GST Circulars

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GST Impact on Sales Promotion scheme
Goods and Service Tax
CA. Sachin Jindal

Impact of GST on Sales Promotion schemes

Applicability and Impact of Goods and Services Tax (‘GST’) on sale promotion schemes has always been a contention of litigation since the start of GST. Every business has a marketing and sales plan in order to increase sales volume, attract new customers and achieve its business objectives.  Sales promotion schemes are the key drivers to supplement, co-ordinate and achieve functional objectives.  With a diverse collection of incentive and innovative ideas, sale promotion schemes stimulate consumer purchasing behaviour. However the problems and many industries related issues arises due to the provision contain in section 17(5)(h) of CGST Act 2017. As per

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How to report Interstate sales to unregistered person in GSTR-3B
Blog
CA. Kapil Mittal

How to report Interstate supply to unregistered person in GSTR-3B

Goods and service Tax (“GST”) is a consumption/destination based tax, i.e., GST revenue generated out of supply of goods/services accrues to that state wherein such goods/services gets consumed. Information about consuming states is collected by government from data provided by the taxpayers in their GST returns. Accordingly, in case of inter-state supply (from one state to another), to ensure correct allocation of revenue among states, details of consuming states (i.e., place of supply) is required to be correctly reported in GST returns. However, it has been noticed by the department under GST Audit that taxpayers have failed to report inter-state

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Information on Tax Invoice - GST
Blog
CA. Sachin Jindal

Missing information in Tax Invoice leads to Penalties u/s 125 and 122

Department has instructed vide circular 90/09/2019-GST dated 18th February, 2019 that all registered taxpayers are required to mention place of supply and name of state on tax invoice while making inter-state supply. Contravention will lead to invocation of penalty proceedings against taxpayer under section 122 or 125 of CGST Act.

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gst amendment act 2018
Goods and Service Tax
CA. Sachin Jindal

GST Amendment Act, 2018 & Its Impact: 20 Major Changes

THE CENTRAL GOODS AND SERVICE TAX (AMENDMENT) ACT, 2018 With the approval from the GST council in the meeting held on January 10 2019, the changes made by the CGST (Amendment) Act, 2018, IGST (Amendment) Act, 2018, UTGST (Amendment) Act, 2018 and GST (Compensation to States) Amendment Act, 2018 along with the corresponding changes in SGST Acts will be applicable from 1sr February 2019. Keeping in view the implementation of the amendments made in the GST taking place from 1st Feb 2019, it is highly recommended that you must be aware of the changes that have been made in order

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GST refund filing and claims process
Exports of Goods and Services
CA. Kapil Mittal

Updated GST refund filing and claims process

Introduction In order to facilitate a smooth flow of GST refund filing and claims process, the Central Board of Indirect Taxes and Customs (‘CBIC’) has strived to implement a hassle-free refund process at every stage. In line with this objective, the GST Council, in its 31st meeting held on 22 December 2018 has rationalised and introduced several taxpayer friendly measures in the GST refund filing and claims process. In addition, several clarifications on procedural aspects of refund claims, jurisdiction, inverted duty structure, compensation claims, Input Tax Credits etc. have been issued which would bring in practical clarity on the process

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GST on various programmes being conducted by the IIMs
Goods and Service Tax
CA. Sachin Jindal

GST on various programmes being conducted by the IIMs

Introduction With the enactment of the Indian Institutes of Management Act, 2017, GST implication on the IIMs has undergone various changes and the same has been clarified by the board vide circular no. 82/01/2019-GST dated 1st January, 2019. Phase-wise taxability of IIMs, as clarified by the board, under GST is being summarized in the current article with respect to  various programs by IIM . Period 1ST July, 2017 Till 30th January, 2018 IIMs is eligible for exemption available at sr. no. 67 to notification no. 12/2017 – Central Tax (Rate) dated 28th June, 2017. As per above serial no. only

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GST on Asian Development Banks and International Finance Corporation
Goods and Service Tax
CA. Kapil Mittal

GST on Asian Development Banks and International Finance Corporation

Introduction GST position of both the Asian Development Banks and the International Finance Corporation has been clarified by the board vide circular no. 83/02/2019-GST dated 1st January, 2019. 1. GST on Asian Development Banks (ADB) The Asian Development Banks Act, 1966 specifically provides that notwithstanding anything to the contrary contained in any other law, the Bank, its assets, properties, income and its operations and transactions shall be exempt from all the taxation and from all the customs duties. Further, the Act also exempts the Bank from any obligation for payment, withholding or collection of any tax or duty. Clarification by

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