Circular No. 90/09/2019-GST
This was the point i am discussing with my friends and during my sessions of GST Audit that if the provisions of Rule 46 are not followed then penal provisions can be levied under Section 122 and Section 125. Rule 46 clearly states that on a tax invoice, the bare minimum details have to be shown and […]
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 […]
Amended CGST Rules
CGST Rules have been notified for the first time on 19th June 2017 vide Notification No. 3 /2017-Central Tax and after that it has been updated multiple times. It is being updated on a average of two times in a month from the date of rollout of GST from 1st July 2017. These are updated […]
GST Tip – 323
As per Rule 141 of the CGST Rules 2017, if the taxpayer does not pay the amount, then the commissioner can dispose of the goods seized from the taxpayer and adjust the same against the tax payable, interest, penalty or any other amount payable in respect of such goods.
GST Tip – 322
As per Rule 141 of the CGST Rules 2017, in case if the goods seized are of perishable or hazardous in nature of the taxpayer, the said goods can be released, if the owner of the goods pays an amount equivalent to the market price of such goods or things or the amount of tax, […]
GST Tip – 321
As per Rule 140 of the CGST Rules, if the goods are not produced before the concerned officer on the date said by the person whose goods are seized, the officer can encash the security provided and adjusted against the tax, interest and penalty and fine, if any, payable in respect of such goods.
GST TIP – 303
As per Rule 10 of the CGST Rules, if the application for registration is accepted by the GSTN, certificate of registration is issued in FORM GST REG-06 containing the principal place of business. The GSTIN issued will be of 15 digits to the applicant.
GST Tip – 300
As per Rule – 9 of the CGST Rules, once the application for registration is filed and acknowledgement is issued, FORM GST REG-03 will be sent electronically to the applicant within 3 working days if there are any discrepancies in the application form. If no communication is received within 3 working days it is deemed to […]
GST Tip – 298
As per Rule 46 of the CGST Rules 2017, a registered tax payer, other than a composition taxpayer can issue a consolidated tax invoice at the end of the day for all the transaction where tax invoices are not issued for a value less than Rs 200 per transaction.