST Documents required for refund application: Relevant dates for refunds: Various Time Lines for Export Refunds Refund to Exporters under GST Introduction: Type of refund to exporters under GST Process of refund to exporter under GST Documents required for refund under GST Relevant dates for refund applications under GST for exports Various time lines for Export refunds Type of Refund to Exporters Under GST. As we know there are two options to exports under GST. Refund procedure for both the option is different. Option – 1 Exports made on payment of IGST System designated by […]

Rajasthan E-Way Bill

E-Way Bill notified by Rajasthan Government Rajasthan Govt. notifies e-way bill mechanism w.e.f. today, i.e. December 20, 2017 for inter-state movement of specified goods where consignment value exceeds Rs. 50,000/-; Every person who causes such movement must, before commencement, furnish information electronically in Part A of E-way Bill which includes below details and thereafter the consignor / consignee may generate E-way Bill upon furnishing vehicle number in Part B. Part A A.1 Recipient’s GSTIN A.2 Place of Delivery A.3 Invoice/Challan number & Date A.4 Value of Goods A.5 HSN Code A.6 Reason for transportation A.7 Transport document number Part-B B. Vehicle Number When goods are handed over to transporter for […]

Key Takeaways from 24th GST Council Meeting

Key Takeaways from 24th GST Council Meeting System for both inter-State and intra-State e-way Bill generation will be ready by 16th January, 2018. Uniform system implemented for inter-state and intra-state movement will be implemented across the country by 01th June 2018. The nationwide e-way Bill system will be ready to be rolled out on a trial basis latest by 16th January, 2018. Trade and transporters can start using this system on a voluntary basis from 16th January, 2018. Compulsory implementation for Inter-state movement of Goods w.e.f 01st February 2018.

Permanent transfer of Intellectual Property is a supply of goods or service

To obviate dispute and litigation, CBEC vide Notification No. 41/2017-Central Tax (Rate) dated 14th November 2017 notified that irrespective of whether permanent transfer of Intellectual Property is a supply of goods or service: –   Description Rate Permanent transfer of Intellectual Property other than Information Technology software attracts GST @ 12% Permanent transfer of Intellectual Property in respect of Information Technology software attracts GST @ 18%  

Amendment in rate of tax under for various goods and services

The CBEC vide Notification No. 41/2017-Central Tax (Rate) dated 14th November 2017 effective from 15th November 2017 reduced GST rate on goods from 28% to 18% on goods falling in 178 headings at 4-digit level (including 4 tariff heading that are partially pruned).  After these changes, only 50 items will attract GST rate of 28%.  

Relief to Business in GST 23rd Council Meeting

Index Return Filing Revised Late Fee Treatment of Late fees paid for July, August and September 2017 Extension of dates for furnishing Forms Manual Filing of Application for Advance Ruling Benefits for Service Providers Benefits for Diplomatic Missions/ UN organizations Benefits for Composition Dealer Benefits for Restaurants Exemption from IGST/GST in certain specified cases Other changes for simplification and harmonisation or clarification of issues Rationalization of Exemption Entries Other Clarifications Introduction The GST Council, in its 23rd meeting held at Guwahati on 10th November 2017, has recommended the following facilitative measures for taxpayers Return Filing: Various relaxation has been given in following manner. All taxpayers would file monthly return in Form […]

Extension of dates for furnishing Forms

Taking cognizance of the late availability or unavailability of some forms on the GSTN portal, it has been decided that the due dates for furnishing the following forms shall be extended as under: S. No. Form and Details Original due dates Revised due dates Notification 1. GST ITC-04, containing details of Inputs & CG sent to Job Workers, for the quarter July-September, 2017 25.10.2017   31.12.2017   NOTIFICATION NO.63/2017-CENTRAL TAX, DATED 15-11-2017 2. GSTR-4 for the quarter July-September, 2017 by Composition Dealer 18.10.2017 24.12.2017 NOTIFICATION NO.59/2017-CENTRAL TAX, DATED 15-11-2017 3. GSTR-5 for July, 2017 by Non-Resident Taxable Person 20.08.2017 or 7 days from the last date of registration whichever is earlier 11.12.2017 NOTIFICATION NO.60/2017-CENTRAL TAX, DATED […]

Concessional GST rate of 2.5% on scientific and technical equipments supplied to public funded research institutions.

NOTIFICATION NO. 45/2017-CENTRAL TAX (RATE), DATED 14-11-2017 In exercise of the powers conferred by sub-section (1) of section 11 of the Central Goods and Services Tax Act, 2017 (12 of 2017) ( hereafter in this notification referred to as “the said Act”), the Central Government, on being satisfied that it is necessary in the public interest so to do , on the recommendations of the Council, hereby exempts the goods specified in column (3) of the Table below, from the so much of the central tax leviable thereon under section 9 of the said Act, as in in excess of the amount calculated at the rate of 2.5 per cent, when […]

Amendment in Rate of Tax for Restaurants

Amendment in Rate of Tax for Restaurants Tax rate will be applicable from 15th Nov 2017, as per given table.   S No Services Rate of Tax 1 All stand-alone restaurants, whether air conditioned or not 5% without ITC 2 Food parcels (or takeaways) 5% without ITC 3 Restaurants in hotel premises having room tariff of less than Rs. 7500/- per unit per day 5% without ITC 4 Restaurants in hotel premises having room tariff of Rs. 7500/- and above per unit per day 18% with full ITC 5 Outdoor catering 18% with full ITC 6 Accommodation in Hotel having tariff between Rs. 1000 but less than Rs. 2500 per […]

Fair Price shop and Services by way of admission to a protected monument charged with NIL rate of Tax

As per Notification no. 47/2017-Central Tax(Rate) following services shall be charged with Nil rate of tax with effect from 15th November 2017. Service provided by Fair Price Shops to Central Government, State Government or Union territory by way of sale of food grains, kerosene, sugar, edible oil, etc. under Public Distribution System against consideration in the form of commission or margin Services by way of admission to a protected monument so declared under the Ancient Monuments and Archaeological Sites and Remains Act 1958 (24 of 1958) or any of the State Acts, for the time being in force NOTIFICATION NO. 47/2017-CENTRAL TAX (RATE), DATED 14-11-2017 In exercise of the powers conferred […]

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