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EXTENSION OF DATE FOR FILING RETURN BY A PERSON SUPPLYING ONLINE INFORMATION AND DATABASE ACCESS OR RETRIEVAL SERVICES FROM A PLACE OUTSIDE INDIA TO A NON-TAXABLE ONLINE RECIPIENT, FOR THE MONTHS OF JULY TO OCTOBER, 2017

Extension of date for filing return by a person supplying online information and database access or retrieval services from a place outside India to a non-taxable online recipient, for the months of July to October, 2017 till 15th December 2017. NOTIFICATION NO.61/2017-CENTRAL TAX, DATED 15-11-2017 In exercise of the powers conferred by sub-section (6) of section 39 read with section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) and section 20 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), and in supersession of Notification No. 42/2017-Central Tax, dated the 13th October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, […]

EXTENSION IN THE TIME LIMIT FOR FURNISHING RETURN IN FORM GSTR-06 FOR JULY 2017

Time limit for furnishing the return by an Input Service Distributor in FORM GSTR-6 under sub-section (4) of section 39 of the said Act read with rule 65 of the Central Goods and Services Tax Rules, 2017 for the month of July, 2017 has been extended till the 31st day of December, 2017. NOTIFICATION NO.62/2017-CENTRAL TAX, DATED 15-11-2017 In exercise of the powers conferred by sub-section (6) of section 39 read with section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred to as the said Act) and in supersession of Notification No. 43/2017-Central Tax, dated the 13th October, 2017, published in the Gazette of India, Extraordinary, Part […]

Extension in the time limit for making the declaration in FORM GST ITC-04 for July to September 2017

Extension in the time limit for making the declaration in FORM GST ITC-04, in respect of goods dispatched to a job-worker or received from a job-worker or sent from one job-worker to another, during the quarter July to September, 2017 till 31st October 2017. NOTIFICATION NO.63/2017-CENTRAL TAX, DATED 15-11-2017 In pursuance of section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) and sub-rule (3) of rule 45 of the Central Goods and Services Tax Rules, 2017, the Central Government hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance, Department of Revenue No. 53/2017-Central Tax, dated the 28th October, […]

Waiver Of Late Fee For All Registered Persons Who Failed To Furnish Return In Form GSTR-3B

In exercise of the powers conferred by section 128 of the Central Goods and Services Tax Act, 2017, Central government has reduced the amount of late fees be payable on late filling of GSTR – 3B from October 2017 onwards. S no Taxpayer CGST SGST IGST 1 Whose tax liabilities is NIL 10 per day 10 per day 20 per day 2 All other taxpayer 25 per day 25 per day 50     per day   NOTIFICATION NO.64/2017-CENTRAL TAX, DATED 15-11-2017 In exercise of the powers conferred by section 128 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act), […]

Exempt suppliers of services through an e-commerce platform from obtaining Compulsory Registration

CBEC vide Notification No. 65/2017 – Central Tax dated 15th November 2017 exempts those service providers whose annual aggregate turnover is less than Rs. 20 lakhs (Rs. 10 lakhs in special category states except J & K) from obtaining registration even if they are making inter-State taxable supplies of services. As a further measure towards taxpayer facilitation to exempt such suppliers providing services through an e-commerce platform from obtaining compulsory registration provided their aggregate turnover does not exceed Rs. 20 lakhs. As a result, all service providers, whether supplying intra-State, inter-State or through ecommerce operator, will be exempt from obtaining GST registration, provided their aggregate turnover does not exceed Rs. […]

Exempt all taxpayers from payment of tax on advances received in case of supply of goods

Payment of GST liabilities shall be made at the time of supply of goods as specified in section 12(2)(a) (i.e earliest of date of invoice or the last date of issue of invoices) and section 14 (i.e. change in rate of Tax) of the said Act, and shall accordingly furnish the details and returns by all the registered person other than those opt for composition scheme. Earlier such provision were applicable where registered person meet following criteria: Aggregate turnover in the preceding financial year did not exceed 1.5 crore rupees. Aggregate turnover in the year of registration under GST is likely to be less than 1.5 crore rupees. and Registered […]

GST Update-25th October 2017

GST Update-25th October 2017 Penalties for filling Form 3B for August and September 2017 has been waived off   In exercise of the powers conferred by section 128 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby waives the late fee payable under section 47 of the said Act, for all registered persons who failed to furnish the return in FORM GSTR-3B for the months of August and September, 2017 by the due date.         50/2017-Central Tax ,dt. 24-10-2017 Clarification on Taxability of Printing Contracts   Case-1 In the case of printing of books, […]

How to file GSTR – 1

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Introduction We will understand Following: What is GSTR – 1 Importance of information to be provided under GSTR – 1 Various table provided under GSTR – 1 What are the information to be provided under each table of GSTR – 1 What is GSTR – 1? GSTR – 1 is the return form which needs to fill 10th of every month for the previous month by Registered person. Detail of Outward supplies will be provided under GSTR – 1. There are total 13 table provided under GSTR – 1 in order to capture different information with respect to outward supplies. Let’s understand each and every table separately. Table – 1, […]

Export Procedure under GST

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Introduction: We will understand following: Method of Export under GST Detail of Export Procedures under Bond/LUT Step by Step approach for Export Documents required Method of Export under GST There are two method of export has been defined under GST. Export on payment of IGST Export on Non Payment of IGST Export under Non – Payment of IGST can be done as follows Export against Letter of Undertaking (LUT) Export against Bond with Bank Gurantee Purpose of Bond or LUT: The purpose of Bond or L U T is to bind Exporters to pay tax along with interest under GST. In the case of Export of Goods, Exporters bind himself […]

IMPORTANTS DATES FOR AUGUST AND SEPTEMBER 2017

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IMPORTANTS DATES FOR AUGUST AND SEPTEMBER 2017 Sr. No. Date Purpose Compliance Month Event Details 1 15th August 2017 Service Tax Return Qtr1. of FY 2017-18 Due date for filling Services tax return Quarter 1 – April 2017 till June 2017 2 20th August 2017 GST Liability- July Deposit Jul-17 Due date of depositing liabilities under GST for the month of July 2017 3 20th August 2017 GST Return- July Summary Return Jul-17 Due date for filling GST return for July 2017 – GSTR – 3B 4 5th September 2017 GST Return- July Detail Outward Jul-17 Due date for filling  GST return for July 2017 – GSTR – 1 5 […]

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