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Author: CMA Bhogavalli Mallikarjuna Gupta

Latest changes in GST

The basis of the 28th GST Council Meeting, the changes proposed are passed as bills in the Lok Sabha on 9th August 2018. The Central Goods and Services Tax (Amendment) Bill, 2018 The Goods and Services Tax (Compensation to States) Amendment Bill, 2018 The Integrated Goods and Services Tax (Amendment) Bill, 2018 The Union Territory […]

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One Year of GST Rollout – A learning / Nightmare or Success?

One Year of GST Rollout – A learning / Nightmare or Success?   When the clock ticked 00.00 hours on the night of 30th June 2017, India has rolled out one of the major reforms, tax reform to be specific for rationalization of taxes known as “Goods and Service Tax” by subsuming about 40 plus […]

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Supply of services of short term accommodation, conference facilities etc to SEZ developer or SEZ units

Circular No. 48/22/2018-GST has been issued on 14th June 2018 and interesting observation in this is regarding the first point i.e supply of services of short-term accommodation, conferencing, banqueting etc. provided to a Special Economic Zone (SEZ) developer or a SEZ unit should be treated as an interState supply or intrastate supply? The clarification provided is that it should be treated […]

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GST Tip – 464

As per provisions of Rule 18 of the CGST Rules and corresponding State / Union Territory Rules, the taxpayer has to display his certificate of registration and registration number at a prominent location at the principal place of business and at every additional place of business. As per provisions of Section 125 of the CGST […]

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Roll out of e-Way Bill system for intra-State movement of goods in the Maharashtra, Manipur and Union Territories (without legislature)

As per the decision of the GST Council, e-Way Bill system for inter-State movement of goods has been rolled out from 1 April, 2018. As on 23 May, 2018, e-Way Bill system for intra-State movement of goods has been rolled out in the States of Andhra Pradesh, Arunachal Pradesh, Assam, Bihar, Gujarat, Haryana, Himachal Pradesh, Jharkhand, Karnataka, Kerala, […]

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GST Tip 463

GST Tip – 463 : What we can understand is that hardly 50% of the taxpayers have filed GSTR -1 and if enforcement is undertaken immediately it means that about 50% of the taxpayers will receive notices and at the same time many of the taxpayers have to reverse the ITC with interest if matching […]

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GST Tip – 461

As per provisions of Rule 46 of the CGST Rules 2017, every tax invoice is to be signed by an authorized signatory.  Who is an authorized signatory? The person whose name is registered as an authorized signatory in the GST Registration at gst.gov,in portal. It has been observed that many of the taxpayers are issuing invoices […]

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GST Council approves principles for filing of new return design based on the recommendations of the Group of Ministers on IT simplification

GST Council today in its 27th meeting approved principles for filing of new return design based on the recommendations of the Group of Ministers on IT simplification. The key elements of the new return design are as follows –   Onemonthly Return:All taxpayers excluding a few exceptions like composition dealer shall file one monthly return. Return […]

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Change in the shareholding pattern of GSTN

The Goods and Services Tax Network – Special Purpose Vehicle (GSTN-SPV) was created as a private limited, not-for-profit company under Section 25 of the Companies Act, 1956 (Section 8 of the Companies Act, 2013) by Govt. of India on 28th March, 2013 with an objective to provide shared IT infrastructure and services to Centre and […]

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27th GST council meeting discusses change in GST rate for digital transactions and imposition of Sugar Cess

Incentive to promote Digital Transactions:   Keeping in view the need to move towards a less cash economy, the Council has discussed in detail the proposal of a concession of 2% in GST rate [where the GST rate is 3% or more, 1% each from applicable CGST and SGST rates] on B2C supplies, for which […]

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