Daily Archives: December 1, 2018

Pay GST on onetime upfront Concession Fees / Long term Lease : Goa AAR

By | December 1, 2018

AUTHORITY FOR ADVANCE RULINGS, GOA Goa Tourism Development Corporation Ltd., In re ASHOK V. RANE AND S.K. SINHA, MEMBER ADVANCE RULING NO. GOA/GAAR/4 OF 2018-19/2429 OCTOBER  21, 2018 Kapil Paiginkar, C.A.H.V. Kagrani and Rajan Naik for the Applicant. RULING   1. The present application has been filed under section 97 of the Goa Goods and Services Tax Act, 2017 and the Central Goods… Read More »

GST Return Not Filed : Consequences

By | December 1, 2018

GST Return Not Filed : Consequences If a taxable person fails to file the return required under law [ under section 39 (monthly/quarterly), or Section 45 (final return)], what legal recourse is available to the tax officer? The proper officer has to first issue a notice to the defaulting taxable person under section 46 [Notice… Read More »

Category: GST

GST Revenue collection for November 2018 Rs 97637 crore

By | December 1, 2018

Ministry of Finance GST Revenue collection for the month of November 2018 crosses Ninety-Seven Thousand Crore Rupees Posted On: 01 DEC 2018 The total gross GST revenue collected in the month of November, 2018 is Rs. 97,637 crore of which CGST is Rs. 16,812 crore, SGST is Rs. 23,070 crore, IGST is Rs. 49,726 crore (including Rs. 24,133crore collected on imports) and Cess is Rs. 8,031 crore(including Rs. 842crore collected… Read More »

Category: GST

GST Audit : Free Video Tutorials

By | December 1, 2018

Audit : Videos on GST Audit How to Fill GSTR 9 : Part 1 Basic Details : जीएसटी 9 कैसे भरें : भाग 1 : मूल विवरण 12 Key Points about GST Annual Return Audit by Tax Authorities under GST [ Video Tutorial ] Special Audit under GST [ Video Tutorial ] How to do… Read More »

Category: GST

Bill to Ship to under GST and Eway Bill : Analysis

By | December 1, 2018

Bill To Ship To under GST and Eway Bill In this article we have done detailed analysis of Bill To Ship To Concept under GST Act  and Eway bill Rules Bill To Ship To Meaning  It is a normal practice in the industry where goods are sold to one person but delivered to a different location/person… Read More »

12 Key Points about GST Annual Return

By | December 1, 2018

12 Key Points about GST Annual Return Key Point -1 The GST Annual return is not required to be filed by following person Input Service Distributor, person paying TDS under section 51 e-commerce operator paying TCS under section 52, casual taxable person and Non-resident taxable person. Note : Every e-commerce operator required to collect tax at… Read More »

Updated FAQ on TCS under GST [ by CBIC on 30.11.2018]

By | December 1, 2018

FAQ on TCS under GST Summary of Tax Collected at Source ( TCS under GST ) As per Notification No. 51/2018 – Central Tax, TCS provisions under GST applicable from 01.10.2018. Under section 52 of CGST Act, electronic commerce operator are liable to deduct TCS. Further the Central Board of Indirect Taxes and Customs vide Notification No. 52/2018… Read More »

Category: GST

ICAI Guide on auditors Resignation/ Withdrawal from an Audit Engagement

By | December 1, 2018

Implementation Guide on Resignation/ Withdrawal from an Engagement to Perform Audit of Financial Statements Foreword In 2018, there have been number of mid-term resignations by auditors particularly auditors of listed companies. The matter being a concern for various stakeholders it has been decided to examine the reasons and circumstances leading to resignation of auditors and… Read More »

How Input Tax Credit is to be blocked/unblocked from Electronic credit ledger

By | December 1, 2018

Input Tax Credit blocking from Electronic credit ledger Video tutorial by CA Satbir Singh From, Excise & Taxation Commissioner, Haryana To, All Dy. Excise & Taxation Commissioners, In the State of Haryana Memo No. 3555 /GST-2, Panchkula, dated the 30.10.2018 Subject: – Guidelines regarding circumstances in which Input Tax Credit has to be blocked/unblocked from Electronic… Read More »